Zcash's newly launched Ironwood shielded pool has seen approximately 176,000 ZEC, valued at around $81 million, transferred within its first day of operation following a significant upgrade. This amount represents roughly 5% of the total balance from the now-retired Orchard pool, which had held about 3.66 million ZEC prior to the upgrade.
The Orchard pool, which is no longer accepting new deposits, is gradually being depleted as users withdraw funds through a turnstile mechanism that limits withdrawals to the amount that has been verified as deposited. As of now, the remaining balance in the Orchard pool is about 3.51 million ZEC, with around 46,000 ZEC having moved to Ironwood in the last 24 hours.
Zcash operates its funds in separate pools, each linked to different generations of privacy technology. The Ironwood pool is the latest addition, designed to enhance privacy features after a counterfeiting flaw was identified in the previous pool. Meanwhile, the transparent pool, akin to Bitcoin, currently holds about 12.5 million ZEC.
