According to Huoxun Finance, Zcash Open Development Lab, in conjunction with Tachyon, Valar Group, Zcash Foundation, and Shielded Labs, has proposed a new network upgrade and shielded pool called "Ironwood," scheduled for activation by the end of July 2026, with the exact timing depending on testing and ecosystem coordination. Ironwood will utilize the existing Orchard protocol, adding formal verification and independent security audits. It will verify all ZEC supply transferred from Orchard to Ironwood through a "Turnstile" mechanism, allowing anyone to audit the circulating Zcash supply, enhancing protocol security and transparency. ZODL stated that the recently discovered Orchard integrity vulnerability has been identified and fixed through coordinated upgrades. There is no evidence that the vulnerability was exploited, nor has there been any loss of user funds or change in the total ZEC supply. The issue has not affected the privacy attributes of the privacy pool, and Orchard continues to operate normally. After the upgrade, the Orchard pool will close new deposits and internal transactions. Funds can only be migrated to Ironwood through the Turnstile mechanism. Wallets supporting Orchard will provide a one-click migration function, and the new privacy pool will use users' existing Orchard addresses without requiring changes. In addition, ZODL is working to deprecate zcashd, including developing a new command-line wallet, Zallet, assisting node operators in migrating to Zebrad, and updating wallets and SDKs to support Ironwood upgrades.

According to Huoxun Finance, Do Kwon, founder of Terraform Labs, was sentenced to 15 years in prison for triggering the approximately $40 billion Terra crash. His abandoned original blockchain, Terra Luna Classic (LUNC), has not perished; community members continue to maintain the network, hoping to achieve one of the greatest revivals in crypto history. A core community member, using the pseudonym "Vegas," lost approximately $50,000 during the Terra crash and has since been involved in validator node operation, proposal governance, and developer coordination. He stated that despite facing long-term internal power struggles and fraud allegations, and even being maliciously reported to the police, he still believes LUNC has the potential to return to the top ten in the crypto industry. After the Terra crash in 2022, Terraform Labs launched the new blockchain Terra via a hard fork, while the original blockchain was retained and renamed Terra Luna Classic. Subsequently, the community organization Terra Rebels took over maintenance, introducing proposals such as a 1.2% burn tax in an attempt to revitalize the ecosystem. However, due to disputes over fund allocation and governance, the organization eventually disbanded, and many developers subsequently left. The community is still pushing forward with the development of lending protocols, games, and Meme coins, attempting to restore the stablecoin peg mechanism. Data shows that LUNC has risen 17.3% in the past year, but has fallen 28.7% since 2022, still a 99.99% drop from its all-time high of $119. Some community members say that the shared trauma after the crash has forged a bond similar to "family," and price is no longer the only objective. "What if we could pull off one of the greatest comebacks in crypto history? It would be like a desperate last pass," one community member said.

Odaily Planet Daily reports that ASML (ASML.O): Elon Musk will speak at the company's virtual technology conference, where he will discuss Project TERAFAB, his vision for artificial intelligence, and chip manufacturing. (Jinshi)

In the past hour, total liquidations across the network reached $10.22 million, with $7.54 million from long positions, with $2.68 million from short positions. BTC liquidation $1.17 million, ETH liquidation $817,014.31.

According to Huoxun Finance, ZODL, a core contributor to the Zcash ecosystem, is collaborating with Tachyon, Valar Group, Zcash Foundation, and Shielded Labs to propose a new network upgrade solution and privacy pool called Ironwood. Ironwood will be built on the existing Orchard protocol and will further enhance security through formal verification and additional independent audits.