• publishednullifiers - one per spent note
  • publishedvalueBalance - every boundary amount
  • publishedanchors - tree root at spend time
  • publishedcommitments - one per output note
  • publishedt-addresses - every shield and unshield endpoint
  • publishedmigration amounts - quantised, since NU6.3
  • hiddensender, recipient, note value (z to z only)

00 SYSTEM — shielded-pool forensics - public data only

ZCashReveal

A public instrument for the turnstile - the boundary where shielded value enters and leaves - and a public record of the two windows in which Zcash's circuits were unsound and nobody can prove nothing was minted. Nullifiers, anchors, commitments, boundary amounts, migration denominations and anonymity-set bounds: rendered as data, never as identity.

Unprovable residual
731,462 ZEC
Orchard 708,841 + Sprout 22,621 - 4.3% of supply
Transparent supply
74.0%
12,500,223 ZEC in t-addresses - as public as Bitcoin
Orchard, sealed
708,841
ZEC still inside a pool that has been exit-only since NU6.3
Ironwood pool
3.13M
18.5% of supply, four weeks after the pool was created
Shielded share
26 to 26.8%
the two explorers disagree; the range is what is known
Pool balances and the shielded range as of 2026-08-22, block 3,456,227.
statscite
claim
stats
last verified
2026-08-22
confidence
med
  1. CipherScan — Ironwood migration tracker CipherScan · 2026-08-22 · accessed 2026-08-22
  2. ZEC Stats (zecstats.com) ZEC Stats · accessed 2026-08-22
  3. CoinGecko — Zcash CoinGecko · accessed 2026-08-22
  4. Coinglass ZEC derivatives coinglass.com · accessed 2026-08-22
  5. Coin Metrics, State of the Network #338 Coin Metrics · 2025-11-08 · accessed 2026-08-22
01

The two windows

28 Oct 2016 to 28 Oct 2018
31 May 2022 to 1 Jun 2026 (4 years, 1 day)
Chain life, banded by whether the shielded circuits were sound
The four intervals of Zcash chain life, with their soundness
IntervalSoundApproximate daysWhat happened
Sprout, BCTV14no73128 Oct 2016 to 28 Oct 2018, about 730 days. Fixed silently at Sapling; disclosed 341 days after that.
Sapling erayes130828 Oct 2018 to 31 May 2022. Sound as far as anyone knows.
Orchard, halo2no146531 May 2022 to 1 Jun 2026, 1,462 days. One missing copy constraint in the double-and-add loop.
NU6.2 to Ironwoodyes841 Jun 2026 to the tip. Fixed circuit, and a new pool that starts empty.

About 61 per cent of the chain's life to date falls inside a window in which the property that would rule out counterfeiting did not hold. That is not an allegation that counterfeiting occurred: no one can show that it did, and - this is the whole point - no one can show that it did not. A soundness bug leaves no trace, which is what soundness means.

B1B2
two-windowscite
claim
two-windows
last verified
2026-08-22
confidence
high
  1. ECC — Zcash Counterfeiting Vulnerability Successfully Remediated (5 Feb 2019) Electric Coin Company · 2018-03-01 · accessed 2026-08-22
  2. ZF — Concerning the Sprout Vulnerability CVE-2019-7167 Zcash Foundation · accessed 2026-08-22
  3. ZIP 209, Prohibit Out-of-Range Chain Value Pool Balances Zcash Improvement Proposals · accessed 2026-08-22
  4. GHSA-ww9q-8r59-xv46 / CVE-2026-54496 (Orchard soundness, CVSS 9.3) GitHub · accessed 2026-08-22
  5. ZODL — Orchard Vulnerability Successfully Remediated (2 Jun 2026) ZODL · 2026-05-29 · accessed 2026-08-22
  6. Zcash Community Forum — The Orchard Counterfeiting Vulnerability—And Next Steps (4 Jun 2026) Zcash Community Forum · 2026-06-04 · accessed 2026-08-22
  7. Schneier on Security — Critical Zcash Vulnerability Found and Fixed (Jun 2026) Schneier on Security · accessed 2026-08-22
02

The pools, at the tip

2026-08-22 - block 3,456,227
HANDOFF-11 wires the live snapshot
Supply by pool at block 3,456,227
PoolZECShare of supply
Transparent12,500,22374.0%
Sprout22,6210.1%
Sapling529,0153.1%
Orchard708,8414.2%
Ironwood3,129,28718.5%
  • Transparent - 12,500,223
  • Sprout - 22,621
  • Sapling - 529,015
  • Orchard - 708,841
  • Ironwood - 3,129,287

16,889,987 ZEC accounted for across five buckets. Transparent is not a pool - it is the absence of one - but supply accounting needs all five on one axis. ZEC ~$790.76, market cap ~$13.34 B, circulating 16.89 M / 21 M (80.4%). Shielded: roughly 26-27% (CipherScan: 25.9% at block 3,456,227; ZECStats: 26.8%) (4,530,445 ZEC). Ironwood migration 80.6% complete; ~708,841 ZEC still stranded in Orchard NU6.3 "Ironwood" — block 3,428,143. New formally verified (Lean) shielded pool; v6 tx format (ZIP 229); quantum recoverability (ZIP 2005); Orchard restricted to withdrawals only (ZIP 2006), creating the supply-verification turnstile

T2026-08-22T2026-07-28
03

Two halves, one identity

the Record cites; the Instrument measures

A — the Record

Static, citable, zero-motion. The exploit ledger, the contradictions, the timeline and the promotion lattice - every entry carrying a source URL, a confidence and a last-verified date. Claim identifiers are permalinks, so a statement can be argued with rather than merely read.

sourcedzero motionseverity register

B — the Instrument

Live, deterministic, chain-seeded. Turnstile balances, the Orchard drain, the ZIP 318 migration lens and the Ironwood birth curve. Transparent values are exact; shielded values are bounds on a candidate set. The page renders from the last good snapshot when the feed is down, and says how old it is.

boundedsnapshot baselineseeded ambience
04

Open a surface

the Record is numbered like evidence