.@vladcostea on Zcash: "To a great degree, Zcash is like Bitcoin in 2013: the enthusiasm, the adoption happening in such a short time, and the mistakes along the way that strengthen the protocol but also scare away some market participants." Early.

BREAKING: Anthropic ran a security audit of Zcash with Mythos, no serious bugs found in the protocol.

.@jswihart: "Zcash is peer-to-peer electronic cash, the vision of Satoshi with the Bitcoin whitepaper. But Bitcoin was missing encryption. It was missing privacy. Zcash is like Bitcoin, but with encryption, with privacy."

Some personal news: Today is my last day at @KuruExchange. Over the past two years, I’ve had the privilege of helping grow Kuru from an idea into an integral part of the Monad ecosystem. Along the way, we surpassed $2B in mainnet trading volume, built an amazing community, and made many real friendships I hope will last a lifetime. I can’t thank @0xfravashi and @0xtrojan_ enough for taking a chance on me to build a fully onchain CLOB together, along with great coworkers and friends like my fearless co-host @kryptobaby777 and @cryptunez who first got my foot in the door in the eco. I remain a proud cheerleader and stakeholder for Kuru and Monad at large. On Monday, I’m thrilled to be joining Zcash Open Development Lab (@zodl_co) as Content & Communications Lead. Zcash’s commitment to privacy, freedom, and open-source values has reignited my passion for crypto. I’m excited to help tell that story to the world and bootstrap Zcash and @zodl_app adoption at scale. A huge thanks to @peacemongerZ , @jswihart, and @tonymargarit for this opportunity, and to friends like @Cryptopathic and @SPCMNandHOBBES for helping me get privacy pilled in the first place. Onward. ROM. 15:13

Quick update on the last ~48 hours of Zcash Ironwood! 1. Protocol devs from across all the orgs met twice to discuss specification and implementation progress. Agreement on a couple additional changes: disabling Orchard pool bundles in coinbases, anchors as auth data for migration UX with hardware wallets, and the order that ZIPs and specs will be handled. 2. Ironwood circuit and ZIP 2005 integration drafts are going through the review process. @ValarGroup has already spun up testnets and his team has done a wonderful job scoping out and implementing some of the wallet-facing changes. We are beginning an Ironwood upgrade book for eventual consumption by auditors, wallets, protocol developers, etc.. 3. Formal verification work on Ironwood continues. A collection of different individuals who either have or will continue to work on formalization efforts will be meeting tomorrow where we'll settle on the specific strategy for getting the Ironwood SNARK formally verified. I'm hosting this and will post minutes and details after. Efforts from teams will be ideally combined where useful, existing approaches and progress unified and we'll figure out the easiest path for the next couple weeks. I've paused my own work on this to do Ironwood circuit stuff, but I'll be resuming on that tomorrow. These are the big pieces, there are also some major security auditing tasks taking place in the background -- at least three major firms are auditing Orchard currently, and multiple new AI auditing suites are hammering the codebases to ensure nothing else critical is sitting around anywhere. So far so good! Really proud of how much progress is being made every hour on this by all five of our major teams/orgs and our supporters inside and outside the community. Also love the general wartime vibe shift. Let's go!

Hayek on why inflation is so dangerous: “Moderate inflation is generally pleasant while it proceeds, whereas deflation is immediately and acutely painful.” “There is little need to take precautions against any practice the bad effects of which will be immediately and strongly felt.” “But there is need for precautions wherever action which is immediately pleasant or relieves temporary difficulties involves much greater harm that will be felt only later.” “There is, indeed, more than a mere superficial similarity between inflation and drug-taking, a comparison which has often been made.”

BREAKING: Inflation is officially rising faster than wages, per BLS.