Ledger Adds Private Zcash Balances in Wallet
Ledger Wallet now supports both public and shielded ZEC balances in one account. The update comes as demand for Zcash rises and the Ironwood pool takes center stage.
Key Takeaways
- Ledger has added private Zcash balances in Ledger Wallet, so public and shielded balances can now sit in one account.
- The feature only works for ZEC in the Ironwood pool; private data stays local on the user's computer.
- ZEC rose 84% over the past month, while $98.2 million flowed into Zcash funds in the week through September 18.
Ledger has added private Zcash balances to its Ledger Wallet desktop app. For ZEC holders, that means both public and shielded balances can now sit in one account, while the coin was up 84% over the past month.
What Changes for ZEC
Zcash has two kinds of balances. A transparent balance is public, just like Bitcoin. A private, or shielded, balance hides the amounts and addresses involved in a transaction. Ledger says one account can now hold both types of balances.
The new feature only works for ZEC that sits in the Ironwood pool. That privacy pool launched in July and replaced the old pool after researchers found a vulnerability. According to Ledger CEO Charles Guillemet, the private data stays on the user's computer. Scanning and transaction building happen locally, and the viewing key is not shared.
There are still limits to the feature. Private ZEC cannot be swapped directly without first making it public, and the original Nano S does not support the update. An older app from developer Zondax will also disappear on November 5, which means users need to move their funds before that date.
Why Ledger Is Doing This Now
The timing lines up with a strong stretch for ZEC. At the time of writing, the price was around $1,516 (€1,330), nearly 3% lower over 24 hours, but still 23% higher over seven days and 84% higher than a month ago. Earlier in the day, ZEC climbed to $1,658.86 (€1,450) before pulling back.
Zcash's privacy side remains important here. The network's shielded pools use zero-knowledge proofs to hide transactions, and the Ironwood upgrade was a direct response to a bug in the old Orchard pool. That upgrade also introduced a turnstile mechanism, so only provably deposited amounts can be withdrawn from the old pool.
ETF Inflows Keep Attention on ZEC
For European crypto followers, the key point is that interest in Zcash is not coming only from the wallet side. In the week through September 18, $98.2 million flowed into Zcash funds, the biggest weekly inflow among 14 crypto products. That shows both privacy features and investment demand are drawing attention around ZEC at the same time.
