Coinbase Welcomes the Iron Fish Team to Propel Privacy Developments on Base
In Brief
Coinbase has integrated the Iron Fish team to bolster the expansion of the Base network, ensuring that the Iron Fish blockchain and its token will remain autonomous, governed by the Iron Fish Foundation.
The tech giant behind the renowned cryptocurrency exchange, Coinbase has revealed its acquisition of the Iron Fish development team, which is dedicated to creating a privacy-centric proof-of-work cryptocurrency initiative, to aid in the enhancement of its Layer 2 network, Base.
Under the leadership of Elena Nadolinski and Jason Spafford, the Iron Fish team brings a wealth of knowledge in the creation of privacy-centric tools and technologies that prioritize safety and compliance. This dynamic group will be setting up a dedicated privacy unit within Base, fast-tracking the privacy agenda by introducing features that enhance the platform's privacy.
By incorporating the Iron Fish team, Coinbase is making a substantial commitment to ensuring privacy remains a core principle of the on-chain economy. This initiative will empower builders to utilize Base's enhanced scalability and privacy features, paving the way for the next wave of secure, private, and compliant on-chain applications. Coinbase aspires to redefine industry standards for privacy by embedding reliable privacy measures into Base, advocating for a secure and transparent on-chain future. For end-users, the rollout of privacy tools will ease the process of protecting sensitive data, enabling fast and economical transactions while affording individuals greater control over their on-chain activities.
Importantly, the Iron Fish blockchain along with its native token will function independently, distinct from both Coinbase and Base, and will be overseen by the Iron Fish Foundation.
Coinbase Strengthens Base Development with Leading Protocol Team
Base, crafted by Coinbase, aims to deliver a secure, affordable, and developer-friendly platform for constructing on-chain applications. Utilizing the OP Stack in collaboration with Optimism, Base is enriched by Coinbase's extensive experience in developing cryptocurrency products. The plan is for the network to gradually embrace decentralization, with no current intentions of launching a new native token for this network.
Coinbase stressed that the Iron Fish team ranks among the most proficient in the industry, and by integrating them into Base, the company is adding exceptional protocol knowledge. The organization is reasserting its dedication to embedding privacy into its mission of bringing the global economy on-chain.
Recently, Coinbase has acquired Spindl, a platform specializing in on-chain advertising and attribution, which will now function under Base. The platform will continue to serve its existing clientele seamlessly.
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