Coinbase acquired the team behind Iron Fish, a blockchain project focused on confidentiality, to strengthen confidentiality features on its basic 2 network, announced the company.
The agreement does not include the blockchain of iron fish or its native token, which will continue to operate independently “and not affiliated with Coinbase or Base”, under the Foundation Iron Fish.
The acquisition brings the main developers of Iron Fish, including CEO Elena Nadolinski and Jason Spafford, in Coinbase in order to form a new team focused on confidentiality within the base, working to develop tools preserving confidentiality for chain transactions.
Coinbase said that this decision had been made to ensure that everyone has access to improved confidentiality, which, according to her, is not optional “but is a” basic construction block “.
Confidentiality can be a challenge for blockchain networks, which often exhibit the details of the default transaction because it can be abused illicit activities. By integrating confidentiality features directly into the base, Coinbase stressed that it aims to offer developers tools to create more secure and more compliant decentralized applications.
Nadolinski will continue to sit on the board of directors of the Fish Foundation, ensuring the continuity of Duproject, adds the ad.
