Coinbase Base Get the Iron Fish team to enhance privacy on Layer 2

The Layer 2 network, which includes Coinbase, has announced the obtaining of the Iron Fish development team, a Blockchain project that focuses on privacy. The last step aims to enhance privacy features within the base.

The acquisition focuses on integrating the experience of the Iron Fish team and does not include the Fish Blockchain or the original distinctive symbol, both of which will continue to work independently under the Iron Fish Foundation Foundation.

Privacy -focused expansion

The main members of the INON FISH team, including CEO ENEANA NADOLINSKI and Jason SpaFord, will join their experience to address the transparency challenges related to Blockchain networks, according to the official, according to the official. advertisement.

Meanwhile, Nadolinski will continue its role in the IRON FISH Board of Directors in an attempt to ensure that the governance structure remains in the project.

Iron Fish, who is famous for taking advantage of the Zk-Snarks to ensure the confidentiality of transactions, which was launched in 2023 after more than two years of development. She received $ 28 million in a 2021 financing round led by Andrink Horwitz.

By integrating the Iron Fish team, Coinbase aims to provide developers with tools to build safer and compatible in -laws. This initiative is in line with Coinbase’s goal of progressing privacy features in its ecosystem.

Iron open This connection has seen a great growth that is currently blocked to 27 transparent chains with the help of Chainport. To deter bad actors, Iron Fish carried out the sanctions examination of each transaction. The USDC has also enabled a special cabbage from the base and is preparing to release a mobile app to provide users with a special intravenous experience in cryptocurrencies.

“We believe that the base is in a unique position of the world on encryption, and we are incredibly enthusiastic about building a special solution that can achieve real collective dependence, making special transactions the standard rather than exception.”

The base is struggling amid uncertainty in the market

The latest acquisition comes at a time when the foundations face difficulties amid high fluctuations in the broader market, despite the impressive market in introducing more than a year.

The network had previously reached a height of $ 4 billion in TVL in December 2024, but it has since decreased to $ 2.8 billion, as it continued to struggle to maintain its previous momentum.