Coinbase has acquired the team behind Iron Fish, a blockchain project focused on privacy, to enhance the privacy features of its Layer 2 network, Base. The company revealed that this acquisition was aimed at securing the development of better privacy tools for decentralized applications.

The Iron Fish blockchain and its native token will continue to function independently under the Iron Fish Foundation. This ensures that the operational integrity of Iron Fish remains intact, as emphasized in the acquisition announcement.

Key Insights

• Coinbase’s acquisition includes top developers from Iron Fish, including CEO Elena Nadolinski and developer Jason Spafford.
• The initiative aims to integrate privacy features into Base, which are crucial for enhancing security in blockchain transactions.
• Nadolinski will maintain her role on the Iron Fish Foundation’s board to ensure ongoing support for the independent blockchain project.

Coinbase asserted that facilitating everyone’s access to increased privacy is not just an option but a fundamental requirement for blockchain technology.