The cryptocurrency exchange Coinbase announced the listing of cryptocurrency Dash after a period of exploration with the exchange that ended last week. Deposits are accepted today, followed by trading openings on Tuesday at 16:00 UTC.
Coinbase announced the review of eight cryptocurrencies early last month. Of the study participants, dash is the first to be approved.
Dash is a proof-of-work cryptocurrency and is focused on payments and security. With a reported market cap of over $ 800 million, Dash is the 16th largest cryptocurrency by that metric, according to Messari.
In an interview with CoinDesk, Ryan Taylor, CEO of the Dash Core Group, said that listing on Coinbase Pro is a research process due to Coinbase’s standards. Recently, Dash’s privacy features have been reviewed by other exchanges and regulators.
“Dash implements a data protection technique called CoinJoin,” said Taylor. “CoinJoin has been implemented several times in the Bitcoin blockchain. Dash is one of the first, which is probably why it was called a privacy coin. “
“This is what Coinbase understands and what we educated exchanges and regulators about,” he added.
CoinJoin mixes transactions into a single transaction on the blockchain. The process makes it harder to see where the payments are going. Unlike other privacy coin protocols, including Monero’s Bulletproofs or zcash’s zk-SNARK implementation, CoinJoins are not entirely anonymous.
“Access is important to our users, so major regulators know the difference,” he continued.
“Our implementation of Coinjoin is demanding and offers a high level of privacy. It is important to note that there is no difference in legal status between Bitcoin and Dash.
With over 30 million users, Coinbase Pro is one of the largest crypto exchanges in terms of volume.
Dash image via Shutterstock