Digital currency exchange Coinbase revealed its listing of cryptocurrency dash following an exploration period with the exchange that finished a week ago. Deposits will be acknowledged on September 16 followed by trades opening September 17 at 16:00 UTC.
Coinbase revealed its survey of eight digital currencies earlier last month. Of those under examination, dash is the first to be endorsed.
A proof-of-work digital currency, dash centers around payments and security. With a reported market cap of more than $800 million, as indicated by CoinMarketCap, Dash is the sixteenth biggest digital currency by that measurement.
Ryan Taylor, CEO of Dash Core Group, said listing on Coinbase Pro was an insightful procedure because of the guidelines Coinbase holds. As of late, the privacy features of dash have gone under investigation from different regulators and exchanges.
“Dash implements a privacy technique called CoinJoin,” Taylor stated. “CoinJoin has been implemented a number of times on the bitcoin blockchain. Dash is one of the first which is why it probably has been labelled as a privacy coin.”
“This is what Coinbase understands and what we’ve been educating exchanges and regulators about,” he included.
CoinJoin mixes several transactions into a single transaction on the blockchain. The procedure makes it progressively hard to recognize where payments are coordinated going. Not at all like other privacy coins protocols, including monero’s bulletproofs or zcash’s zk-SNARK implementation, CoinJoin’s are not entirely anonymous.
“It’s important for our users to the access and so its important regulators know the distinction,” he further said.
“Our implementation of coinjoin is sophisticated and has a high level of privacy. The important thing to note is there is no legal status difference” among bitcoin and dash.
With over 30 million clients, Coinbase Pro is one of the biggest crypto exchanges by volume.