Layer-1 Zero-Knowledge Platform Leaps After Sudden Surprise Coinbase Listing
The native token of a privacy-focused zero-knowledge layer-1 blockchain is on the rise after being listed on the top US crypto exchange by trading volume.
Less than 24 hours ago, Coinbase listed Aleo ( ALEO ) under the experimental label.
“Coinbase customers can log in to buy, sell, convert, send, receive or store these assets.”
The experimental label indicates a high-volatility asset that is new to the platform. These assets typically have a low trading volume compared to more established cryptocurrencies.
According to its website , Aleo’s protocol prioritizes privacy and scalability by leveraging zero-knowledge proofs to help ensure user privacy. Zero-knowledge proofs enable one party (the prover) to prove to another party (the verifier) that it possesses a certain value without revealing its actual value. According to Aleo, its network utilizes zero-knowledge proofs so that users can prove that they have the necessary funds to complete a transaction without revealing their specific balance or transaction details.
In a tweet, the network announced it will be partnering with Coinbase in other ways as well.
“We’re excited to announce that Aleo has selected Coinbase to support custody and several exciting programs across Learn Rewards, Quests, and Staking.”
Says Aleo CEO Alex Pruden,
“We chose Coinbase because of their unmatched experience and robust infrastructure. Their integrated product offerings are exactly what we need to support the successful launch and long-term growth of the Aleo Network.”
Aleo is trading for $3.39 at time of writing, up about 6% from its launch less than 24 hours ago.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/Warm_Tail
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Standard Chartered Analysts Predict Stablecoins Will Represent 10 Percent of US Economy in the Future!
Analysts at Standard Chartered and Zodia Markets predict that stablecoin adoption will see significant growth, potentially representing 10% of US M2 transactions in the future.
Is $100,000 the Limit in the Bitcoin Rally or Will It Continue? Here’s a Clear Opinion for the Top
While the Bitcoin price has reached the $100,000 limit, the questioning of what goes beyond this level has begun. Here are the details.
Why the Public Isn’t Showing as Much Interest as Previous Bulls, Even as Bitcoin Nears $100,000? Here’s the Data and the Answer
Why is there not as much interest as before, even though the Bitcoin price has pushed the previously unimaginable $100,000 level? Here is the data.
Hong Kong Giant Company Disposed of This Altcoin and Purchased Bitcoin (BTC) Instead!
A giant Hong Kong company exchanged its Ethereum holdings for Bitcoin.