Coinbase CEO reveals 'private transactions' are coming to Base

Coinbase CEO Brian Armstrong confirmed that the company is actively developing private transactions for its Ethereum layer-2 network, Base, a mission bolstered by the March acquisition of the crypto privacy platform Iron Fish. While Armstrong stated more details would follow soon, he did not address community concerns regarding whether these privacy features would necessitate Know Your Client (KYC) checks. The privacy solution is expected to be based on Iron Fish's technology, which utilizes zero-knowledge proofs and "view keys." These view keys allow users to grant read-only access to data for enforcement agencies upon request, suggesting the transactions may not be fully anonymous. Iron Fish's system also uses the ChainPort bridge and a threat detection system to ensure only "clean funds" enter its network, and it already supports a privacy version of wrapped USDC on various blockchains, including Base.

(Source：Cointelegraph)