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Robert Sasu on X emphasizes the strengths of Proof-of-Stake (PoS) over Proof-of-Work (PoW). PoS dominates across security, decentralization, and economic efficiency. While PoW allows open participation, Delegated Proof-of-Stake (dPoS) also enables accessibility with minimal initial capital. However, broader distribution remains necessary for credibility. Enhanced governance, akin to Switzerland’s model, could improve decision-making and encourage participation. Blockchain’s power lies in decentralization , automation, and provable history. Consequently, cryptocurrency emerged from blockchain rather than vice versa. More development and public involvement are essential to maximize its potential. Justin Bons asserts that PoS outperforms PoW in all aspects. It offers superior security, fairness, and economic sustainability. He questions why PoW chains remain relevant when PoS technology has advanced significantly. Many still support PoW, possibly due to financial interests rather than logical reasoning. Despite PoW’s historical significance, PoS provides a more scalable and efficient framework for blockchain networks. The blockchain development team from Iron Fish was purchased by Base, a Layer 2 initiative supported by Coinbase. The acquisition is intended to increase Base’s ecosystem’s privacy. Zero-knowledge proofs, or zk-SNARKs, are utilized by Iron Fish, a proof-of-work blockchain with a privacy focus , to facilitate private transactions. The acquisition does not include Iron Fish’s blockchain or native token. Instead, it focuses solely on integrating the development team’s expertise into Base. This ensures Iron Fish remains independent while benefiting from Base’s privacy initiatives. Iron Fish confirmed the transition on X, stating its commitment to scaling privacy solutions. Founder Elena Nadolinski will retain her position on the Iron Fish Foundation board. This implies Iron Fish’s governance remains intact despite the team’s transition. Iron Fish launched its mainnet in 2023 after two years of incubation. However, it failed to fly. It raised $28 million in 2021 with support from Andreessen Horowitz to develop its privacy blockchain. Nevertheless, adoption problems were still present despite the capital. This acquisition marks a strategic shift for the Iron Fish team. It allows them to contribute privacy-preserving primitives to Base while maintaining Iron Fish’s autonomy. As blockchain privacy solutions advance, this move signifies a broader industry focus on security and user protection. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Base Network acquires Iron Fish development team Coinbase-backed layer-2 project Base has acquired the development team of privacy-focused blockchain Iron Fish to enhance privacy-preserving technologies, The Block reported. However, the acquisition does not include the Iron Fish project itself, which will remain independent, with founder Elena Nadolinski continuing on its foundation’s board.

Base acquires team at PoW blockchain Iron Fish to develop 'privacy-preserving primitives'

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