The native token of a privacy-focused, zero-knowledge layer-1 blockchain is surging after being listed on the top U.S. 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 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 ensure user privacy. Zero-knowledge proofs allow one party (the prover) to prove to another party (the verifier) that they own a certain value without revealing its true value. According to Aleo, its network uses zero-knowledge proofs so that users can prove that they have the funds to complete a transaction without revealing their specific balance or transaction details.
In a tweet, the network announced that it would also partner with Coinbase in other ways.
“We are excited to announce that Aleo has selected Coinbase to support custody and several exciting programs across Learn Rewards, Quests, and Staking.”
Alex Pruden, CEO of Aleo, says:
“We selected Coinbase because of their unmatched experience and strong 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 at $3.39 at the time of writing, up about 6% since its launch less than 24 hours ago.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check price
Follow us on XFacebook and Telegram
Surf the Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Warm_Tail
