Gemini has enabled shielded Zcash withdrawals to the Ironwood pool, the exchange announced. The feature allows users to send Zcash with enhanced privacy protections, using the network's latest shielded protocol.
The Ironwood pool
Zcash's Ironwood pool is the latest shielded pool on the network. Shielded transactions obscure the sender, receiver, and amount, providing a high level of anonymity. By supporting withdrawals directly to this pool, Gemini gives its users access to the most private transaction option available on Zcash.
Confidence boost for privacy coins
The move may bolster confidence in privacy-focused cryptocurrencies despite past vulnerabilities. Privacy coins have faced challenges, including regulatory scrutiny and technical issues that have sometimes compromised anonymity. Gemini's support for the Ironwood pool signals that the exchange sees value in offering private transaction options to its users.
Availability
The feature is live now for Gemini users. The news was first reported by Crypto Briefing.
