The Iron Fish platform, which is backed by a16z and Sequoia Capital, has just launched the mainnet of its top-tier blockchain after two years of development.
The network reportedly uses the proof-of-work consensus mechanism and zk-SNARK zero-knowledge proof-of-stake technology.
Prior to launch, developers conducted three rounds of testing between 2022 and 2023. At its peak, more than 60,000 nodes were active on the blockchain.
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Elena Nadolinsky, founder of the project, has said:
"Using zero-knowledge proofs and robust encryption standards, Iron Fish enables users to transact in a fully private way, without compromising on accessibility."
Another key aspect of the protocol is interoperability, allowing assets to be moved from other networks, including Bitcoin and Ethereum.
She has added:
"We want to support transparent bridges that have programmability. [...] You have the programmability of Ethereum and then if you want the privacy, you move the assets over to Iron Fish to transact, store, and swap privately."