- CoinBase has announced that ZCash will be added to CoinBase Pro
- This has fueled speculation that XLM will be the next to be added
- Currently, ZCash is not available to app and CoinBase.com users
As announced in a blog post, CoinBase pro has begun supporting Zcash for trading, deposits and withdrawals. This adds further fuel to speculation of Stellar XLM eventually being added to their coin roaster as customer demand for it has been high and there have been rumors as far back as July about XLM being added this year.
For now, the option of ZEC trading is only available to CoinBase Pro users in the US (excluding NY), UK, European Union, Canada, Singapore, and Australia. However, more locations will be added soon, the statement said.
Privacy on the blockchain
Zcash transactions are made with a greater level of privacy for users than with most coins. Zcash offers both ‘transparent’ and ‘shielded’ transactions. The difference between the two is due to their backend as the former has unencrypted HTTP and the later has encrypted HTTPS.
In the case of transparent transactions, the parties are able to access the metadata associated with the transaction while in the case of shielded transactions, they can not.
CoinBase Pro, for now, accepts deposits from both transparent and shielded transactions but only allows withdraws for transparent ones.
However, there are plans to enable the withdrawal of shielded transactions in the future.
Stages of launch
The statement highlighted the process of the launch of Zcash. It was explained that should one of the stages suffer a hitch, movement to the next stage would be delayed.
The first stage is the transfer-only stage and started at 10am PT on Thursday, November 29.
During this time ZEC could be deposited into CoinBase Pro wallets. However, orders could not be made and no orders would fill for a 12 hour period.
The second stage is the post-only stage where order limits can be filled but no matches will be made on the orders. The order books will also be in post-only mode for at least a minute.
The third stage is the limit-only stage where limit orders will start getting matched. However, customers will not be able to fill market orders.
The last stage is the full trading stage where full trading features will be enabled.