Coinbase acquired a Neutrino startup for blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details analytics as part of a new business plan to expand its services, as reported by the CoinDesk news agency.
On February 19, the CoinDesk news portal announced that the Neutrino startup would now collaborate from Coinbase to research new assets and verify accounts. According to the report, Neutrino will also help to track illegal actions on the exchange.
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Coinbase and Neutrino collaboration
Coinbase Director, Varun Srinivasan, commented on the collaboration: "This (collaboration) is especially important for us, as we work with government regulators and private agencies in different countries (...) We need additional efforts to bring new assets to new companies (...) Neutrino will help determine which new tokens are gaining value."
According to the information, eight employees of the Neutrino startup will move to the London office of Coinbase by the end of this week. At the same time, the team will work as a separate unit and will not cease serving its "personal" clients.
Coinbase representatives also reported that the Neutrino division will be engaged in the selection and analysis of new tokens for listing exchanges. Also, the developers of the startup will help the exchange to cope with "undesirable actions" – thefts, price manipulation, fraudulent tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details schemes.
The financial terms of the deal between Coinbase and Neutrino were not disclosed.
Recall that a few weeks ago, an Israeli analytical company Whitestream discovered an account on Coinbase, which regularly made donations in Bitcoins to the wallet of a terrorist organization. Experts suggest that hiring Neutrino developers is directly related to this incident.
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Coinbase Exchange collaborates with Neutrino to expand the range of services. Neutrino CEO, Giancarlo Russo, said that this was the "milestone" for the startup.
"We decided to join Coinbase because we fully agree with the company's mission to create an open financial system, and we share the same desire for regulation, respect for security in the cryptocurrency space." – Giancarlo Russo.
Editor: Yuliya Soroka