Coinbase Announced ERC20 Support

This will allow to add a number of new assets to the platform in the future

27 March 2018 243

Coinbase announced that in the coming months it will implement the support of the technological standard ERC20. This will allow to add a number of new assets to the site in the future.

ERC20 standard is used in smart contracts Ethereum and has become very popular among developers and organizers of initial offers of coins.

As stated in the message, support for ERC20 will store a number of new assets with the help of Coinbase Custody, but not all of them will be available for trading on GDAX or Coinbase.

It is noted that the development team intends to wait for a clearer regulatory framework before deciding whether to add certain ERC20 assets to GDAX. In addition, the support of the standard will allow you to safely recover assets that are mistakenly sent by users to Ethereum-addresses of GDAX and Coinbase.

As for Coinbase Asset Management, according to the index methodology, any assets in the GDAX listing will be added to the Coinbase Index based on market capitalization.

In general, new assets will be able to get into the Coinbase listing only after they are added to GDAX. The assessment will be made on a number of parameters, including liquidity, price stability and other indicators of "market health." Any of the ERC20 assets that appeared on GDAX can be selected for addition to Coinbase.

At the same time, it is especially noted that, most likely, GDAX will have more new assets than Coinbase, so adding them to the latter is not guaranteed.

Finally, the implementation of ERC20 support in Coinbase Commerce is not yet planned.

Coinbase Exchanges

Coinbase Acquires Earn.com Project

Earn’s co-founder and CEO will join Coinbase as the company’s first Chief Technology Officer

17 April 2018 149

On April 16, Coinbase cryptocurrency exchange has announced the acquisition of another startup they found promising. Earn.com is a projects which is developing an app which should allow senders to pay users in digital currency for replying to emails and completing tasks.

A week ago we reported about the launch of Coinbase Ventures, whose goal is to help the most compelling companies to flourish, and yesterday we found out that Coinbase buys the open source, decentralized application and wallet, Cipher Browser.

Coinbase and Earn collaboration

Moreover, along with Earn.com acquisition, Coinbase also welcomed Earn’s co-founder and CEO, Balaji Srinivasan, who will join Coinbase as the company’s first Chief Technology Officer (CTO).

Over the last several years, the primary way most people have obtained cryptocurrency is through buying it, with many of these transactions facilitated by Coinbase. With this acquisition, we allow users to also earn crypto by doing things they already know how to do — like replying to emails and filling out surveys.

Earn.com announcement

For the users of Earn.com, everything will continue as before in the short term, with one exception as Earn.com has put the token launch on the back burner and plans to focus on integrating with Coinbase’s infrastructure and scaling up the service.