Coinbase Announced ERC20 Support

This will allow to add a number of new assets to the platform in the future
27 March 2018   615

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 CEO to Launch Charity Crypto Fund

At the moment, the fund has already raised $ 3.5 million, of which $ 1 million was personally invested by Armstrong
28 June 2018   279

Brian Armstrong, co-founder and CEO of Coinbase, announced the launch of a charitable cryptocurrency fund called GiveCrypto. Armstrong plans to attract $ 1 billion in the next two years. This is reported by Brian himself via Twitter.

According to Armstrong, having managed to earn big money on bitcoin and other crypto-currencies, community members should help the needy all over the world, and not position themselves as cool guys in Lamborghini. This will help to open new scenarios for the use of cryptocurrency, and, undoubtedly, will promote its further popularization.

He also noted that donations in the cryptocurrency can reach people directly, eliminating the likelihood of corruption and abuse.

Cryptocurrency is unique in that it can be used to send small amounts of money anywhere in the world, in real-time directly to an individual in need — they just need a mobile device with an internet connection. With distribution of aid to foreign countries, high fees and corruption are unfortunately common; cryptocurrency is a way of circumventing both.

Brian Armstrong

CEO, Coinbase

To date, the fund has already raised $ 3.5 million, of which $ 1 million was personally invested by Armstrong. Also reported that the contribution of more than $ 1 million was made by the executive chairman and co-founder of Ripple Chris Larsen.

Other contributors are Chinese mining giant Bitmain and venture capitalist Fred Wilson; they contributed more than $ 100,000 each.

GiveCrypto plans to start helping those in need after the amount of donations reaches $ 10 million, but the long-term goal of the fund is $ 1 billion over the next two years.