Coinbase developed a service for cryptocurrency payments for goods and services

With Coinbase Commerce merchants now have an ability to accept directly multiple cryptocurrencies
15 February 2018   53

Following a quiet test period, on February 14 Coinbase Commerce has become available for all merchants globally. The service monitors, validates and confirms user transactions on each blockchain of Bitcoin, Bitcoin Cash, Ethereum and Litecoin with the payments performed on-chain. Another key specifics is that Coinbase Commerce gives a full control over its own currency as the service is not hosted.

The access to the service is very simple: all a merchant needs to provide is his e-mail address and his phone number. Coinbase Commerce can be intergrated directly into checkout flow or added as another payment option on an e-comm platform. According to the announcement, the service is already integrated with Shopify, one of the largest multi-channel commerce platforms.

As for the current competitors of Coinbase Commerce, it’s the largest Bitcoin payment processor Bitpay. Bitpay has been the dominant player in the sector for a while.

As for the apperance, it will work as a PayPal plugin: once the customer reached the checkout page, one can view Coinbase Commerce button along with traditional PayPal and Credit Card. Upon clicking the Coinbase Commerce button, a new window pops up with the product cost and a crypto address to proceed the payment. QR code payment is also available.

Coinbase Implemented SegWit

One of the largest cryptocurrency exchange now supports SegWit protocol
21 February 2018   125

The leading crypto exchange of digital assets Coinbase announced the imminent launch of Segmental Witness (SegWit) protocol.

The SegWit protocol was activated in the bitcoin network in August 2017, but even after six months a number of large companies still did not support it. Coinbase turned out to be under a separate wave of criticism - a few months ago the company expressed support for some dubious decisions that could potentially increase its profits, but would hardly contribute to the healthy development of bitcoin as a whole.

It is important that Coinbase has one of the largest user bases in the bitcoin industry, and SegWit support will surely have a positive impact on both the total number of SegWit transactions on the network and the reduction of commissions.