Coinbase Stops Multisig Vaults Support

. Support for multi-signature vaults will stop on April 19 this year
23 March 2018   352

The American cryptocurrency company Coinbase stops multisig vaults support, whose additional level of security is provided by the multi-signature function. This is reported by Bitcoin.com.

Among the main reasons for this decision, representatives of the company call the low popularity of this option among customers, as well as negative feedback from them. Support for multi-signature vaults will stop on April 19 this year.

By removing this functionality, engineering time spent on supporting multisig vaults can be reallocated to continued investment in the security and reliability of our platform, which is of critical importance to our customers.
 

Coinbase Team

Also company explained that the increase in the number of bitcoin hardforks complicates the maintenance of such vaults, as well as ensuring the possibility of withdrawing coins that appear as a result of these events.

For users of multisig vaults, the company recommends making sure that they have two private keys required to manage their assets.

Coinbase to acquire Paradex

Coinbase plans to expand the number of coins traded on the exchange by acquiring the Paradex, a decentralized smart contract-powered trading service
24 May 2018   78

While providing trading in only four big-time cryptos (Bitcoin, Ethereum, Litecoin and Bitcoin Cash) San Francisco-based exchange Coinbase has been steadily growing in popularity since the opening. And now they plan to expand their operations by acquisition of Paradex, a decentralized smart contact-powered trading platform.

The news about the deal were released on May 24, 2018, though no financial details were disclosed as of yet.

Though Paradex is a small company with only ten employees as of now, Coinbase's acquisition of Paradex will provide their customers with ability to trade hundreds of cryptocurrencies straight from their wallets. Its a significant step for the company, because while US Securities Exchange Commission considers various ICO coins to be equal to securities and so exchanges have to be registered with regulators. Paradex gives Coinbase a chance to abstain from such regulations, because the exchange itself wouldn't be a trader, only a platform for the smart contracts to be stored and deployed from. So the exchange doesn't have to fear crossing SEC in case some of the listed coins are later judged to be commodities.

Over 13 million users will get access to the new functionality in the near future, with release outside of the US once the some technological improvements and integration into the larger platform is complete. And domestic market would see the new features once the appropriate “changes for compliance purposes” are finished.