GDAX released a criteria system for new coins listing

GDAX Digital Asset Framework will help GDAX team to evaluate a cryptocurrency before adding it to the listing
03 November 2017   1757

The GDAX Cryptocurrency Exchange (part of Coinbase) has developed a set of principles according to which new coins will be selected by the site management for further listing.

In a document called the GDAX Digital Asset Framework, the exchange management listed the criteria that crypto assets must meet before adding to he exchange.

In particular, the administration of the exchange will assess whether a particular asset of the mission corresponds to the values ​​of GDAX, and whether it falls within the scope of the requirements of the federal securities legislation. Also, the administration will take into account:

  • the developer's reputation
  • the ethical standards of the project team,
  • examples of real use of the crypto currency,
  • the openness of its source code,
  • various security aspects,
  • the volume of trades and
  • capitalization,
  • user support,
  • the size of commissions for transactions,
  • and more.

Customers often ask us how we decide which assets to support. By sharing this framework we hope to improve transparency and highlight the factors we evaluate when considering which new assets to support on GDAX.
This framework is not intended to be a definitive methodology, investment advice, or a commitment to support any specific asset. As the technology, use cases, and regulatory environment evolve, so too will this framework. We are committed to supporting more assets, but our priority is always to protect customer funds and comply with regulatory requirements.

Adam White
Head, GDAX

 White also added that next year GDAX will add support for several cryptocurrencies.

It should be noted that to date, GDAX has maintained an extremely conservative position in the issue of adding new crypto assets to the platform. So, at the moment the exchange supports only three "top" crypto-currencies: Bitcoin, Ethereum and Litecoin. GDAX is 7th largest cryptocurrency exchange in the world.

Coinbase Implemented SegWit

One of the largest cryptocurrency exchange now supports SegWit protocol
21 February 2018   124

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.