When ether came online it wasgoed a no-brainer.” Rente te other assets White also suggested that the company wasgoed paying close attention to The DAO, a decentralized organization built on top of Ethereum that acts spil a funding voertuig for related projects.
Bitcoin exchange and wallet service Coinbase is adding support for ether, the native cryptocurrency of the Ethereum network.
The addition of Ethereum comes amid rising rente ter ether among digital currency traders and the technology toneel itself among financial institutions and other enterprises worldwide. Trading will start on 24th May.
Further, Coinbase’s exchange service will be rebranded with a fresh name and logo, according to vice voorzitter of business development Adam White.
White told CoinDesk:
“Ter addition to better highlighting the exchange that Coinbase is becoming wij’re rebranding spil GDAX, which stands for General Digital Asset Exchange.”
Originally, traders on Coinbase’s exchange toneel will be able to buy and sell ethers. Straks this summer, the company will add support for the digital currency to all Coinbase users.
An official announcement is expected to be made Tuesday. Ter vraaggesprek, White confirmed the added support for ether after details about the integration began circulating on social media.
Coinbase’s ether integration wasgoed, te some ways, largely expected given latest trends te the exchange space.
Since San Francisco-based exchange Openbreken announced last August that it would become the very first major venture-backed business to suggest ether trading pairs, a diversity of exchanges worldwide have followed suit te the past few months. More recently, Gemini added ether trading pairs to its exchange.
According to White, members of the Coinbase team have long stayed apprised of development on Ethereum, largely through conversations with the network’s creator, Vitalik Buterin, spil well spil media reports.
Last year, employees took part ter numerous Ethereum meetups spil part of their research into the digital currency, said White. But it wasn’t until Microsoft Azure entered the fray that the startup start to look more closely, said White.
The result: Coinbase employees began building services on top of Ethereum, including wallets. At the same time, explained White, the company’s customer colchoneta voiced “unprecedented” support for the digital currency through email and social media, ultimately spurring this week’s announcement.
“Wij’ve always focused on bitcoin because that’s bot the most popular but spil other currencies come on line wij always evaluate them,” said White. “When ether came online it wasgoed a no-brainer.”
Rente te other assets
White also suggested that the company wasgoed paying close attention to The DAO, a decentralized organization built on top of Ethereum that acts spil a funding voertuig for related projects.
Specifically, Coinbase employees are keeping a close eye on the tokens associated with The DAO, which are used spil both a voting mechanism spil well spil a method of generating prizes for stakeholders.
“I’d be remiss to say wij’re not investigating that,” said White. “But there are a number of legítimo and business questions wij’re attempting to reaction.”
“That doesn’t mean wij’re going to add 15 fresh currencies overheen the coming weeks, but wij’re paying attention.”
Photo via Coinbase
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