Ethereum Classic to Coinbase
Coinbase has announced that plans to add ethereum classic, the date is not yet known but those are his intentions for the next few months, the announcement made through social networks caused a pump of the currency, provide in principle support and not the currency directly, coinbase has different services, not only the wallet that we know, apart from the gdax exchange and it has coinbase pro, custody, prime, and even the coinbase asset management, which is an index.
The reason to communicate it now is because they will start with the technical phase of the implementation, which is one of the steps they follow every time they implement a new currency, those who understand some programming could see signs that they are preparing the implementation of ethereum classic on the web and that is why coinbase comes forward and makes the announcement that they are in that process.
The steps that coinbase implements to list a currency, first as an internal committee makes a sort of selection of the assets that could be added, there in that committee is filtered, the legal issues are studied and the risk that can add that asset, if it passes to the second phase that would be the risk analysis, then it is presented to the board of directors of coinbase for approval, if the executive team already in the third step approves it is when it is officially announced through its blog and twitter as they have made with ethereum classic, still at this moment it is not implemented at all, they only know that they will add it because it has passed all the important phases of legal risk review.
It´s in phase four when it could be seen publicly, those who understand programming could see that the APIs are being implemented, in the fifth phase the announcement would be made through their blog and twitter the final phase of testing for the integration of ethereum classic, in phase six they announce when they complete the integration completely and 24 hours before they can start trading they will allow deposits to their platform so that nobody will run out of time and finally after evaluating different factors of risk as liquidity, stability, etc, the selection committee could decide to incorporate this asset to the coinbase platform, specifically to its wallet.
Coinbase already announced before talking about ethereum classic, they were going to give support to erc20 tokens ie the blockchain of ethreum and future bitcoin forks, it is an important news because we can see that as coinbase is open to add new currencies, which token erc20 could implement, we will see tron is not going to be because tron is already implementing its own blockchain so it will no longer be an erc20 token, neither is it, and there are others that are on the way to having their own blockchain, particularly I would like to see bat and civic among those tokens added to this platform.
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