Tag Archives: Coinbase

World of Ether Partners with Coinbase’s Toshi

World of Ether, an Ethereum based crypto collectible game, has just sealed a partnership that will catapult the game straight to the top. The team behind the project is steadily ramping up for their Q1 release and to date, has sold 1711 “presale” eggs on the game’s site. Each egg hatches into a monster that you can either collect, battle, breed, sire or sell. The community around the game is buzzing as players anxiously await new and emerging details on the game’s intricacies. Well, folks, the team at World of Ether has officially partnered with Coinbase’s app, Toshi. Toshi is a mobile browser for the Ethereum blockchain, and it allows users on their mobile devices to interface with decentralized applications (dApps). This is huge news for egg holders as originally the game could only be accessed via desktop, with MetaMask. With this new partnership, users can play World of Ether anywhere.

Reference: https://cryptocurrencynews.com/crypto-games/world-ether-mobile-coinbase/

Crypto Exchange Coinbase to Use Machine Learning for Customer ID Verification

The demand for Cryptocurrencies increased exponentially over the past few months and exchanges have not been able to keep up with the demand. Some exchanges have entirely stopped new user sign-ups. One of the biggest exchanges of them all, Coinbase, has also faced many issues and admitted poor customer experience for verification in a blog post. Here’s a chart compiled by a twitter user showing Coinbase’s growth over the past few years. The chart has not been updated since November 2017 because the company no longer provides the info. But one look at the chart should give you an idea of the demand for Cryptocurrencies in the last quarter of 2017. At its peak, Coinbase was adding 100,000 users a day.

Reference: https://www.ccn.com/crypto-exchange-coinbase-to-use-machine-learning-for-identity-verification/

Coinbase to Implement SegWit ‘In the Next Few Weeks’

The company made the announcement on Twitter, stating that “our engineering team has begun the final testing phase of SegWit for Bitcoin” and that “SegWit-compatible Bitcoin sends/receives will be available for customers in the next few weeks.” As CCN reported, SegWit (or Segregated Witness) was activated on the Bitcoin network via a soft fork last August. By decreasing the size of transactions, SegWit lowers fees and optimizes the limited space in Bitcoin blocks. However, users only take advantage of this feature if they use SegWit-compatible wallet addresses. According to data from hardware wallet manufacturer Trezor, only about 15 percent of Bitcoin transactions currently employ SegWit, down from a high of about 18 percent in late January. This recent reduction could be linked to users taking advantage of lower transaction fees to move funds from legacy addresses to SegWit-compatible ones, but in any case it is clear that the network is not experiencing the full benefits that the scaling upgrade offers, in part because Coinbase and a few other large firms have been slow to implement it.

Reference: https://www.ccn.com/coinbase-implement-segwit-next-weeks/

Facebook Messenger Unlikely to Support Crypto

Facebook Messenger is unlikely to embrace cryptocurrency payments anytime soon according to David Marcus, Facebook’s vice president of messaging. In a recent interview with CNBC, the former president of PayPal pointed to perceived issues with existing cryptocurrencies, specifying high transaction fees and slow transaction times as reasons why the product isn’t likely to introduce the technology as a payment method, at least in the near term. However, Marcus, who joined the board of Coinbase in late 2017, did leave the door open to allowing such payments in the future, saying that when blockchain developer communities “fix all the issues,” it’s possible that the company will “do something” to open up the option.

Reference: https://www.coindesk.com/ex-paypal-president-facebook-messenger-unlikely-support-crypto/

Coinbase Overshoots 2017 Revenue Goal By 66%

America’s largest cryptocurrency exchange Coinbase reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent, Recode reports, citing “industry sources.” According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets.

The platform was swamped by an influx of new users looking to set up trading accounts as Bitcoin entered a massive bull run in November, 2017. Following the announcement of Bitcoin futures launch early that month on CME, Coinbase saw 100,000 new users sign up in just 24 hours.

Reference: https://cointelegraph.com/news/coinbase-overshoots-2017-revenue-goal-by-66-making-1-bln-rejects-further-vc-funding