Coinbase, one of the most popular and the largest cryptocurrency exchange in the U.S, has now announced the purchase of an Ethereum startup service called Paradex which will allow customers to trade in hundreds of digital tokens directly with one another.
The deal took place for some undisclosed amount where Coinbase described Paradex as “a sophisticated and secure relay platform that will allow our customers to trade hundreds of tokens directly from their wallets.” The Paradex service currently employees 10 people and is developed using a protocol called 0x, that provides customers a gateway to access to less known digital currencies.
Brian Armstrong, CEO and founder of the Coinbase cryptocurrency exchange called the acquisition as reinforcing “Coinbase’s commitment to investing in decentralized infrastructure and participating in the nascent world of wallet-to-wallet trading.”
On Wednesday, May 23, the company also announced the rebranding of GDAX exchange to now called as Coinbase Pro. The new Coinbase Pro has been specifically designed for the individual digital currency traders and the company says that this new service was launched to suit the needs of individual traders. As stated in their , some of the salient features of the new Coinbase Pro service include:
All transactions and balances from GDAX will automatically appear in Coinbase Pro
A completely redesigned platform that will make the trading experience easier and more intuitive
Simplified deposit and withdrawal processes
Improved charts that will allow customers to easily scroll and access historical data
A new consolidated portfolio view called “My Wallets” that lets customers easily see an overview of their account orders and balances
The company has said that it will integrate the Paradex platform with the Coinbase Pro, which will allow all the Coinbase users trade “hundreds of tokens directly from their wallets” without the exchange in middle. As a result, Coinbase customers will get access to several other digital currencies. Currently, Coinbase offers its customers to trade only four digital currencies – bitcoin, Ethereum bitcoin Cash and Litecoin on its platform.
Asiff Hirji, Coinbase president and chief operating officer told CNBC’s ““, said that the company is willing to list “as many assets as possible”, however, the company is yet to get proper guidance following its discussion with the regulators. Hirji said: “As soon as there is more clarity we will list them as long as they adhere to our framework. But clarity is needed and I don’t think we’re close to that, unfortunately.”
The blog post also goes to mention that the new service will be first available to customers outside the U.S. The company said: “After making some product enhancements, we’ll initially offer this experience to customers outside the U.S., and eventually to U.S. customers after we implement changes.” Till the 29th of June, 2018, Coinbase Pro and GDAX will operate in tandem with each other after which “all customers will be seamlessly rolled over” to the new platform.
Paradex CEO, Ron Bernstein in a statement said: “Our team couldn’t be more proud of the work we’ve accomplished over the past year. And we couldn’t be more excited about this new chapter under the Coinbase umbrella.”
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Founder of the second largest cryptocurrency (Ethereum) – Vitalik Buterin has been recently approached by Google with a proposition to join the company and help the tech giant in their mysterious blockchain project. Buterin was quick to post the screenshot of the email and tweeted it on his official handle asking his followers, in a poll, whether he should be taking the job offer.
The screenshot revealed that a Google recruiter – Elizabeth Garcia has approached him in an email that states: “Hi Vitalik, I hope you are doing well and enjoying the weekend! […] Google make sense for you now or in the near future […].” In addition to the recruiter name, the screenshot also revealed information about the recruiter’s email address and her photo.
Along with the screenshot, Buterin had attached a poll asking his followers “Should I drop Ethereum and work for Google?” Before the poll was deleted, the poll had 2000 followers already voted, of which nearly 60% believed that he should not be taking the offer while the remaining 40% believed that he should join Google. One of the key reasons for Buterin to take down the tweet was because he failed to keep the recruiter’s details confidential.
Vitalik soon tweeted saying:
Too bad you can't quote tweet someone and add a poll.
— Vitalik "Not giving away ETH" Buterin (@VitalikButerin)
Vitalik’s final decision will certainly have a big impact on the entire Ethereum network as well as the crypto community. He is considered to be the face of Ethereum and the hope for many developers, so any decision to leave this project would significantly bring down the price of Ether tokens immediately.
In the past few months, Vitalik and his team have been working very hard trying to unlock several scalability issues with different solutions being worked out like Casper and Sharding, Proof-of-Stake protocol. Vitalik has been seen presenting on several conferences this year sharing his important thought and view about the future of blockchain and digital currencies and what steps need to be taken to bring them to the mainstream.
A Reddit users Fuyuki_Wataru on a about Buterin’s Google-related tweet, where he wrote:
“[Buterin is] free to do what he wants […] honestly his talent is too large to be caged in, even when at a company at [sic] Google. If you’ve achieved this much at such a young age, I think life has more plans for you. Perhaps a good 1-2 month vacation might be better.”
Despite Google shut down all the cryptocurrency and ICO-related advertisements on its platforms earlier this year, the company has been repeatedly showing its positive attitude towards blockchain technology. It is reportedly working on its own blockchain projects that involve using the distributed digital ledger for third-parties to verify transactions. In addition, the company also confirmed to be working on a blockchain-based cloud operations platform.
“Like many new technologies, we have individuals in various teams exploring potential use of blockchain, but it’s too early for us to speculate about any possible uses or plans,” said Google’s spokesperson in a word with this March.
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