Cryptocurrency Exchange Coinbase Lists Four More Ethereum Tokens

The most popular US cryptocurrency exchange is continuing its promise to support Ethereum-based ERC20 tokens, adding four more of the coins to the Coinbase Pro platform.

Starting today, December 7, Coinbase Pro users can transfer their balances of Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA) to the exchange, and full trading will commence around 48 hours from today. The Coinbase announcement confirms:

“Once sufficient liquidity is established, trading will begin on each respective USDC order book. Trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, European Union, Canada, Singapore and Australia.”

There are four stages of launch for each token. Beginning with the acceptance of transfers into the platform, then “post-only” will allow the posting of limit orders for a short time, before limit orders will start matching. After this point, full trading will become available. The Coinbase Pro Twitter account will be updated at each stage.

The four coins will, for now, only be available on the Coinbase Pro platform for advanced trading and not the standard brokerage platform at Coinbase.com or within the firm’s mobile applications. Both services, Coinbase and Coinbase Pro, are free to register, but trading fees vary.  Availability of the new coins for more countries could also be added later.

Coinbase plans to list even more ERC20 tokens “over time” and reveals:

“We are exploring the addition of many new assets beyond ERC20 tokens on a jurisdiction-by-jurisdiction basis.”

ERC20 tokens, says Coinbase, integrate easily with its existing infrastructure “particularly from a security standpoint,” but the exchange acknowledges there are other popular coins it is yet to support.

ERC20 token 0x (ZRX) and the Coinbase stablecoin USDC (USD Coin) were added by the platform in October 2018, followed by Brave Browser’s Basic Attention Token (BAT) in early November. With the addition of four more coins now in December, Coinbase is delivering on its ERC20 support plans announced back in March 2018, and more additions look set to follow.


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Author: Melanie Kramer
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An exclusive insight into the exciting future of Loom Network

In an exclusive interview, Coininsider spoke to James Duffy from Loom Network. The interview is proudly brought to you by the Alchemist Blockchain Techstars Accelerator. Applications for the programme are open until the 28th of October, for more information visit Techstars.com.

According to Duffy, “Loom is a scaling solution for Ethereum through side-chains and the focus is on large-scale applications, primarily games and social apps.”

Loom was a company that underwent the Alchemist Blockchain Techstars Accelerator Programme. Duffy spoke about his experience with the programme:

“Techstars is really great, primarily because of their network. We’re close with Alex, one of the managing directors of Techstars New York, and he was immensely helpful in giving the project what it needed and finding intros to the most obscure people.”

Although Loom Network did not finish the entire programme, Duffy advocates that the team at Techstars added an exceptional value to helping the company. Having been through the programme, he thinks that engaging with accelerators such as Techstars is useful because it automatically lends a project credibility and legitimacy which is vital to stand out. He said that it also offers opportunities to meet high-profile funds if fundraising is one of the factors on which a company or project is focused.

Decentralized applications (DApps) are one of the fundamental focuses that Loom Network has, owing to their goal to get cryptocurrency users to adopt DApps into the mainstream. Duffy thinks that this will be key to over-all cryptocurrency adoption:

“Everyone is focusing on scalability, which is definitely a problem, but we think user adoption is an even bigger problem.”

Duffy explained the ‘Loom Vault’ which is a feature which offers users the opportunity for users to opt for Loom to manage the side-chain private keys. This feature is a side-service which allows users to sign in and not have to authenticate every single transaction. The platform would do it automatically which aids in a user-friendly approach.

Unlike other projects, Loom Network has not been slowed down by the bear market and the project’s roadmap has not shifted. Duffy expressed his personal view on the industry:

“I’m not really an anxious person, so if anything keeps me up at night, it’s the excitement of what we’re building. I think the future of blockchain gaming is really exciting because you can build things which weren’t possible before. For example, real ownership of digital assets is possible on the blockchain.”


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Author: REBECCA LEIGHTON
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