Coinbase to start supporting Ethereum Cryptocurrency

For anyone that has heard of Bitcoin, they have heard of Coinbase: One of the most well-known websites for bitcoin wallets and trade services. The bitcoin-only exchange is going to implementing the recently exploding Ethereum cryptocurrency, which value is currently at about $14 USD, making the second-largest cryptocurrency after bitcoin,.

Created by a Swiss entrepreneur Vitalik Buterin, Ethereum(ETH) is a different approach to the blockchain platform that boasts programmable transactions. As explained on their website, Ethereum bases itself off of the bitcoin API and allows for the user to create their own contracts that can activate without a user’s influence, also known as “smart contracts”. The actual cryptocurrency, Ether, is not merely a currency, but also a fuel to perform computations using the company’s Ethereum Virtual Machine to power and execute contracts. The digital currency is not aimed at replacing bitcoin, but as an addition to it, for allow for more innovations on the blockchain global architecture design.

The currency has been gaining traction lately, jumping a promising 1100% increase in value  in just mere months while garnering support and integration into Microsoft’s Azure cloud computing platform. Other companies such as IBM [5] and the Decentralized Autonomous Organization(DAO) have shown interest as well.

After full-time cryptocurrency traders tweeted images of Ethereum tabs shown in the Coinbase trade view window for exchange between USD and BTC, it seems that Coinbase will be adopting the digital currency by possibly creating wallets and trading services for the expanding possibilities that Ethereum hopes to accomplish. Because of this move by Coinbase, it will be able to facilitate more cryptocurrency exchanges using their service while spreading the word about Ethereum.

https://twitter.com/WhalePanda/status/733194899265327104

https://twitter.com/CollinCrypto/status/733196955770359808

 

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