San Francisco headquartered Bitcoin wallet and exchange Coinbase has finally added Ethereum support for its retail clients that can now buy, sell, send, and store ETH in their accounts. The move has been expected since May when Coinbase added Ethereum trading on GDAX, its institutional digital asset exchange.
Marking the occasion, Fred Ehrsam, the co-founder of Coinbase, went on an AMA on Reddit to answer questions from the community. He talked about restoring CAD accounts once they find a payment service provider or bank in Canada, his views on the cryptocurrency market and blockchain development as well as experimenting with dapps.
One of the most interesting questions regarding Ethereum was about the possibility of smart contracts or decentralised p2p exchanges one day disrupting Coinbase’s business model. Ehrsam answered: “My current thought is it is very challenging to run a performant decentralized exchange though. I love that they exist, but it feels like it is going to be a while before they can handle the type of volume that is going through digital currency exchanges right now, let alone what it will be in a year or two.
There are literally thousands of updates to the orderbook a second, more at the Wall St volume levels. That’s a lot to do decentralized. Maybe