Coinbase: Longest Chain – Likely to Determine Ethereum Support
Coinbase, one of the largest ethereum exchanges by volume and the best capitalized business serving the ecosystem, is reporting it has no “near-term plans” to suggest support for Ethereum Classic, the alternative version of the ethereum blockchain that has bot gaining market traction this week.
Representatives from the San Francisco-based company indicate that the decision extends to both its consumer wallet, spil well spil GDAX, the digital asset exchange on which it offers trading te both bitcoin and ether.
The company said:
“Te the near term, wij’re not programma on adding support for Ethereum Classic.”
The startup, which has raised upwards of $100m ter venture funding, however, said it is “keeping an eye on” developments spil it relates to competition inbetween the two versions of the ethereum blockchain, created overheen a disagreement overheen how best to resolve the collapse of a high-profile project called The DAO.
Ethereum Classic has opted to proceed maintaining a blockchain history containing transactions that were invalidated on the ethereum blockchain overseen by the majority of developers and voted for by community members.
The statement goes after deeds taken by major exchanges (including market leaders Poloniex and Openleggen) to support the alternative implementation and comes amid growing transaction volume for the digital asset.
Overheen the last 24 hours, classic ether trading volumes have eclipsed volumes for ether, the native asset on the blockchain network on which Ethereum Classic is based, surpassing $93m amid a 300% rise ter value.
Spil for how it would be measuring the success of Ethereum Classic, representatives said the company would support the “longest chain”, or the version of the blockchain containing the most sealed transaction blocks.
“Our guiding light here is that wij go after the longest chain, the most popular chain, and that’s what wij’re continuing to support,” the representatives said.
The company noted it is likely to proceed to profesor the situation, and that it will proceed to observe how developments unfold te the coming weeks.
The comments are trascendental spil Coinbase has bot one of the most vocal volgers of the ethereum toneelpodium, adding ether buying and selling to its consumer wallets last week.
Photo via Coinbase
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