Coinbase releases new upgrade for USD Coin (USDC)

Coinbase releases new upgrade for USD Coin (USDC)
фото показано с : invezz.com

2020-8-29 12:45

The Ethereum network has seen quite a significant surge in transaction fees lately. In fact, the increase has been so big that it has become a major problem for crypto users. As a result, many different crypto businesses and projects were trying to find a solution, with the latest one on that list being The US’ largest crypto exchange, Coinbase.

Gas prices on Ethereum have been skyrocketing over the past month. Average gas price is now 41 Gwei, up 4x since end of April.

It uses oscillates between 10-15 outside of high periods of stress (i.e. Black Thursday). pic.twitter.com/RJmdquQNdC

— Ceteris Paribus (@ceterispar1bus) May 15, 2020

According to a recent announcement, Coinbase recently collaborated with Circle to launch a new and improved version of the popular stablecoin, USD Coin (USDC). The upgrade went live yesterday, August 27th, and its goal was to reduce high gas prices by letting developers to take fees in USDC,

According to the announcement, the high ETH fees have led to most users having to keep a constant supply of extra Ether in their wallets, just to be able to make transactions. This is an unnecessary complication that might stand in the way of adoption and usage of the stablecoin,

What changes did the upgrade bring?

The so-called USDC 2.0 will address the issue by bringing a new concept of ‘gasless sends.’ Basically, it will allow wallet developers to distance themselves from the complicated gas fees, and let them delegate payments of gas fees to different addresses.

This would negate then need for users to keep extra ETH just so that they could send USDC between addresses. Further, it would allow developers to either pay the fees on users’ behalf, or transfer that burden to a different service.

The end result would be the removal of Ethereum from the process, and the ability to send and receive USDC payments with fees paid in USDC itself.

On top of that, the coin will also have additional security, such as the new on-chain multi-signature contracts that will feature new consensus mechanisms. Not only that, but there will be no impacts or changes to any app, wallet, or exchange that uses USDC.

The post Coinbase releases new upgrade for USD Coin (USDC) appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 4.67 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0078134 (-100%)

crypto coinbase projects trying result many users

Источник: invezz.com

crypto coinbase → Результатов: 126


SEC Counters Coinbase’s Petition For New Crypto Regulations

The US Securities and Exchange Commission (SEC) has filed a countermotion against Coinbase’s rulemaking petition for the crypto industry. In a brief submitted on May 10, the US regulator argues against Coinbase’s request stating there is no need for creating a regulatory framework for crypto assets in place of existing US securities laws. Related Reading: […]

2024-5-12 10:38


Looking To Build Your Own Crypto Startup? Here Are The Top 10 Ideas From Coinbase’s CEO

As the crypto market heads toward another Bitcoin halving expected to trigger a bull market, crypto founders are gearing up to start launching their startups in a more profitable climate. If you are one of these startup founders interested in crypto, Coinbase CEO Brian Armstrong has outlined 10 ideas that would lead to profitable businesses. […]

2023-9-1 02:00


Bitcoin, Solana community calls out Coinbase CEO on crypto payment vision

The vision for a future where crypto payments are instant, accessible, and global has ignited a spirited debate among industry leaders on the path toward achieving this goal. As reported by Brian Armstrong, CEO of Coinbase, the crypto industry, including Coinbase, focuses on integrating layer 2 solutions, better on-ramps, and simpler user experiences to bring […] The post Bitcoin, Solana community calls out Coinbase CEO on crypto payment vision appeared first on CryptoSlate.

2023-7-28 20:00


Coinbase CEO says crypto will heal, take 15% of global GDP 

Coinbase founder and CEO Brian Armstrong dismissed the current pessimistic approaches to the market and said crypto would take 15% of global GDP in 20 years.  Speaking at Coinbase’s Q1 earnings call, Armstrong said: “In my mind, this  [crypto] is a little bit like the early days of the Internet, where you saw the birth […] The post Coinbase CEO says crypto will heal, take 15% of global GDP  appeared first on CryptoSlate.

2022-5-14 02:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin ETFs record second-best inflow day since March, $886.6m added

The U.S.-based spot Bitcoin exchange-traded funds (ETFs) have experienced their second-best-ever joint net inflow day, with preliminary data indicating an inflow of $886.6 million. According to data from Farside Investors, the Fidelity Wise Origin Bitcoin Fund (FBTC) led with an…

Bitcoin ETFs see $45m in inflows

Spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded a net inflow of $45 million on May 28.   This extended their win rate to 11 straight days despite the Grayscale Bitcoin Trust ETF (GBTC) experiencing $105.