Cryptocurrency

15/01/19 05:39 UTC-4

Coinbase announces support for Ethereum hard-fork

Coinbase supported Ethereum hard-fork
Coinbase supported Ethereum hard-fork

Coinbase, the American cryptocurrency exchange, recently announced that it will support Ethereum hard-fork. A few hours ago, the exchange posted an ad on Twitter.

Coinbase wrote on its official Twitter page: "Coinbase intends to support the upcoming Ethereum network update (ETH)".

Scheduled network updating, known as Constantinople, plan to conduct from January 14 on January 18.

In an official blog post, Coinbase explained what to expect during the update. The team noted: "Coinbase Pro, Coinbase Prime and Coinbase.com customers can continue to buy apps for iOS and Android."

Coinbase added: "After the start of the update, for security and technical purposes, we will temporarily suspend the sending and receiving of ETH on all our tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
platforms until the update is complete and receive confirmation of the network security. The update will not interfere with buying, selling or trading ETH at Coinbase Pro, Coinbase.com or in mobile apps."

Also, Kraken, Binance, Huobi and OKEx have joined the support of the hard-fork.

 

Kraken stock-exchange about hard-fork

Kraken says it will also support the update. Kraken support wrote: "We expect this to be a non-controversial forkFork
– is the intentional use of one code base of a software project to start another. That is, changing the blockchain code to split it into two.Details
. New coins will not be credited to ETH owners, as we expect the old network to quickly become obsolete."

 

Community reaction to hard-fork

The community responds with caution about the hard-fork, some even fear that this may lead to the splitting of the coin. However, Ethereum co-founder Vitalik Buterin recently debunked these rumors and said that only a replacement chain with a modernized one would happen.

Concern about the split arose after the dramatic Bitcoin Cash fiasco that occurred last year. According to Vitalik, the Ethereum community should adopt the terminology of zCash "network upgrade" instead of "fork". In the past, zCash used the term "network update" to similarly change their blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
.

Editor: Pereyidenko Ihor

See also: "The Bitex Global project launches its own XBX cryptocurrency on global exchanges"

#Coinbase #hardfork #Ethereum #ETH

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