Representatives of the Coinbase online cryptocurrency exchange confirmed the information on the purchase of a Blockspring startup to create API money collection and management tools, as reported by the CoinDesk news agency.
Blockspring technology has gained widespread popularity due to its introduction into Google. Th anks to the 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 innovation, the maximum size of documents has been increased to several million lines. Loading tables, "scrolling" and the speed of calculations began to occur much faster. Buying a project by Coinbase suggests that soon work on the exchange will be faster and better.
"Joining Coinbase was easy for a number of reasons, including the commitment of the exchange to create an open financial system, as well as the strength of the team of experienced engineers" – from the Blockspring blog post.
Coinbase representatives confirmed the information about the purchase, but the company declined to comment further.
Recall that Blockspring startup (headquarters in San Francisco) makes it easy to transfer data from various APIs to Excel and Google Sheets. In 2015, the startup was supported by Y Combinator and the financing facility from Andreessen Horowitz (a16z) and SV Angel in the amount of 3.4 million US dollars.
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"Blockspring will continue to operate as an independent company, and our products will continue to work for current and new customers" – from the purchase statement on the Blockspring blog.
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Coinbase Exchange has confirmed information about the purchase of the Blockspring project, but the financial terms of the transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details have not yet been disclosed. As you know, Coinbase attracted a huge amount of investment in the amount of $ 300 million in October 2018. According to Crunchbase, the Blockspring deal is the 11th acquisition of Coinbase.
Editor: Yulia Krasnaya
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