Why Did Coinbase Add ETC?

Why Did Coinbase Add ETC?

Coinbase, the leading US cryptocurrency exchange, included Ethereum Classic yesterday (June 12), which is far stretch from other more prominent cryptocurrencies like EOS and Ripple.

The company’s sudden decision of adding ETC came as quite the surprise from the crypto community as its the 18th most viable cryptocurrency in the global marketplace. Over a dozen other cryptocurrencies have larger market values and volume according to CoinMarketCap.

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Dan Romero, the vice president of the Coinbase acknowledged the fact that the community was taken back by this decision. He did emphasize that Coinbase is the primary reason behind the integration of ETC which is mainly due to its compliance with local regulations.

Why ETC Integration?

ETC is the result of the hard work by a team of developers that split the Ethereum blockchain network after the community came to a consensus regarding the loss of investors within the Decentralized Autonomous Organization (DAO). This is one of the first major Dapps on the Ethereum blockchain.

ETC is sustained by developers within the open source programming community. Its success does not benefit any particular organization. Cryptocurrency like Ripple or EOS are overseen by independent and private organizations including Ripple Labs and Block.one.

The CEO of Coinbase, Brian Armstrong stated that the inclusion of ETC is only the first of many cryptocurrency integrations for Coinbase. The company plans to support ERC20 standards as well as Bitcoin forks first before moving forward with other cryptocurrencies.

What’s Next for Coinbase

The team recently emphasized that tokens will be next in line for inclusion on the exchange. 0x, in which the cofounder is an advisor to Coinbase, will likely be integrated next. It’s also entirely possible that Coinbase will integrate all ERC 20 tokens listed on Paradex (0x decentralized cryptocurrency exchange).

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