Coinbase Scores Big With Recent Patent And Eth Classic Inclusion

Coinbase includes Ethereum Classic in its Coinbase Consumer, and scores a patent with the USPTO.

USPTO

Crypto juggernaut Coinbase announced today, August 17, that its Coinbase Consumer will now be supporting Ethereum Classic (ETC) on Coinbase.com and its mobile app.

Lots (And Lots) Of Requests

coinbase-logo-1With the recent update, the said platform will now be offering the aforementioned crypto to all users around the globe along with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

Dan Romero, Vice President and General Manager of Coinbase Consumer, said that prior to the announcement, they have been receiving a lot of requests to allow the trading of more assets on the said platform.

Romero continued:

“Ethereum Classic is just a first step in that direction. We announced last month that we are exploring a number of other assets to add to the platform. We hear your requests, and are working hard to make more assets available to more customers around the world.”

The said cryptocurrency also jumped 15 percent up yesterday on the crypto firm’s exchange yesterday, August 16.

Streamlining Bitcoin Storage And Transactions

Meanwhile, the US Patent and Trademark Office (USPTO) recently awarded a patent to crypto giant Coinbase for its system which could streamline Bitcoin storage and transactions, according to its public document published on August 14.

The patent application, which was filed on December 11, 2017, was invented by Andrew Alness and James Bradley Hudon of the said firm, and which could provide an avenue for users to pay with Bitcoin straight from their crypto wallets.

The invention was a much-needed solution, as the document acknowledged that present systems do not offer a solution for “maintaining security over private keys while still allowing the users to checkout on the merchant page and making payments using their wallets.”

The document expounded, saying that the invention provides a host computer system which has a “key ceremony application” that makes key shares and are combined into an operational master key, which can be used for a specific transaction and instantly destroyed after use.

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