The bitcoin exchanging platform, Coinbase, just announced that it intends to support both bitcoin blockchains. This announcement was made after the popular cryptocurrency announced that the hard fork is scheduled for November.
Coinbase took to their blog to announce this decision. Coinbase’s vice president of operations, Dan Romero, wrote that Coinbase will continue to operate in order to benefit their customers, regardless of hard forks or other possible contingencies. Romero added that Coinbase’s mission is to become, and remain, the world’s most trusted, safe, and user-friendly digital exchanging platform. Coinbase will aim to provide their users with access to both bitcoin blockchains following the split. However, they may restrict access to the currencies until both blockchains are stable and secure. Romero confirmed that Coinbase is currently involved in perfecting their engineering and security requirements for both blockchains.
The post was written less than a day after Bitcoin.org threatened to publicly denounce companies that support the SegWit2x fork. In addition, Bitcoin.org also demanded that companies must only use the term “Bitcoin” and symbol “BTC” to refer to the original blockchain. Companies may also refrain from taking any action, which could potentially deprive users of their bitcoins.
According to the Coinbase announcement, it would appear that they are committed to meeting these demands. Coinbase has assured users that they will have access to both blockchains after the scheduled fork. However, Romero stated that they will not make their detailed plan available for the public just yet.
Despite this announcement, many opponents of the SegWit2x fork remain skeptical. One of the current domain-owners of Bitcoin.org, Cobra-Bitcoin, took to Github to state that Coinbase’s announcement was unhelpful. Cobra-Bitcoin also urged Coinbase to provide clarification as to which blockchain they will continue to call Bitcoin, denoted by the use of the sticker “BTC”. The criticism proved that Coinbase’s announcement was not deemed sufficient by the bitcoin community. This might imply that Coinbase will be among the companies which become publicly denounced by Bitcoin.org.
Another prominent critic of SegWit2x, Blockstream CSO Samson Mow, suggested via Twitter that Coinbase’s vague stance may very well violate the terms stated in the “BitLicense”. BitLicense is the financial services license that all bitcoin firms must obtain before being able to operate within the State of New York.
https://twitter.com/Excellion/status/916491407270879232
Mow specifically referred to Coinbase’s use of language. The BitLicense prohibits licensees from using language that would render a product or service materially different from its status. This criticism has raised safety and operational concerns.
Coinbase took to their blog to announce this decision. Coinbase’s vice president of operations, Dan Romero, wrote that Coinbase will continue to operate in order to benefit their customers, regardless of hard forks or other possible contingencies. Romero added that Coinbase’s mission is to become, and remain, the world’s most trusted, safe, and user-friendly digital exchanging platform. Coinbase will aim to provide their users with access to both bitcoin blockchains following the split. However, they may restrict access to the currencies until both blockchains are stable and secure. Romero confirmed that Coinbase is currently involved in perfecting their engineering and security requirements for both blockchains.
The post was written less than a day after Bitcoin.org threatened to publicly denounce companies that support the SegWit2x fork. In addition, Bitcoin.org also demanded that companies must only use the term “Bitcoin” and symbol “BTC” to refer to the original blockchain. Companies may also refrain from taking any action, which could potentially deprive users of their bitcoins.
According to the Coinbase announcement, it would appear that they are committed to meeting these demands. Coinbase has assured users that they will have access to both blockchains after the scheduled fork. However, Romero stated that they will not make their detailed plan available for the public just yet.
Despite this announcement, many opponents of the SegWit2x fork remain skeptical. One of the current domain-owners of Bitcoin.org, Cobra-Bitcoin, took to Github to state that Coinbase’s announcement was unhelpful. Cobra-Bitcoin also urged Coinbase to provide clarification as to which blockchain they will continue to call Bitcoin, denoted by the use of the sticker “BTC”. The criticism proved that Coinbase’s announcement was not deemed sufficient by the bitcoin community. This might imply that Coinbase will be among the companies which become publicly denounced by Bitcoin.org.
Another prominent critic of SegWit2x, Blockstream CSO Samson Mow, suggested via Twitter that Coinbase’s vague stance may very well violate the terms stated in the “BitLicense”. BitLicense is the financial services license that all bitcoin firms must obtain before being able to operate within the State of New York.
https://twitter.com/Excellion/status/916491407270879232
Mow specifically referred to Coinbase’s use of language. The BitLicense prohibits licensees from using language that would render a product or service materially different from its status. This criticism has raised safety and operational concerns.