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Coinbase: merchants can accept payments with USDC

The US Exchange Coinbase uses the Ethereum Update "Constantinople", for the needs of their customer transactions in crypto-currencies provide. Of thousands of

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Coinbase: merchants can accept payments with USDC

The US Exchange Coinbase uses the Ethereum Update "Constantinople", for the needs of their customer transactions in crypto-currencies provide. Of thousands of traders around the world can take thanks to the USD Stable Coin (USDC) without the risk of volatility in payments.

From Stefan Schäfges
16. August 2019BTC$9.697,19 -8.62%part Facebook Twitter LinkedIn xing mail

Coinbase Commerce has existed since the beginning of 2018. Online retailers, use the platform to accept payments in crypto-currencies. In addition, the App can integrate these transactions into existing business processes. In a press release from may, it is said that 2,000 merchants use Coinbase Commerce and a transaction was carried out in a volume of about 50 million US dollars. Also, the E-Commerce giant Shopify was one of the mentioned Dealers.

Shopify is listed on the stock exchange, and offers E-Commerce solutions to Create Online stores and payment functions.

Recently, Coinbase has integrated the application CREATE2, the Ethereum platform.

Ethereum Update and USDC Stable Coin against the volatility of Cryptocurrencies

Bojan Joveski, a Coinbase-software developer, writes in a blog post from 14. August about the new feature.

Since February, 2018 Coinbase Commerce offers its merchant customers the ability to accept crypto-currencies. So far it was only possible to use Bitcoin, Ether, Litecoin and Bitcoin Cash. Many traders are concerned currencies, however, about the volatility of Crypto. The new function CREATE2 can solve this Problem. In addition, Joveski says:

We published a few months ago the USDC for Support, the offers our traders a volatility-free way of accepting crypto-currencies. The US Dollar supports the USDC for Stablecoin one-to-one. This gives the USDC for a stable price, and makes this a good Option for trading.

Furthermore, CREATE2 enables a new Workflow with enormous cost savings.

Without CREATE2 we look at the Blockchain to show you the address to which you would have to apply and pay. With CREATE2 I can't show you an address that does not exist in the Blockchain, but you can pay for.

This Coinbase saves the cost of gas and prevents the introduction of fake payments. CREATE2 allows developers to simulate an interaction with the Blockchain. However, this happens without the Smart Contracts directly to use.

Chain Security-CTO: A "deterministic approach"

Hubert Ritz village, CTO of Chain Security, referred to there as "deterministic" and said in an Interview in February:

When a new Smart Contract is provided on the Ethereum platform, calculated the network address to which the contract is distributed. CREATE2 makes it easier, and says: "We will be distributing in the future, a contract to this address."

BTC-ECHO had already reported in January about the upcoming Ethereum Update Constantinople. With Constantinople, among other things, CREATE2 has been activated. The Ethereum co-founder Vitalik Buterin developed CREATE 2 (or EIP 1014) itself. The goal was to make Off-Chain transactions to increase efficiency, possible.

CREATE 2 allows for the use of the USDC. The USDC is a Stable Coin that is implemented as a ERC20-Token on the Ethereum Blockchain. A Stable Coin price is stable, since the crypto-Asset one-to-one mapping to the traditional Asset (US dollars, euros, Yen, etc.). BTC-ECHO provides, under the heading Tutorials, for more information on the topic of Stable Coin.

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