Coinbase announced the intention to add ERC20 support to several of its suite of products.
The announcement comes just a month after Coinbase began supporting SegWit transactions, a move that cut transaction fees considerably. In the past, Coinbase’s announcements have had immediate and noticeable impact on cryptocurrency markets. The accessibility that Coinbase provides often ushers in a group of new investors to markets that were previously untapped.However, the bearish run that has dominated crypto-markets since the beginning of the year hardly shrugged at Coinbase’s announcement. Perhaps this will change when a more concrete timeline for the new feature is known.
GDAX, Coinbase’s ‘home’ exchange, will “wait for regulatory clarity” before making final decisions as to which ERC20 tokens it will list. The United States government is in the midst of some discussions on how cryptocurrencies will be regulated and taxed, but some ERC20 token sales (ICOs) have already been halted by the SEC. Therefore, waiting for greater clarity makes sense, although no timeline was given.
What is ERC20?
ERC20 is the standard used by Ethereum tokens and smart contracts. It serves as an interface to which anyone wishing to issue a token or write a smart contract must comply. There are a total of 59,948 Ethereum contracts out there.
These are the screenshots of the notice.
Check the infos at:
https://blog.coinbase.com/adding-erc20-support-to-coinbase-fe9cba6782b