Coinbase is converting the selection of affirmation necessities we require for 4 property at the platform. We think this transformation to each make stronger buyer enjoy and safety posture.
We modified the affirmation necessities for Bitcoin, Litecoin, Zcash, and Ethereum Vintage. The desk beneath presentations the adjustments:
The affirmation necessities for a number of of those currencies have been decided over a yr in the past. At the moment, we didn’t have a constant means that knowledgeable each and every forex’s requirement. This ended in a state of affairs the place some property could have had a very conservative affirmation requirement, and a few property the place the affirmation requirement could have been too low.
In terms of Bitcoin, Zcash, and Ethereum Vintage, we decided that it used to be secure to scale back the affirmation requirement. This permits buyer deposits to be showed on Coinbase quicker than prior to.
In terms of Litecoin, we made up our minds to boost the affirmation requirement. This reduces the chance 51% assault on Litecoin will have an effect on Coinbase consumers.
Coinbase is repeatedly running to verify a excellent buyer enjoy whilst keeping up extraordinarily top safety requirements. As such, we’re at all times on the lookout for techniques to make changes to our products and services in pursuit of either one of the ones objectives.
We now have printed a separate weblog put up on our engineering weblog that dives into larger element about how we view the protection of evidence of labor.