Coinbase (NASDAQ: COIN) has rung in the New Year with a roundup of its achievements in the last quarter of 2018, celebrating a slew of new cryptocurrencies, platform developments and countries supported. Yet there still remains a glaring omission—still no support for Bitcoin SV.
He wrote, “In Q4, we launched everything from new products to requested features to integrations that scale our ability to serve customers. Together with the assets, rails, and geographies we’re adding, we’re building the infrastructure to continue our role as the bridge from fiat to crypto for people all around the world.”
According to Armstrong, Coinbase’s goal “is to maintain the trusted experience our customers have come to expect while adding the assets our customers have come to demand. This quarter, we added more assets than in our entire prior history as a company, and expanded our services to more people in different countries.”
Except Coinbase is still yet to support Bitcoin SV—despite the progress it has made since the fork on November 15.
According to the firm, development work for Bitcoin SV withdrawals is underway, although it could still be several weeks from coming on-stream. And as for on-boarding full support for Bitcoin SV transactions—they’ve still yet to declare their hand.
If Coinbase is to continue to serve its customers in 2019, this is a situation that needs to be rectified quickly. Bitcoin SV is the only protocol capable of truly handling mass scale payments, as demonstrated by stress tests which comfortably handled 1.6 million transactions in four hours.
The block size at 128 MB is already expected to increase to 512 MB in Q2 2019, ultimately scaling to 2 GB by November, with capability for handling transactions numbering in the billions. Just this week, on the 10th anniversary of the Bitcoin genesis block, a world record 103 MB block was mined on BSV chain—an achievement that confirms Bitcoin SV is on the correct path to becoming the world’s enterprise blockchain.
Adhering to the true principles of bitcoin in the original Satoshi whitepaper, BSV is the only viable option capable of supporting mass adoption. So if Coinbase is looking for a New Year’s resolution, getting to work on the BSV integration sooner rather than later might be a wise choice.
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