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Coinbase Is Not Able to Manage Transaction Volume | The Coin Shark

Coinbase Is Not Able to Manage Transaction Volume

Jameson Lopp, leading engineer and software architect at BitGo, expressed his negative opinion about the largest virtual currency platform Coinbase.

The expert criticized the fact that the platform does not use Segregated Witness (SegWit) and batch processing of cryptocurrency transactions.

Lopp listed some large cryptocurrency exchanges that use batch processing IIRC and SegWit to lower the commission fees and network loading. He mentioned Bitstamp, HitBTC, Kraken, LocalBitcoins and QuadrigaCX, that use both SegWit and IIRC.

Other famous digital currency experts also criticize large companies, such as Coinbase and Blockchain, because they do not implement SegWit and batch processing of transactions to decrease commission fees for their clients and improve the overall transaction capacity of the bitcoin network.

According to them, big platforms like Coinbase process more transactions than 70% of companies working in this branche. So Coinbase has a really significant influence on bitcoin operations.

Coinbase president Brian Armstrong replied that that the company will add SegWith, batch processing of transactions and other innovative solutions to improve the situation with  the low speed processing of bitcoin transactions. In his Twitter he says:

Anyway the time will show whether the implementation of SegWit and batch processing of transactions really improves bitcoin scaling and lowers the network loading.


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