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Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments

Priya

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Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments
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Coinbase, one of the largest cryptocurrency exchange platforms in the U.S. in terms of users, announced that USD Coin could be used a mode of payment by businesses using Coinbase Commerce. The announcement was made on 20 May 2019 through their official Medium blog and stated that, “accepting” the stablecoin “gives our merchants many benefits of accepting cryptocurrency, but at a stable price.” Some of the plus points include no transaction fees, complete control of funds, and no chargebacks.

The platform announced on Twitter,

“Starting today, businesses using Coinbase Commerce can now accept payments in USD Coin (USDC), a US dollar-backed stablecoin. Our merchants can now take advantage of the many benefits of accepting cryptocurrency but at a stable price.”

Further, the blog post stated that acceptance of the stablecoin would be as seamless as acceptance of cash for businesses. Additionally, this payment mode would not encounter the problems faced by credit card payments, considering it enables merchants to accept payments from customers anywhere in the world within minutes and without transaction fees.

Eliyahu Switzer, a Twitter user, said,

“What are the benefits of accepting a centralized “cryptocurrency?”

That apart, CEO of Coinbase Custody, Sam McIngvale, revealed that Coinbase Custody was baking with delegated client funds since cycle 105. He stated that the firm had produced “over 100 blocks and captured a few steals too” so far, adding that their efficiency was more than a hundred percent.

@Stevenut, another Twitter user, commented,

“Congratulations on making money with #tezos @CoinbaseCustody perhaps you might like to give something back and list #tezos so rest of us can benefit”

The announcement of Coinbase Custody providing institutional support for Tezos [XTZ] baking was made in March 2019. Offline staking support was extended to Tezos by the platform mainly because of its Delegated Proof-of-Stake architecture, along with high demand from the customers’ side.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

XRP

XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind

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XRP TipBot goes online after a tiny downtime
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XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”

A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.

Wind tweeted,

XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.

After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.

The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.

This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.

XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.

SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.

Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.





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