Coinbase is a leading American company operating a crypto exchange platform. Founded back in 2012, the company is the largest crypto exchange in the United States in terms of trading volume. The CEO of the Nasdaq listed company, Brian Armstrong, posted a special blog on Tuesday, discussing the future plans of the company.
Namely, Brian Amstrong talked about the new idea of Coinbase to introduce a special App Store, inspired by Apple Inc, which will be directed at ensuring more innovations in the market and giving developers the idea to share their creations a lot easier.
The CEO of the company talked about the reasons for creating the App Store, saying that much like Apple, Coinbase will not be creating the store only for Coinbase users. Rather, the main idea behind it will be to empower developers as well as traders for future innovations in the market.
The CEO of the company talked about many future plans in the special blog posts, one of the biggest ones is building the crypto app store. Amstrong expressed his love and admiration towards new technologies and the trend of developers rushing into new spaces to use new tools to develop something new and innovative that could not even have been imagined before.
Store for everything crypto
While talking about the new idea, Coinbase CEO said that the company needs to do the same thing that Apple has done with the App Store, but for crypto. He noted that as of now, there is billions of dollars of economic activity running on decentralized apps, in addition to a new trend coming out very frequently.
He also said that the upcoming Coinbase app store will be able to provide access to users on any app that is created on decentralized crypto rails. In addition, Amstrong also promised users the self-custody of their own cryptos, thanks to the Coinbase app.
Decentralized apps, simply called dApps are heavily argued to be the future of the blockchain. There are numerous different types of digital applications right now that run on blockchain networks. The best thing about these apps is that they are decentralized, meaning that they can’t be controlled by one single entity.
What are dApps?
Decentralized Applications, simply called dApps, are very popular forms of applications and programs that run on a blockchain or other P2P network of computers instead of one, single computer, or source. The best thing about such applications is that they are outside of the purview or control from a single authority, which can be quite attractive for many consumers.
A standard application uses a computer system to run. These systems are mostly owned by organizations, which gives these organizations full authority as well as control over the app and the activities happening in the app.
On the other hand, dApps run on a blockchain network, which makes it a very secure place. In addition, the privacy of dApps is a lot higher when compared to regular apps. When discussing cryptocurrencies, dApps run on a blockchain network in a public, open-source.
This decentralized environment is free from control and interference by any single authority. Because of all these, many believe that the future lies in dApps, making it a great option for companies to focus on.
Coinbase & its role in the crypto market
Coinbase is the largest American crypto exchange and is no stranger to technological advancements and innovations. Due to the standard of offered services, it is among the most used exchanges in the country, seeing the highest trading volume in the USA. The blog published by the company CEO is another sign of the company’s interest in innovative ideas.
Thanks to exchanges like Coinbase, crypto trading has become more accessible for individual investors than ever before. As of now, all traders need to have is a functioning device and an internet connection. Thanks to Coinbase, you can buy, sell, and store cryptocurrencies in one place, making trading a very easy venture.
A further popularizing factor of the crypto trading market is trading automation, which gives every crypto enthusiast the opportunity to be part of this market. Even those who have no time for trading or research can invest in crypto thanks to the crypto trading with robots. One of the most popular software companies specialized in automated crypto trading is Bitsgap. The crypto trading bot developed by Bitsgap can be used with numerous different crypto exchanges, including Coinbase, and is able to analyze the market, as well as to open buy and sell orders in the platform, taking away all the time-consuming activities of crypto investments.
Because the market is so easy to access, there are more and more people who are deciding to invest in crypto. Coinbase is just one exchange among hundreds of others that are creating the market more accessible to everyone.
What does it mean for Coinbase?
As Amstrong, CEO of Coinbase said, the inspiration for Coinbase App Store was drawn from Apple and the way its App Store opened up opportunities for every participant of the market, not just iPhone users.
Thanks to the steps taken by the company, Coinbase is among the leading exchanges in the market, working on empowering innovations in the crypto trading market. The company has made as much as $100 billion initial public offerings on the US stock exchange back in April this year, making it a publicly listed company. Because it is publicly listed, it is subject to certain regulations, which makes it more trustworthy for the larger public.
If successful, the idea will further popularize Coinbase and its services.