Coinbase, one of the world’s largest cryptocurrency trading platforms, is quietly preparing for a massive surge in trading volume.
In response to New York Attorney General Eric Schneiderman’s ongoing investigation into exchanges, Coinbase has announced that some of the key companies disclosed its data. According to the data, Coinbase said it has doubled the size of its full-time engineering staff and overhauled most of the platform’s code. allowed us to record an increase. We look forward to doubling that capacity again in the coming months while maintaining the highest security standards our customers have come to expect.”
The company’s COO, Asiff Hirji, said these efforts are necessary as there is a strong demand for cryptocurrencies and their underlying technology, Blockchain.
Hirji told CNBC “More and more people are starting to realize that this is fundamental and you are the best for building applications that work in crypto.. If you believe that, it’s not surprising to see increasing volumes and registrations.”
Hirji also said that Coinbase is also preparing for more institutional money to enter the market, citing the New York Times report on Thursday that Goldman Sachs is looking to launch a Bitcoin trading desk.
In the document, Coinbase announced that it has sold $150 billion in assets on the platform and received $225 million in funding.. The company has a thousand people working for Coinbase.
The company has quickly adjusted itself to keep up with demand as crypto trading skyrocketed over the past year.. Bitcoin, the largest cryptocurrency, has surged 1300 percent last year, reaching $20,000 in December.
As the company grew, some customers turned to sites like Redddit to complain about site outages and customer support.
As the company grew.
Coinbase has increased the transaction time, known as uptime, where the platform is fully functional.
Coinbase has announced that the platform has provided its users with 99.97 percent uptime since January 1. And he said he was proud to achieve 99.99 percent uptime in April.