Coinbase Is Using Ethereum’s (ETH) Latest Upgrade To Help Merchants To Adopt USD Coin (USDC)
The platform, which helps investors who want to receive crypto payments, has recently added USDC, which is based on the Ethereum technology. Bojan Joveski, a software engineer of the company, has recently affirmed that it was a new ETH feature that made this possible.
According to him, the new CREATE2 feature was added during the Constantinople update and made it possible to use smart contracts in other situations and to save costs, which helped in order to make USDC usable on the platform. CREATE2 can diminish gas costs for using USDC, which enables the company to let clients use the token without having to pay any extra fees.
CREATE2 was proposed by the founder of the ETH network, Vitalik Buterin. It was initially named Ethereum Improvement Proposal 1014 and it was focused on the development of new smart contracts, especially smart contracts that will be deployed in the future and need a lot of variables in order to work well.
This prompted the company to use USDC on the platform. In case you do not know, USDC, which was developed by Circle, is a sort of official Coinbase stablecoin. Obviously, there are huge advantages to using your own token on your platform, especially because it boosts its adoption.