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HomeNewsCoinbase To Adopt A Block List Strategy For Token Listings, Moving Away...

Coinbase To Adopt A Block List Strategy For Token Listings, Moving Away From Individual Evaluations

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  • Coinbase revises token listing strategy due to surging numbers, introducing block list approach with customer and data insights.
  • CEO Brian Armstrong promises enhanced native DEX integration, shifting from allow list to more dynamic customer review-based system.

Coinbase is set to overhaul its token listing process due to the overwhelming number of new tokens emerging each week. CEO Brian Armstrong announced via social media that the traditional method of individually evaluating each new token has become impractical due to the sheer volume, with approximately one million tokens launched weekly.

Streamlining the Listing Approach

In response to this deluge, Armstrong detailed a shift from an “allow list” to a “block list” approach. This new method will leverage customer reviews alongside automated scans of on-chain data to streamline the process. Furthermore, Armstrong has committed to enhancing the integration of native decentralized exchanges (DEX) to improve user experience and accessibility.

Coinbase’s current evaluation framework, managed by its Digital Asset Listing Group (DALG), maintains a rigorous standard to ensure that all listed assets comply with necessary legal and quality benchmarks. Presently, the platform supports 271 assets and offers numerous trading pairs, showcasing its substantial role in the crypto market.

Critique from Financial Analysts

Amidst these developments, financial commentator Peter Schiff, a known skeptic of the cryptocurrency sector, criticized the rapid increase in token numbers. He pointed out that the inflation rate of digital tokens is “off the charts,” suggesting that most tokens mimic Bitcoin in crucial aspects, including the imposition of a hard cap on their supply.

Schiff’s comments highlight the ongoing debate over the sustainability and originality within the burgeoning crypto market.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: [email protected] Phone: +49 160 92211628
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