It’s been a little over a year since Coinbase first announced its intention to add support for Ethereum’s decentralized application platform, and now the exchange has finally made good on its promise. On Tuesday, Coinbase announced that it is now offering support for Ethereum’s decentralized application platform, making it the first major exchange to do so.
The move comes as Ethereum’s popularity has exploded in recent months, with the platform’s native currency, ether, becoming the second-largest cryptocurrency by market capitalization. Ethereum’s rise has been fueled by the growing popularity of decentralized applications, or dapps, which are built on top of the Ethereum blockchain and allow users to do things like gamble, lending, and exchange cryptocurrencies.
Coinbase’s support for Ethereum’s dapp platform is significant because it provides a legitimization of sorts for the still-nascent technology. While there are already a number of popular dapps available on Ethereum, most notably CryptoKitties, the addition of Coinbase could help spur even more adoption.
That’s because Coinbase is one of the most popular cryptocurrency exchanges available, with more than 13 million users.
In a blog post announcing the news, Coinbase said that it is “exploring” a number of different dapps and will be “selectively adding them over time.” The exchange also noted that it is working on making it easier for users to find and use dapps.
For now, though, only a limited number of dapps are available on Coinbase, and they can only be accessed through the company’s desktop app.
It remains to be seen whether other major exchanges will follow Coinbase’s lead and add support for Ethereum’s dapp platform. But if they do, it could help accelerate the mainstream adoption of blockchain technology.
No, as of now DPR is not on Coinbase.