If we want to list a list to see who is the "culprit" to delay the spread of bitcoin, Coinbase's ranking will be quite high. However, the company's CEO Brian Armstrong finally confirmed on Twitter yesterday that the batch transactions will start in a few months.
Sergej Kotliar, CEO of Bitrefill, accused Armstrong of mismanagement of the trading infrastructure on May 31. After 7 years of operation, Coinbase still consumes a lot of memory pool space, causing congestion in the Bitcoin network.
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Coinbase started processing volume transactions as early as January 2018, but almost a year and a half passed, and the seven-year-old exchange failed to do so.
Yesterday, Armstrong finally replied to Kotliar's tweet confirming that "bulk transactions will be launched within a few months." He also said that it took so long to make people "squat":
“It turns out that there is a lot to do in a growing company.”
With the development of the company, Armstrong encountered a lot of embarrassing situations. From the resignation of key members of the team to the mistake of hiring Neutrino. The company's employees are associated with a controversial team of hackers who are used by authoritarian governments to monitor citizens and engage in malicious activities.
This error also led to the #deletecoinbase (deletion of Coinbase) movement, as the community had a strong negative sentiment towards this decision.
Coinbase not only occupies a large amount of memory pool space because there is no batch processing transaction, but also is attacked because of the high cost. The same is true for Bitpay, the cryptocurrency payment processor in the United States.
In the future, I hope that more cryptocurrency companies, especially those with large users, should take the necessary measures to help achieve the popularity of cryptocurrency.