Market Analysis

Coinbase discloses a stunning finances report

Coinbase discloses a stunning finances report
May 9, 2018 by Rico Wise

Coinbase exchange is progressing. It has taken some actions that allowed it to achieve a colossal fast-paced growth, as well as the market cap growth. Here’s what they did.

Recently, Coinbase has released a letter stating that its group of specialists have performed a lot of thorough work to improve efficiency dramatically. These improvements included management of the database, implementing caching in order to decrease the load on the exchange’s databases, API overhaul, and significant code base re-architecture. All of these focused areas and the respective efforts made have proven to be successful in order to bring a 1000 percent growth in the surge of the exchange. The transaction capacity of Coinbase is now relative to the same of Q3 of the previous year. The owners of Coinbase expect to make that capacity to become twice as large in upcoming months, at the same time trying to maintain the highest security standard anticipated by the users.

Also, the exchange admitted its platform downtime issues, stating that it is in their intentions to enable an ongoing support for the customers. Coinbase is proud to boast of the 99.97 percent uptime delivery to the platform customers within the period of this January 1 till present time, and 99.99 percent just in the month of April.

To continue growing, Coinbase has plans to invest heavily in the technical backend and the stability of the system. The people behind the exchange admit that they’re forced to work in a competitive-heavy environment. And to stay competitive, Coinbase has doubled its engineering staff in the previous year, as well as adding senior staff to the infrastructure, site reliability and payments operations teams.

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