Coinbase Increases ETC Deposit Confirmation Time To 2 Weeks

by in Cryptocurrency News


The Ethereum Classic (ETC) network had two 51% attacks in a week. In this regard, the Coinbase cryptocurrency exchange has increased the confirmation time for ETC deposits to two weeks.

Currently, 80,640 confirmations are required to deposit ETC on Coinbase.

Most of the coins supported by Coinbase require much less online confirmation. The only exception is the Bitcoin SV. Users who send this altcoin to the exchange must wait for 1008 admissions (a significant difference compared to 3 confirmations on the bitcoin network).

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ETC is held in one of its trusts by Grayscale, one of the most comprehensive investment companies in the cryptocurrency market. Grayscale is owned by the venture capital firm Digital Currency Group. Interestingly, its founder, Barry Silbert, previously actively supported ETC. In 2018, Silbert said the Digital Currency Group holds 25% of its crypto assets in ETC, not Ethereum (ETH). Then he said that the value of most cryptocurrencies is going to fall to zero, except for the five coins in which he invested - BTC (50%), ETC (25%), Zcash (15%), Decentraland (5%) and Zencash (5%).