Hacker News Reader

Comment by jessepollak | Hacker News Reader

Hi all — head of engineering for the consumer product at Coinbase here (iOS, Android, coinbase.com).

Happy to answer any questions that people have — also, just wanted to make a plug that we're hiring. If you're interested in building an open financial system for the world, shoot me a note at jpollak@coinbase.com. Especially interested in iOS & Android engineers!

View on HN

What will Coinbase do if there is a contentious hard-fork of the Ethereum chain and different USDC supporting exchanges decide to follow different forks?

In this case, the issuer of USDC, Circle, would be the one to decide which fork of Ethereum to support. It's not like USDC the ERC20 token is worth anything without Circle's backing.

This is a hard question. I don't have an answer for you, but if a situation like this arises, we'll be sure to clearly communicate our thought and decision process to our customers. Thanks for asking!

If you actually cared about an Open Financial System you would list Dai on Coinbase. Centralized stablecoins allowing issuers to freeze and blacklist is a step backwards not forwards.

What are your thoughts on MakerDao which uses the MKR and Dai tokens for decentralized collateral backed stablecoins called Dai?

Their implementation is happening a bit slower due to the novelties but it offers the MKR which is a profit incentive for proliferation, and may be more resilient than centralized stablecoins

Personal opinion, not the company: I think it's very cool. I've been watching them since they launched and have been impressed with their consistent progress. I love using it as an example of financial experimentation and success: they launched at the top of the bubble and have been able to keep stability even as crypto has gone through a massive crash! Pretty amazing.

Have you published the USDC contract to the network?

I believe this is it: https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb....

Yes, you can see the contract here: https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb.... Thanks!

Anders Brownworth from Circle here - I just wanted to point out that https://etherscan.io/address/0xa0b86991c6218b36c1d19d4a2e9eb... is the proxy contract. (an address that won't change but who's source code doesn't contain the "meat" of the logic) That contract simply proxies calls to the current main FiatToken contract deployed at https://etherscan.io/address/0x0882477e7895bdc5cea7cb1552ed9... but if you want to see the official repository for the project, it is available from CENTRE on GitHub at https://github.com/centrehq/centre-tokens

Hey there Jesse. Question for you: Will Coinbase Commerce also be integrating support for USDC? Thanks!

I can't comment for them on this one, sorry!

Reply on news.ycombinator.com