Friday, February 3, 2023

Coinbase Reportedly Trying to Acquire Cloud Development Play Koding

Coinbase Reportedly Trying to Acquire Cloud Development Play Koding

According to Modern Consensus, top U.S. cryptocurrency exchange Coinbase is reportedly poised to acquire Silicon Valley tech startup Koding, a cloud development play that “allows coders to collaborate remotely in real time.” The move comes as Coinbase has been involved in a flurry of acquisitions since the start of the year. 

Also see: Research Director of Coin Center Think Tank Says Ether ‘Not a Security’

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Next Up, Koding?

According to the report, Coinbase is allegedly in the process of finalizing the deal with the startup, a platform venture allowing users to “Instantly create, share, scale, and manage development environments.”

At this time, Coinbase has yet to comment on such a deal, but if true, it would mark the third tech acquisition that Coinbase has made in recent days following agreements with, a paid email and microtasks platform, and CipherBrowser, an Ethereum-based DApp browser.

If an acquisition does follow through, it will be interesting to see how Coinbase blends the operation into their own growing ecosystem. Per the Koding website, the platform “lets your organization create and share fully automated dev environments on any infrastructure for modern distributed applications, micro-services and containers,” so Coinbase could commercialize the suite while also using it to facilitate the activities of its own newly-launched Coinbase Protocol team, for example.

Speaking of Coinbase Protocol

Whatever Coinbase ends up doing, there’s no question that Koding’s boasted environments would optimize the exchange’s in-house development projects, e.g. Coinbase Protocol.

The exchange’s Engineering Director Varun Srinivasan noted in the team’s announcement post that they wanted to intensify cross-project technical collaborations in the cryptoverse:

“Our mission is to contribute to community-led projects which will move our industry forward. We’ve been looking at projects like payment channels, off-chain computation, trustless light clients and proof-of-stake blockchains. We want to promote collaboration and cross-pollination of ideas by working with different development teams.”

And, as we all know, the crypto space is an incredibly distributed and decentralized field as far as its denizens go, so the mission described above sounds like the mission that Koding was raised to solve, does it not?

Some of what Koding offers.

This one example also shows how the platform could be promsing not just for the cryptocurrency ecosystem but rather for engineering projects in general, especially in an increasingly globalized world.

What’s your take? Do you think Coinbase will be turning this acquisition inwards or outwards? Both, maybe? Let us know what you think in the comments below. 

Images via Koding, TechCrunch 

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