Coinbase has introduced Prime Sweeper. The tool has been defined as a reference application that is being launched to streamline the transfer of digital assets. Needless to say, it exclusively serves the needs of the users of Coinbase Prime. The idea is to minimize manual intervention when facilitating transfers. Thereby lowering the chances of human error and optimizing operational efficiency.
Built-in Go, Prime Sweeper enables the smooth transfer of assets within the Coinbase ecosystem. Users have access to initiate daily withdrawals at a scheduled time. Also, they can process multiple sweeps simultaneously. For instance, BTC and ETH can be moved from cold storage to a trading balance and then back to cold storage without inputting multiple functions or pushing for it two times.
Users can also select the transfer frequency and target wallet address. Prime Sweeper has been designed to formally check the balance and track the progress of any function that may have been quoted. Simply put, Prime Sweeper is a function by Coinbase for the users of Coinbase Prime, allowing them to streamline the transfer of digital assets within the native ecosystem.
It only initiates the function if the wallet balance is non-zero. This means the request is processed after performing the check and is available in the wallet. The reference application is available at Coinbase Samples, and users have to clone the repository with a particular terminal command.
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It is easier to set up a Prime Sweeper. Users must first have an account with Coinbase, which they are required to register with. The account opening process has been detailed in our Coinbase review, which also sheds light on the platform’s features. Once registered, create rules within the config. yaml and pass API credentials as an environment variable.
The steps that follow are self-explanatory; issues, if any, can be discussed with the support team of Coinbase.
Automating asset management not only minimizes human error but also ensures that users have sufficient time to craft strategies around security, speed, and efficiency. Coinbase Prime, with Prime Sweeper, is looking to lead the evolving landscape of digital assets by providing solutions that enhance operational effectiveness and drive success for institutional clients.
Asset management on Coinbase Prime was previously subject to manual processes. That caused more time, especially when requests were constant and recurring. Prime Sweeper eliminates that to recognize the need for a streamlined process.
The development comes days after Coinabse recognized the need for blockchain in the AI industry. Coinbase believes that blockchain technology can lend several technical capabilities to artificial intelligence. Hence, it contributes to its growth across the world. Coinbase is confident about underlying opportunities that can be derived from converging the world of AI and blockchain.
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That said, the flexible reference application, Prime Sweeper, is now available at Coinbase Samples. Users can streamline the approach that they usually take with asset management.
