Popular cryptocurrency exchange of Coinbase announced that it is currently looking into listing the following 5 digital assets on its platform: Cardano (ADA), Stellar (XLM), Ox (ZRX), Basic Attention Token (BAT) and ZCash (ZEC). The announcement was made via Twitter, as well as on the Coinbase blog, and it stated that:
“We are making this announcement [of the 5 cryptocurrencies] internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.”
The team at Coinbase also expressed their concerns about listing the new assets:
“We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets.”
So how will the listing of Stellar pave the way for XRP onto Coinbase?
Looking at the second statement by the team at Coinbase, their willingness to list digital assets outside their comfort zones of Bitcoin and Ethereum based protocols means that they probably have a new team of developers at the exchange. These developers are probably hard at work trying to integrate the blockchain platforms of these 5 digital assets to those of the Coinbase exchange. This could, in turn, mean that listing XRP in the future on Coinbase will be as easy as using a warm knife on butter; since they will have the experience of adding new assets on the platform.
The second reason why the listing of XLM will pave the way for XRP being listed on Coinbase is the background both coins have with having one Co-Founder, Jed McCaleb. Knowing how the professional networks work in technology, someone somewhere will pitch the idea of listing XRP once XLM is added on Coinbase. Another question to ask is if the code behind the two digital assets is similar given McCaleb co-created both. If this is the case, adding XRP on Coinbase will be as easy as charging a mobile phone: plug and play.
A third reason is that the guys at Ripple will probably note that XLM is being listed on Coinbase for the Stellar platform is more decentralized than that of XRP. The team at Ripple will, therefore, accelerate decentralization on the ledger by adding additional validators on the network. We all know the effect of competition and seeing what your neighbor has achieved. In the case of Ripple, they will feel motivated to get XRP listed once XLM succeeds in doing so at Coinbase.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
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