Coinbase States Possible Addition of New Coins to Its Exchange
In a new announcement, Coinbase, the world’s largest cryptocurrency exchange platform, has recently been looking into adding a few more cryptocurrencies to its trading exchange. So far, five new coins have seen interest, including Cardano, Zcash, and BAT.
An official comment on which coins will be added, let alone if any coins will be joining the exchange, has not been made. The company has said that its new plan maximizes the platforms transparency for customers and that the company will be a possible chance of introducing these new coins to their system and are adamant about a new addition.
The company’s focus on these five cryptocurrencies has been explained, given the current debate on whether they should be added or not. The first coin, Cardano, is a possible candidate due to its solid its verification-based nature and its special PoS process, making it a very possible and beneficial addition to the platform.
In terms of Zcash, the company looked into it due to its possible advancements in memory consumption and may possibly cut down on the process by more than 95 percent as part of its connection to transactions and their data protection. As for Stellar, Coinbase was overly excited at the possibility of its addition due to the consensus process and how it varies from a traditional PoW. Zcash operates differently in that every node is required to pinpoint other trusted nodes and consistently update them with valid information on its native network’s status.
BAT, the native token of Brave, a blockchain-powered internet browser, is also among the five candidates due to its advertising efforts. The coin permits its advertisers to pay for consumer attention after viewing any advertisements through the web browser. According to Coinbase, it also possibly provides itself as a new cryptocurrency for interactions by the web browsers users with several other sites.
The last coin, 0x, is also seeing some attention due to dozens of standalone startups have utilized its technology. Decentralized cryptocurrency exchanges worth double-digit millions in dollars. With Coinbase mentioning a possible addition of any of these coins, the platform’s reputation significantly affects their value due to the exchange’s well-established reputation
Cardano has jumped 3.5 percent in trading as is valued at $0.14 as of press time. BAT is also up, trading at $0.39 with Stellar and 0x seeing a huge rise of 8 percent and 14 percent. Zcash is the only coin to see a minor drop of 0.39 percent.