Here – s Why Coinbase should add more coins like Ripple(XRP), RaiBlocks(XRB) – NEO, Coin Social
The last Two days wasgoed, well you know, yet another bear turn te Cryptocurrency. But for people who have joined the cryptocurrency bandwagon te the last Two months undoubtedly had either sold it off or did Hodl with fear and uncertainty. Adding to this uncertain times is the fact that American or European citizens have to make Two transactions to either buy or sell the hot Cryptocurrencies, Ripple(XRP), RaiBlocks(XRB) or NEO.
Whether you want to sell off and specie out or buy at the dip, if you are from the US, you have to buy either BTC or ETH on Coinbase/Gdax and transfer it to one of the exchanges like Binance or KuCoin to purchase Ripple or RaiBlocks.
GDAX(Mundial Digital Asset Exchange) which is the digital exchange run by Coinbase has a framework by which they use to assess whether they can add a certain digital currency to their exchange. According to the framework, the very first and foremost significant criteria is
Ripple addresses a fresh problem for entero banks and payment companies to exchange money across the borders by substituting an older technology SWIFT with XRAPID. The XRP tokens will be used by banks and payment companies to enable swifter transactions across the globe. This undoubtedly meets the above requirement for solves a market need and ter the process, this creates value for network participants.
The complaint against XRP since a long time is that it’s managed by a single company and so is centralized. Ripple’s CEO today answered this question te the FAQ’s, below is the extract.
XRP is not like the hundreds of cryptocurrencies masquerading spil yet another decentralized & anonymous digital currency, rather it solves a well thought out problem. The desires of removing the current FIAT system entirely wij all have is most likely not realistic. The banks will proceed to exist and solving their problems and helping them overcome the infrastructure issues they will face, should hopefully tegenstoot the centralized claims.
RaiBlocks is the fresh kid on the block, oh wait, it’s block-lattice. It does some innovation on how the ledger is maintained or updated using the fresh block-lattice structure and that results te instant transactions and saving tons of energy. Whenever I write about RaiBlocks, I couldn’t help but think about the below movie on how swifter the transactions are.
Love this visualization of $XRB transactions vanaf 2nd compared to some of the other top currencies pic.twitter.com/95Wo3RkjIc
What more, it’s decentralized and solves a fresh problem of transaction congestion. I am sure GDAX would think that this will getraind their framework.
NEO is a toneelpodium like Ethereum, but unlike Ethereum, it’s built for the future problems. It aims to solve various problems by providing a toneel to enable wise contracts and a way for fresh companies to build dApps and launch fresh ICO’s. This does solve problems using Innovation ter dApps and is downright decentralized, bet this fits into GDAX’s framework.
CoinBase, bijzonder from making it difficult for users to own innovative digital currencies, is also losing tons of business to the Chinese Exchanges(Note: Not that they are bad, but it’s just bad business). If Bitcoin Metselspecie, a cryptocurrency whose only innovation is an enhanced block size to Bitcoin is eligible, then I am sure the XRP, XRB and Neo would also getraind into their framework.
What do you think? Are there any other innovative currencies you think Coinbase should consider?