Coinbase Considering Adding XRP, EOS, XLM, ADA, NEO, and 26 Other Digital Assets

On Friday (7 December 2018), cryptocurrency exchange Coinbase announced that it is considering adding support for up to 31 additional digital assets.

If you own XRP, NEO, ADA, XLM, EOS, and/or any of the 26 other cryptocurrencies shown in the diagram below, you have cause to feel a bit more cheerful during this holiday season because Coinbase is considering listing these in the future:

Coinbase candidates.png

The last time that Coinbase announced that it was exploring adding support for several new assets was 15 July 2018, when it said that it was looking at Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x. (And before that, on 26 March 2018, Coinbase announced its "intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months.") 

In the blog post published earlier today, Coinbase says that from the five assets it mentioned on 15 July 2018, it has already added support forthree of these—BAT, ZEC, and ZRX—and that is continuing to "evaluate the others, along with a number of ERC-20 tokens."

Coinbase wants people to note the following:

  • "Adding new assets requires significant exploratory work from both a technical and compliance standpoint, and we cannot guarantee that all the assets we are evaluating will ultimately be listed for trading."
  • "... our listing process may result in some of these assets being listed solely for customers to buy and sell, without the ability to send or receive using a local wallet."
  • "... we will add new assets on a jurisdiction-by-jurisdiction basis, which allows us to add assets efficiently and responsibly."
  • "As part of the exploratory process, customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets. We cannot commit to when or whether these assets will become available..."

One more thing worth noting is that just because a certain digital asset may be considered a security in one jurisdiction, say the United States, it does not mean that Coinbase cannot offer the same digital asset in other jurisdictions where there are no regulatory issues with offering that asset for trading on an exchange.

All Images Courtesy of Coinbase

GAS Rises 36% in a Day as Details on NEO 3.0 Emerge

The price of GAS, a cryptocurrency used within the NEO ecosystem, has recently seen its price jump by over 10% in less than a day as details on NEO 3.0 have started to emerge during the NEO DevCon 2019 in Seattle.

According to CryptoCompare data, GAS is currently trading above the $3 mark after seeing its price rise by nearly 36% in little time. Its market cap is now above $30 million, as the rise helped it become one of the top 100 cryptos.

NEOGAS' price performance in the last 24-hour period

What exactly is behind the rise is unclear, although some have suggested investors are gaining confidence on NEO 3.0 and have started acquiring GAS as a result. Others have claimed a whale may be accumulating the cryptocurrency.

The NEO blockchain notably has two cryptocurrencies: NEO and GAS. While NEO is seen as a representation of shares on the blockchain that can be used for electoral accounting and to obtain GAS dividends, the latter is the cryptocurrency used to pay for fees and services. NEO holders are rewarded with GAS dividends.

Details about NEO 3.0 that have emerged essentially revolved around the cryptocurrency’s scalability, security, efficiency, and a potentially increased number of transactions per second it’ll be able to handle.

Speaking in Seattle through a video presentation, NEO co-founder Erik Zhang revealed NEO 3.0’s goal is to support commercial applications on the blockchain, and although a date on its launch is to be determined, we know it’ll address the platform’s stability and scalability.

For one, NEO 3.0 will reportedly have native contracts, allowing for a higher number of transactions per second on the blockchain, and will allow users to access internet resources in smart contracts through URLs.

Its delegated Byzantine Fault Tolerant (dBFT) consensus protocol, which Zhang has in the past touted will become the “best consensus mechanism for blockchains,” will also get rid of some flaws that stop node synchronization from being more efficient.

It has also recently been revealed NEO Global Development (NGD) is opening an office in Seattle, headed by a former  Microsoft executive. NEO’s first decentralized exchange, Switcheo, has also added support for various Ethereum-based ERC-20 tokens late last year.