Home / Crypto News / 2 reasons why Cardano (ADA) might be listed as Stellar Lumens (XLM) on Crypto-Coinbas

2 reasons why Cardano (ADA) might be listed as Stellar Lumens (XLM) on Crypto-Coinbas

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In June, the crypto-exchange Coinbase announced it would write down five new cryptocurrencies. Coinbase now offers three of them for trading: 0x (ZRX), Basic Attention Token (BAT) and now also on Coinbase Pro, Zcash (ZEC).

Thus, of the announced five crypto currencies, only Stellar Lumens (XLM) and Cardano (ADA) remain. A new listing usually results in a rise in price, which raises the question of which of the two is likely to be accepted by Coinbase next. This may be Cardano (ADA), for two reasons.

Stellar Lumens is too similar to Ripple XRP

One reason Stellar Lumens is not being picked up before Cardano might be Stellar Lumens' resemblance to Ripple XRP. The internal protocols of Ripple XRP and Stellar Lumens are both consensus protocols that are different from other cryptocurrencies. One can roughly assume that Coinbase Ripple XRP has not been listed because of the integration of its ledger. The same would apply to Stellar Lumens.

Another similarity between Ripple XRP and Stellar Lumens is that their respective management organizations hold a large proportion of the coins. This strong ownership position could also play a role in delaying the recording. The “hash war” in connection with the hard fork of Bitcoin Cash is likely to be fresh in the memory of many market players in the crypto sector. Many traders and holders shy away from the volatility caused by one or more parties controlling the mining network or coins. In the case of Stellar and Ripple XRP, there is a general possibility that organizations will sell large amounts of their coins and thus have a strong negative impact on the price. The likelihood of this may be low, but presumably this is still a concern of institutional investors. However, Coinbase wants to win just that.

Cardano is planning a transparent and decentralized platform

Cardano offers its “ADA Distribution Audit Report” online. In it, the team reveals how between September 2015 and January 2017, the pre-sales of the Cardano cryptocurrency ADA were made. That's the kind of transparency professional investors want.

At the same time, Cardano is working on the Shelley project, which is expected to be completed in 2019. The project aims to ensure adequate distribution across the network and to ensure through incentives that the network remains as decentralized as possible.

Conclusion

Coinbase recently quoted Zcash and raised the question in crypto which cryptocurrency will be included next. Will it be Stellar Lumens (XLM) or Cardano (ADA)? It turns out that Cardano is probably ahead in terms of Coinbase's key assessment factors. It involves decentralization, transparency, integration into the Coinbase platform and the circulating amount of a cryptocurrency relative to the total.

Sources: The Coinbase Blog 1, The Coinbase Blog 2, Cardano Roadmap, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/2-gruende-warum-cardano-ada-eher-als-stellar-lumens-xlm-on-cryptoboerse-coinbase-notated-aus-koennte/

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