Cardano (ADA): The big announcement we all await from Coinbase cryptocurrency exchange will come sooner rather than later. The official statement from the company stated that no imminent plans were underway to list any coin at the moment. However, this is set to change in the near future as the exchange targets different markets around the world. The main question remains, which coin(s) or token(s) will be the next to be listed on the 10 million+ subscribed exchange?
“We’re excited to announce our intention to support the Ethereum ERC20 technical standard for Coinbase in the coming months. This paves the way for supporting ERC20 assets across Coinbase products in the future, though we aren’t announcing support for any specific assets or features at this time. We are announcing this both internally and to the public as consistent with our process for adding new assets.” A statement from Coinbase read.
I have given my reasons on why Qtum (QTUM) will be the next to be listed on Coinbase, if only one coin is to be chosen. In this article however, I will expound on the possibilities Cardano (ADA) has to rival QTUM, XRP and other coins in gaining listing on the exchange.
I believe that the exchange stands to gain greatly with the addition of more projects, not securities, on the platform. Cardano offers a strong and ready domestic and international market of customers, suffers less regulation from the SEC, and offers a platform that is applicable in real world situations.
Why Cardano has potential to gain listing on Coinbase
Cardano, is a blockchain created to allow users to create decentralized applications and carry out instant transactions on a peer-to-peer network. The unique nature of Cardano blockchain makes it favorable for any of its users to build dApps and make instant transactions at almost free costs. The coin enjoys huge backing across Europe and the Americas with even a bigger following in South Asia, especially Japan, its parent country.
- “World’s best smart contract platform?”
On the current smart contract evolution in blockchain technology, Cardano (ADA) and to some extent EOS, come closest to toppling Ethereum as the biggest smart contract platform in the world. Cardano is written in Haskell, a computer programming language that uses complex mathematical logic in coding ensuring fast transactions and high security is maintained on the platform. The platform technically beats Ethereum, and it may only be a matter of time before it usurps Ethereum of the title, “World’s best Smart Contract Platform”.
Having an excellent platform doesn’t necessarily place your name top of the list in being added to Coinbase. Cardano is more than the blockchain itself. The Daedalus Wallet, where ADA are stored, provides a perfectly secure platform to store your coins. This may be one reason Coinbase should really focus on ADA listing given the security measures put in place.
- Cardano is strategically place to influence strategic customers
Coinbase and Cardano have many things in common when it comes to the customers available, however one stat that stands out from the rest is the increasing interest from Europe and Singapore for both terms. Cardano is slowly gaining interest in Europe with 8 out of the top 10 country searches of the token on google come from Europe. Coinbase top ten searches has 5 of the countries in Cardano’s search list with Croatia, Cyprus, Netherlands, Slovenia and Switzerland appearing on both lists.
This shows the potential market space present in Europe and it would strategically place Cardano (ADA) to be the next to be listed on the Coinbase. The customers are in place, the market is ripe now, we now await for the announcement.
This is not investment advice. Carry out your own research before investing in any cryptocurrency.