Coinbase has announced they are exploring Basic Attention Token (BAT), Cardano (ADA), Steller (XLM), Zcash (ZEC), and 0x (ZRX) to add to the platform and are working with banks and regulators to add them in as many jurisdictions as possible.
The Coinbase team has made sure to make it clear that the announcement of the potential addition of new coins was made to the public and internally at the same time to remain transparent and to squash any suspicion of advantageous trading information of Coinbase employees. They have also stated it is not guaranteed they will be able to add all the coins they are looking into, and the listing process may only allow customers to buy and sell without the ability to send or receive using a local wallet. Also due to the anonymity of privacy coin Zcash, it’s possible they will only allow transactions through transparent Zcash addresses.
Coinbase has also stated if added, some coins may be available everywhere, while others may only be supported in specific jurisdictions, most likely due to different location’s regulations and legalities. Coinbase announced last month they will be adding Ethereum Classic to the platform. All though a date has not been specified when trading of ETC will go live, they did say it was an ongoing process they are currently working on.
The Cardano protocol was created by Charles Hoskinson, one of the co-founders of Ethereum. Cardano’s Bitcoin-like Settlement Layer (CSL) mainnet is live and it has a functional wallet for its built-in ADA cryptocurrency. It has also taken a different technical direction from other blockchains on several axes, like its Ouroboros proof-of-stake algorithm, its use of Haskell, and its focus on formal verification. While Cardano’s Computation Layer (CCL) is not yet live, the project has published long-term roadmaps, has shipped working software, and appears to have a growing community.
Basic Attention Token (BAT)
Stellar Lumens (XLM)
Stellar is an open-source protocol for value exchange developed by Stanford CS professor David Mazieres, Rust language author Graydon Hoare, and Jed McCaleb. Lumens (XLM) are the native asset of the Stellar network. Stellar’s consensus protocol is different from proof-of-work in that it allows and requires individual nodes to choose the set of other nodes they trust as a group (a “quorum slice”) to give them accurate information about the state of the Stellar network. Stellar allows for the creation of anchors that can issue assets, use bridge servers to interface with existing banks, and follow Stellar’s compliance protocol. Initially funded by Stripe, Stellar’s board members include Khosla Ventures partner Keith Rabois, Stripe cofounder Patrick Collison, WordPress founder Matt Mullenweg, YCombinator President Sam Altman, MIT DCI head Joi Ito, and AngelList founder Naval Ravikant.
Zcash is a cryptocurrency which uses recent advances in cryptography to allow users to protect the privacy of transactions at their discretion. The distinction between Zcash’s “transparent” and “shielded” transactions is analogous to the distinction between unencrypted HTTP and encrypted HTTPS. In both cases, the unencrypted/transparent version of the protocol allows third parties to see metadata associated with the communication or transaction, while the encrypted/shielded version protects this information. The Zcash protocol has been live since 2016 and the development team has published technical improvements that may reduce the memory consumption associated with transaction privacy by 98%.