In the beginning, there was Bitcoin, and in those simpler days, everyone wants a piece of it, and everyone who was in the business was offering it. Then came along Ethereum, as a rival, exchanges ummed and ahhed if it was a legitimate enough to work with.
Ethereum has earned its stripes and is easy to find, trade and buy/sell, but not on all exchanges. But what about other altcoins? How does Litecoin, Dash, Ripple, even Dogecoin, PutinCoin and other such ridiculous coins make it to a publically traded exchange?
Werner van Rooyen, from International exchange Luno, explains to Cointelegraph just what goes into adding another coin to an exchange platform
The complexity of adding a currency
Just recently Luno has added Ethereum to their stable and for Van Rooyen he explains that the decoding process is all about the resources it takes on the company in providing the service.
“We have to look at the four different resources a new currency will drain when we come to deciding on adding another one,” Van Rooyen tells Cointelegraph. “There are the technical resources; adding the new currency into the back-end (and making sure it’s done securely), including send/receive wallets, integrating it on an exchange etc, is vital and needs to be done properly.” […]