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A Big Breakthrough for Cardano (ADA): Prove-Of-Stake Finally Solved

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Cardano

Cardano (ADA) team managed to solve one of the biggest issues regarding the prove-of-stake algorithm, which turned out to be security. The tweet posted yesterday by Charles Hoskinson includes a video where Professor Kiayias talks about the breakthrough from the IOHK lab, dedicated to blockchain tech.

The importance of the breakthrough

Professor Kiayias of the IOHK team stated that new blockchain enthusiasts do not have to be in possession of any previous knowledge regarding the number of system’s active users. This is something that was always seen as a problem when it comes to prove-of-stake since it brought a lot of security problems with it. Prove-of-stake is much better when it comes to scalability than proof-of-work which is why the advancement in question is a big deal for Cardano ADA. Basically, because of it, Cardano is one of the most secure and scalable blockchains on the market, and its security can even rival the one of Bitcoin.

According to the Professor Kiayias lecture, the Cardano team is extremely excited about the new development. It is their goal to make Cardano the best available platform, instead of just gaining popularity. This can also be seen in the IOHK team’s efforts of making a light wallet. The team knows that the wallet’s cryptography needs improvement in order to truly become the light wallet.

Interest in Cardano is growing

The new developments at Cardano are not leaving the investors indifferent, and the interest just keeps growing. Google trends on Cardano are a very good indicator of this since they show how much interest the investors truly have when it comes to a specific crypto. The first quarter of 2018 showed that Google trends dropped significantly when it comes to Bitcoin (BTC), which was followed by the decline in its value. This isn’t only the case with Bitcoin, however, and the entire crypto market suffered the same blow. Essentially, the increase in Google trends shows that the users are being aware of the crypto’s development, and of the team’s efforts as well.

Because of that, it is expected that Cardano’s price will change significantly in the near future. Its current price is at about $0.30, which is the result of several weeks of price drops. However, the recent increase in its value indicates that it might go above $1 per token by the end of Q2 of 2018. It is estimated that Cardano has the potential to go up to $10 per coin without many issues, and according to the new developments, assuming something like that is not even that much of a stretch. Even the prove-of-stake breakthrough is by itself an amazing achievement. If the development manages to continue, a big decentralized app might run on Cardano’s blockchain sooner, rather than later. With something like that happening, Cardano (ADA) will see an even bigger increase in value.

The potential for this crypto is huge, and many believe that it might outgrow many other currently big cryptos. Its scalability is much better than that of NEO or Ethereum (ETH), for that matter, and scalability is one of the most important features of a digital currency.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Michael via Flickr

Altcoins

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

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Singapore, Singapore, 26th February, 2021, // ChainWire //

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

Unifi Protocol announces the launch of Unifi Farms. The most revolutionary part of Unifi Farms is there is no staking of the liquidity token required. The public beta launch of Unifi Farms V1 will take place on not one, not two, but six different blockchains at once. 

Unifi is proud to announce the upcoming public beta launch of Unifi Farms V1 on Binance Smart Chain!

Unifi Protocol is not a clone of other DeFi projects, which has led to some very unique innovations.  Unifi Farms will continue this tradition of shattering expectations and introducing features on Unifi Farms not being offered anywhere else in DeFi!   

Unifi Farms will have several advantages over old-fashioned DeFi farms.  The one that will likely be the most revolutionary with Unifi Farms is there is no staking of the liquidity token required! Welcome to the world of true auto-farming on Unifi, where we refer to it as No-Stake Farming.

Why is farming without staking so revolutionary?

Savings! Everyone agrees the high network fees on Ethereum have a large impact on the farming rewards earned by liquidity providers.  Even on low cost networks such as Binance Smart Chain, the network fee is a cost that reduces the benefit of farming. 

To participate in most farms, the user pays at least five network fees.…

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Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

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Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

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Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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