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All You Need to Know About the Developments on the Cardano Blockchain

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Cardano

While big blockchain projects like Bitcoin and Ethereum are game-changers in the field of cryptocurrency, the market has seen a boom in several altcoins, which strives to deliver better security features. Among the third generation blockchain projects, Cardano (ADA) stands out in terms of its revolutionary approaches to the blockchain. Cardano, which sees itself as next-generation blockchain network, anticipates solving the challenges in the existing systems.

Despite all the attention from the investors, the big market players like Bitcoin and Ethereum have their own set of limitations, ranging from high transaction fees to frequent security breaches. As a dynamic blockchain system, Cardano aims to mitigate the problems of scalability, interoperability, and sustainability. To actualize these goals, Cardano has created different groups within the systems, allotting separate functions to each.

As a fully decentralized network, Cardano intends to deliver more advanced features through smart contracts. While Ethereum’s smart contracts have been acknowledged for its smart and decentralized applications, Cardano aims to provide much more. The project is a mammoth enterprise in terms of its vision and undertakings, seeking to eliminate the challenges in the market. Born out of a scientific philosophy and a research-based approach, this formidable altcoin can be regarded as Ethereum killer in its own right.

Technology Behind Cardano

Unlike some of the big names in the industry, which are still stuck with outdated algorithms like Proof of Work, Cardano deploys the Proof of Stake protocol, which has a number of advantages over its competitors. Cardano’s Ouroboros Proof Stake (PoS) algorithm is unique in terms of how it defines the way nodes reach consensus. Written in advanced coding languages, the blockchain has scientifically proven as secure.

Ranking 8th by market capitalization, Cardano is regulated by renowned developers, consisting of a large number of expert engineers and researchers. While the regulatory aspects of the system are governed by Cardano Foundation, the commercial applications of Cardano network are regulated by Emurgo. Besides this, the popular blockchain engineering company IOHK is responsible for some of the essential upgrades on the blockchain. Led by Charles Hoskinson, the team can be regarded as the catalyst for Cardano’s steady growth in the industry.

Development Upgrades in the Network

Recognised as the next-generation of the blockchain, Cardano has created quite a stir among the investors for its progressive developments. Featuring among the top ten currencies in the market, this blockchain attempts to maintain a healthy relationship with its community. In fact, it leaves the communication channels open by releasing technical updates periodically. Besides keeping the audience in the loop, the team introduces frequent upgrades to the system. The Daedalus wallet, which is looked upon as one of the key components of the blockchain, has recently been updated to incorporate new features.

  • Cardano Invests in the ICO of a Blockchain Startup

Reviewing some of the recent developments in the network, it is essential to highlight Cardano’s investment in the Initial Coin Offerings (ICO) of the startup enterprise Disciplina. Issuing a statement about the investment, Disciplina founder and CEO Ilya Nikiforov said “This is a huge endorsement for Disciplina by one of the world leaders in blockchain and cryptography. We are thrilled that Mr. Sasaki sees the opportunity for our platform to improve the way academic records are managed.”

  • Cardano Gets Listed on Bithumb

As per the price charts of Cardano, the coin’s performance hasn’t been disappointing in the last few weeks. To alleviate the tension in the community, Cardano has announced some positive updates regarding ADA trading. According to the update released by Bithumb, Cardano has been listed on Bithumb. While this came as a big surprise to the ADA holders, ADA has recorded a positive market response in the form of upward price movements.

Cardano’s Price Forecast

Looking at the price movements of ADA, it is evident that a bear run is on the cards. Although all is not fine with Cardano, its price has taken a turn for the better, showing signs of a reversal. As of 14th June, this altcoin is trading at $0.168749.Boasting a market capitalization of $4,375,167,226, this big market mover has recorded a subsequent rise in the trading volume. While it’s difficult to predict the future of this currency, it is possible to imagine the currency among the top gainers in this field, and going by the analysts’ findings, Cardano (ADA) can increase by over 8000% in 2018.

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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.

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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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