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Cardano ADA alert: Solid foundations revealed by latest technical release

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Cardano ADA solid foundations
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Cardano recently announced two new testnets and other substantial progress in their Proof of Stake protocol.

At the heart of Cardano’s technology lies Ouroboros. It’s a scientifically proven algorithm that uses the Proof of Stake principle to guarantee every transaction’s security. Cardano is a pioneer in bringing scientific ideas and peer-reviewed processes into the blockchain world. This latest Ouroboros version (called Genesis) allows new users to join the blockchain without any previous activity or knowledge of the chain’s prior history.

Ouroboros at Eurocrypt 2018

IOHK owns Cardano. They’ve been invited to Eurocrypt 2018 to show their new technology to the cryptography community. This is a great pat on the back for Cardano because they privilege peer-reviewed work and scientific philosophy as a core value in their project.

Eurocrypt is a prestigious academic event, which seldom features presentations with a commercial intent, which is why the fact that Cardano is included this year counts for even more. But showing scientific credibility is one of the things that has distinguished the Cardano project from all other blockchain projects from its very inception.

K-EVM and IELE

K-EVM and IELE (which is more like the LLVM) are two testnets recently announced by the Cardano project.

K-EVM will be released coming May 28th. It aims to bring the Ethereum Virtual Machines semantics to the K framework so that EVM is formalized in a better, more accessible way for developers.

IELE’s point is to give developers a compiler and a toolchain that work on LLVM’s modular principles. It’s the register-based virtual machine that is at the heart of Cardano’s computing layer.

Both K-EVN and IELE are part of Cardano’s Goguen milestone. This is an important step in the project’s development. It’s aimed at increasing functionality for the currency’s smart contract features (which is already unique in the market) and also to support Cardano’s smart contract programming languages called Plutus and Marlow.

Last month’s update announced that the Plutus language engineering is very nearly done. Also IELE’s translator, which allows it to interact with the Ethereum Classic Mantis client. That’s been the roadmap so far and Cardano will update it soon. We should all pay attention.

Cardano’s ADA has been supported by the market over the last few months so it’s value has been increasing steadily, even among the fluctuations we’ve seen recently.

This is a project that has undergone a thorough audit from FP Complete (a third-party software developer) successfully. That has made investors and enthusiasts confident in the project’s reliability and potential to grow and to be held accountable. ADA is currently listed in the Huobi saw Chinese capital flow at Beijing.

This kind of reliability, transparency, announcements and other events have helped the ADA’s value to rise by 150%, and this trend could keep going up as the market sees that Cardano delivers excellence at every step of the way.

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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 Gil Ortiz Jr. via Flickr

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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