Cardano (ADA) is a relatively new cryptocurrency (released only last September 2017) that is making a lot of noise in the market and growing in spectacular fashion. It is hailed as the only currency based on sound scientific philosophy, open source software, and peer-reviewed work. One of this coin’s features is that it includes advanced contract handling from the get-go. That has made loyal followers out of many traders, investors, and enthusiasts.
Cardano’s e-Wallet is called Daedalus, and it’s like no other one in the market. It gives users the ability to activate decentralized applications within the cryptocurrency’s Blockchain. So, it’s both very powerful, versatile and safe.
Because of the many benefits it has, this coin has been rising unwaveringly since it arrived in the market. It’s trading at $0.32519 right now, which is an incredible 9.27% increase from its price from 7-days ago.
This is a currency that, despite being so young, is fully featured, it’s grown dramatically, and it has earned a very loyal user base globally – so, it’s worth it to have a look at its current situation and at Cardano’s development plans.
Cardano’s capitalization is already higher than what Litecoin enjoys. It’s worth over nine billion right now, which is an impressive feat to achieve in only eight months. It’s the worlds sixth preferred coin, according to Coinmarketcap and if things keep going as they have so far, it’s going to continue rising in value and market share.
Cardano’s value is anticipated to keep growing this year
Cardano has been rising in value ever since it was launched. It has increased 1500% in a short period.
Traders, investors, and experts like the currency’s exceptional features. Besides that, developing the platform is easy because Cardano is made through open-source, and the peer-reviewed philosophy they promote makes everything transparent and easy to follow.
The team behind Cardano’s ADA is highly competent and active. When you have all those things combined in a single cryptocurrency, chances are it will be stable, strong, and the usual fluctuations that hit the altcoins markets won’t harm it much.
Cardano bets on gambling
Among the pending questions that surround the Blockchain technology is, can it be used in casino games? This is a serious issue because if a gambler wins a big price and wants to collect it as a cryptocurrency then the transaction is bigger, slower, and more expensive. It’s easy to see why this would be a problem for a practical gaming system based on altcoins.
In a recent whitepaper, Cardano announced that they already have a gambling game that can be both fair and based on cryptocurrencies. Moreover, their game would not include any kind of transaction charge. Should they succeed in this enterprise, they would not only become one of the leading coins in the world, but they would also have all the casino business for them alone.
Cardano’s hardware wallet
A hardware wallet has many advantages. It improves security significantly because it’s mostly kept offline. While Cardano’s security is not in question at all, their new hardware wallet (launched last February 1st) is highly secure and capable of keeping any digital threat at bay. This increases investor’s confidence in the coin’s safety.
Attractive buying price
At the coin’s current price ($0.32519), it’s still cheap enough so you can buy it in high volumes but the prospects for growth are there as well. Cardano will inevitably become the year’s big opportunity to do great in the industry.
Steady and silent rise to the top of the coin industry
Cardano’s growth has been very quiet, but it’s been very steady as well. Keep an eye on this currency as it is expected to keep growing and become one of the market’s big players sooner rather than later.
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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 Britany G via Flickr
Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
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Crypto Billionaire Predicts Massive Price Growth by 2021
Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…
TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level
Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
- Little to no transparency
- Consumer lack of confidence
- Privacy concerns
- 48-72 hour wait time for withdrawals
These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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