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Cardano (ADA) is better than Bitcoin, yes, but can it make to the top?

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Cardano (ADA) is a cryptocurrency that is better than Bitcoin due to the fact that it makes use of smart contracts (I’ll shed lights on more reasons why Cardano is better below, too). Cardano (ADA) is a blockchain technology that also makes use of the proof-of-stake and not the proof-of-work. Collectively, if we take a look at other coins including Bitcoin and Ethereum in the crypto sphere, you will notice that these coins continue to attract lots of investors – but the cryptosphere is somehow stable so are these cryptocurrencies too.

The strength of Cardano (ADA) is probably its scientific and academic approach. It is essential to know the cryptocurrency itself travels far-and-wide to reach countries and educate people. Cardano (ADA) is pushing towards becoming one of the top 3 cryptos in the world and even surpassing Bitcoin. The CEO of Cardano (ADA), Charles Hoskinson, aims for the revolution of Cardano and the crypto might become the next big thing in the future.

The Team Behind Cardano (ADA)

3 primary organizations own Cardano (ADA):

The IOHK: The IOHK team is the company that is developing Cardano (ADA) till 2020.
Emurgo: This team focuses on and invests in startups; it is also in charge of building commercial solutions for the platform
The Cardano Foundation: This team is an independent body that is in charge of supporting Cardano investors with all the regulatory and commercial problems.

At the time of writing, the market cap of Cardano (ADA) is $3.46 Billion. Its current price is around $0.133, and the volume (24hr) is $52,794,200. Having reached the top 8th crypto position hasn’t been a smooth journey for the coin thus far.

How Cardano (ADA) Operates

Cardano (ADA) works in two distinct layers: the settlement and computation layer. The settlement layer helps investors to transact the ADA from one wallet to another. On the other hand, the computation layer helps new and old users to have quick access to smart contracts.

It is important to know that all blockchain technologies have just one layer; this makes Cardano different from other cryptocurrencies.

There are lots of advantages to Cardano’s two layers. For instance, the computational layer enables Cardano to adapt to any change. This means that different countries have their own laws and regulations and Cardano can adapt to how vital information is stored and accessed by the rules and laws of any state.

In addition to this, Cardano enables ‘soft forks’ which other major cryptos don’t have.

Cardano’s Consensus Algorithm

For easy understanding, the term ‘consensus algorithm,’ has to do with knowing who achieves the next lock in the cryptocurrency, i.e., users get rewarded for a specific amount of cryptocurrency in their wallet.

One big disadvantage of Bitcoin is that it does not have any interest in the proof-of-stake. Cardano has identified Bitcoin’s fault and has improved on it by producing a proof-of-stake network called Ouroboros. As a result, Cardano can’t be mined, and it will maintain the 45 billion ADA coins that have been distributed to the cryptosphere.

Data Transaction

When it comes to holding and safeguarding vital information and data, Cardano (ADA) is a better than Bitcoin and Ethereum.

Besides, Cardano (ADA) recently produced a multi-layer processing system that allows it tokens to be used either as currencies or storage facilities for contact information.

Cardano, the Next-Generation Cryptocurrency?

Cardano was created to compete with Bitcoin. As stated earlier, the blockchain was created by Charles Hoskinson, the co-founder of Ethereum. Cardano (ADA) operates almost the same way as Ethereum, due to the fact that the platform supports Dapps and smart contracts. There are few things that Cardano aims at; the first is for blockchain technology to be created using the scientific approach.

Secondly, the blockchain platform focuses on regulatory and compliance, scalability, and cross chain integration. Moving forward, Cardano (ADA) also aims to collaborate with other cryptos without the use of third parties, and this helps to:

  • Reduce charges that are imposed by different exchange platforms.
  • Permit faster and efficient cross-border transactions
  • Remove third-party risks like losing some cryptos as a result of the involvement third-parties.

Is Cardano (ADA) Worth Investing?

Cardano (ADA) is good crypto to invest in; this is since scientific procedures support it and it has futuristic goals. Two things keep Cardano (ADA) going – the team behind it and its consultants (it is an open-source network).

Cardano’s project is still ongoing, but when it has been finalized, it will become the best altcoin for Ethereum.

Final Words

There is so much that Cardano (ADA) brings to the table. The blockchain offers a better value plan and confidence that most users need in the crypto world. The Cardano team knows that every investor in the crypto sphere wants a better value and also the trust to invest more without being afraid of what might occur next, and these are the values that the blockchain cares about. These features back the crypto in its quest to become the best in the crypto sphere, it might not top Bitcoin anytime soon, but the coin surely can make it to the top 5 cryptocurrencies list soon.

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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 Maxpixel.net

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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