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

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Cardano ADA
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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.

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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

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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