Earlier this year, Cardano (ADA) surprised the market with its fever that went viral for a couple of weeks if not months. Those who suffered from this ailment were prone to talk about the coin constantly together with its projects. The infected ones were also seen to predict and hope for a wonderful market performance for this year as the digital coin and its management dedicate themselves to delivering on promises concerning its road-map.
And by looking at the coin’s fundamental concepts and roadmap, it is safe to say that once the Cardano (ADA) mainnet is live and running, the digital currency will give the more relevant coins such as Ethereum (ETH) and Ripple (XRP) sleepless nights as I will try to elaborate.
Ranked as the 7th most popular virtual currency in the world with a market cap of more than 3.7 billion US dollars, Cardano proves itself to be one of the most notable crypto projects in the cryptocurrency ecosystem. According to Weiss Ratings that were released in May 2018, Cardano was rated to be one of the most promising currencies in the digital sphere having a trustworthy and transparent team.
Cardano (ADA) Vs. Ripple (XRP)
As many might not know, Cardano (ADA) is a virtual currency that facilitates quick and direct money transfer on its blockchain network. On the issue of transaction speeds or durations, the number is yet to be confirmed by the Cardano team; many analysts differ on whether it beats Ripple’s 3.3 seconds per transactions. If these assumptions are anything to go by, Cardano might be the fastest virtual currency and blockchain technology out here to initiate and implement transactions.
Also, Cardano’s platform is believed to run financial applications that can be used for daily activities by regular people like you and I, by institutions, and by nations. From the sound of it, it sounds like Cardano (ADA) will be competing with Ripple’s projects namely, xCurrent, xRapid, and xVia.
Thanks to their worthy developers, the Cardano network is developed in layers that give the system the flexibility and capability to be easily maintained and upgraded. Cardano is usually upgraded using soft forks, and given its upgradable capability, Cardano (ADA) competes hand in hand with Ripple which also is upgradeable. Ripple released their recent upgrade, Ripple v.0.90.1.
Moreover, when it comes to price, Cardano is way cheaper and affordable compared to Ripple (XRP) in the virtual currency markets at present. It offers an untapped source of investment since there is no much hype around the digital token at the moment given that the Cardano blockchain project is run as a non-profit project.
Cardano Vs. Ethereum
In the case of the Parity incident, Ethereum’s smart contracts have proved itself to be vulnerable considering the case where a random user managed to lock up and hold hostage over 200 million US dollars of Ether in the form of a smart contract. Cardano also has the capability of offering smart contracts on its platform more securely and at a shorter period compared to Ethereum.
All in all, Cardano seems to be a present and future threat for both Ethereum (ETH) and Ripple (XRP). Keep an eye on this crypto; it’s not just another blockchain project, it’s something ‘real’ in the making.
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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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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
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