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Cardano (ADA) is a good pick, but it still needs to deal with these 3 downsides

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Cardano ADA
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The current 8th largest cryptocurrency of the market, Cardano (ADA), saw an incredible hype not so long ago that shoot the crypto to the top and made everyone in the cryptosphere wondering exactly where could ADA get to, and what would it be possible for the token to achieve. Now that the hype is mostly gone, it is the best time to respond to these and other questions. Let’s see how it goes.

Cardano (ADA) 101

Cardano (ADA) is built on a fully open source blockchain with the use of the Haskell programming language, a code that actually was constructed from scratch (no copy-code controversy here as like in the case of Tron since the Ethereum founder and some other programmers criticised it for doing such).

It was created by two remarkable figures of the crypto world, Charles Hoskinson, and Jeremy Wood, both of which were formerly a part of the Ethereum group. In fact, in the beginning, one of the most vociferate ambitions of the crypto was to serve as an Ethereum killer, a crypto providing everything Ethereum does but in a better way.

A group of 30 developers participated in the creation of a crypto platform that is actually able to deal with smart contracts at an enterprise level usage, which means it was built to be scalable. The same way, the company decided to collaborate with the Input Output Hong Kong (IOHK) which is in charge of designing, developing, and maintaining the Cardano platform until 2020.

Finally, one of the most desirable features that Cardano built was the creation of two different layers that interact with each operation. This way, data, and transactions function separately from the other, on the one hand, the transaction part works under the Cardano Settlement Layer (CSL), and on the other, the data part functions with the Cardano Control Layer (CCL).

Three main disadvantages of Cardano

As the official webpage of the crypto establishes, Cardanois the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach”, and this, although represents a groundbreaking concept it, at the same time, is an antonym of what the crypto community actually seeks. In fact, this approach can be interpreted in a way as a form of going back to the roots of the “old world” where information didn’t move freely, and people were not that much into self-learning.

Cardano has characterized for being one of the cryptos in the market that has grown incredibly fast, and this is something that mainly responds to the way the market moves with several developments and different coins that appear every day. But as it seems, this is actually a curse and a blessing for the currency at the same time, because in the measure that Cardano tends to grow so do others in the market, among which probably we’ll have a ‘Cardano killer.’

To conclude, another disadvantage that Cardano (ADA) has is that the crypto is aiming to approach two of the most opposite targets of the industry, privacy, and regulations.

For the one part, Cardano is trying to move head to head with regulators in order to be somehow a ‘safe coin’, and on the other, the coin also wants to provide an entirely private and anonymous space for users to trade, and we can all agree that besides being an ambitious goal, it is improbable one.

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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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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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