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

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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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

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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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…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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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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