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These latest strides show why Cardano (ADA) is so special

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Cardano ADA
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It has been an interesting few days for cryptocurrencies as the crypto space celebrates the third birthday of Ethereum reflecting many milestones and success that have occurred in the crypto market since the inception of the initial smart contract blockchain.

Adoption and mainstream interest are increasing with each day that passes facilitating the market cap for the entire cryptocurrency industry to increase by over 5,900% with the number of virtual currencies in circulation meeting all-time high numbers. Initially, the mindset and perception of many were that Ethereum was going to be the only blockchain technology that was going to be able to foster mainstream adoption of blockchain technology. That was before Cardano (ADA) came into the picture.

Recently, Charles Hoskinson, Cardano’s (ADA) founder, came out unveiling some of the digital currency’s secret project before the expected day. While he was prematurely unveiling the secret project, Hoskinson introduced Icarus to the world, and yesterday he divulged Yoroi as the addition of Icarus. Cardano foundation has since come out clear to tell the whole world that the two projects have since been updated on Cardano’s (ADA) roadmap.

Many people do not have a single idea of what Icarus is or what it represents? According to Cardano’s official blog. Icarus is a google chrome extension and a locus implementation for application for a lightweight wallet that has been developed by IOHK. The Icarus idea is believed to have the potential to give developers and creators the vantage point of inventing their light and secure mobile wallets for the digital coin.

Icarus is a fully open source code base that will be the first step in a range of open source initiatives to provide developers with a suite of tools for Cardano.”

According to news from Cardano foundation, Icarus came about a series of proof of concepts that were incepted back in March, this year. A small group of developers and IOHK engineers were fascinated by the thought of creating a lightweight Cardano (ADA) wallet that had all the features of Daedalus but superior regarding easy to use and efficiency.

What is Yoroi?

Earlier last week, Cardano (ADA) launched its light-client wallet by the name Yuroi that was launched by Emurgo. Emurgo is an institution that facilitates and supports new Cardano (ADA) projects. The organization declared its interest in launching the foremost implementation of Icarus to the crypto community. Icarus is the first implementation Emurgo is working on to launch; it is a Yoroi wallet.

In the Japanese language, the meaning of Yoroi is great amour a significant name for the project that is taunted to be a secure armament like the one Samurais used to wear in times of battle.

Cardano (ADA) Market Presence

The last 48-hours has experienced a lot of activities in the cryptocurrency sphere as most digital assets have turned their color from red to green in chameleon fashion, and then to red again.

Currently ranked as the 8th most relevant crypto in the market according to market capitalization, Cardano (ADA) seems to be no different than others as it is trading in red alongside others. At the beginning of this month, Cardano’s market price stood at $0.14 after reaching an impressive $0.17 valuation at the end of last month, but now the coin stands at $0.09. The current price of Cardano has nothing to do with what it deserves, by no means, it rather is because the whole market is walking on the bloody-road as yet. Things might change 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 Pixabay

Altcoins

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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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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