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Cardano (ADA) Making Inroads To China

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Cardano

The bear market of the first quarter of 2018 is solidly over. No longer in crisis mode, many cryptocurrency projects resumed high profile developments. To this end, major Chinese exchange Huobi recently announced that they would be including Cardano’s ADA cryptocurrency on their site. One of the top coins by market cap, Cardano is still in a somewhat precarious position – their final product supposedly serves as an upgrade compared to many of the existing blockchains. However, as it currently stands, that product is still some distance away.

The market reaction to this announcement was universally positive, as one could expect. Cardano’s ADA nearly doubled in value over the course of the month so far. The listing, combined with the overall positive outlook on the market as a whole, resulted in Cardano being one of the better recent performers. As Cardano continues to move towards a full product release, this trend is likely to continue.

The Huobi Exchange

Huobi is the largest exchange in the Chinese cryptocurrency sphere, placing second globally. With over $1 billion in USD valuation, Huobi is a major player, and their inclusion of Cardano bodes very well for the academically minded cryptocurrency. While it remains to be seen whether the Chinese market has a persistent appetite for the decidedly ‘Western’ coin, any new market is positive news. Initial trading statistics suggest that Cardano should have no problem establishing itself on Huobi.

China’s blockchain environment is as notoriously closed in as their traditional business space. Home-grown blockchain projects like NEO and ONT see little opposition. On the other hand, decentralized exchanges that cannot be controlled by the government face suspicion and hostility. China’s mercurial mindset often swings the global market, for better or worse. The inclusion of Cardano within Huobi means that ADA has slightly more protection than they once did. This is still dependent on the Chinese government avoiding a full ban on crypto-trading, something that they have leaned towards regrettably often in the past.

A Brief History of Cardano

Unlike other blockchain projects, Cardano development focuses on the same rigorous, peer-reviewed process that ensures quality in academic fields. Their board’s design is similar to that of a research institute’s board, with consistent transparency fueling community engagement. Similar to several other projects, Cardano’s intention is not as a cryptocurrency in and of itself. Rather, ADA serves only as a means to fund the development of Cardano’s blockchain protocol. Their software will allow for native decentralized applications combined with token standards. Should Cardano succeed, they would be in direct competition with the more established Ethereum blockchain.

Cardano does have advantages in their roadmap. For instance, their layer separations allow for greater functionality than Ethereum’s single layer. Smart contracts will become available with the release of the Control Layer. The layer works in conjunction with the Settlement Layer – but without bogging down the transaction speed. The blockchain’s strict control system allows these modules to be added via a forking procedure, without the danger of the community splitting. We’ve seen just that problem with Bitcoin and Bitcoin Cash, as well as Ethereum and Ethereum Classic. The ease of Cardano’s forking system also allows them to plan modules, and fix scalability issues as they appear.

Binance Announces Cardano Trading Pairs

Alongside the addition to Huobi, Binance announced that they would be adding additional trading pairs for Cardano on their own exchange. Already offering Bitcoin and Ethereum pairs, Cardano is now available for trade with both Tether and Binance Coin. This is huge for Cardano, not only due to their increased liquidity but also due to the perceived importance that comes alongside these trading pairs. It is indicative of high volume and a solid belief by Binance in the future of the project.

Cardano’s Academic Future

Once Cardano’s control layer goes live, the blockchain will be able to directly compete with industry giant Ethereum. Considering the issues that Ethereum faces in terms of slow transaction speed and increasingly high fees, the environment is ripe for a usurper. Whether or not this will be Cardano remains to be seen, but given the recent news, it seems possible. It may even be likely.

We will be updating our subscribers as soon as we know more. For the latest on ADA, sign up for our Telegram!

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 Michael Levine-Clark via Flickr

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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 like Bitcoin and Dash, to help protect their assets and hard-earned…

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