Ever since the inception of Bitcoin and Ethereum, other cryptocurrencies have been produced with new ideas to solve the problems associated with global finance. Without no doubt, one of the most important digital assets in the crypto verse is Cardano (ADA); and it is essential to know that its founder, Charles Hoskinson, is a well-renowned personality with a great vision.
A Deep Dive into Cardano (ADA)
Cardano (ADA) was created in 2015 by Charles Hoskinson, who is also the founder of IOHK. He was also the co-founder of Ethereum.
Cardano was created under the principles of science and blockchain. The blockchain protocol is quite new in the crypto market, but it is emerging as one of the best cryptocurrency today.
All these plans started way back in 2011 when Hoskinson initiated the idea of blockchain and cryptos. At that time, Bitcoin was the main cryptocurrency and its tool: PoW (Proof-of-Work), was the most used technique.
As a result of scalability problems and charges during the transaction, PoS (Proof-of-Stake) got introduced, and Hoskinson has made a vast improvement on PoS – creating a new advanced PoS mechanism with a consensus network called Ouroborus.
Subsequently, Cardano’s new consensus protocol, Ouroborus, was introduced to create a faster means for transactions with minimal costs. One thing worth noting is, Ouroborus consumes less energy, and it is efficient.
With this, Cardano (ADA) has been able to solve one of the main problems that Bitcoin and Ethereum have not been able to resolve, thus, making it one of the top 10 cryptocurrencies in the market today.
Furthermore, we do know that the main problems of cryptocurrencies are, scalability, interoperability, and sustainability. Cardano was created in a way that makes it distinct to solve those problems. The cryptocurrency is divided into architectural layers to offer top-notch security for smart contracts.
Cardano Reveals Uses of Marlowe
Cardano has recently revealed the uses of Marlowe – a DSL that aims to execute financial contracts. The Cardano team has stated that Marlowe DSL was created with executable small-step semantics. Indeed, this invention by Cardano is a big competitor to other cryptocurrencies that use smart contract.
Cardano Adds Great Features to Daedalus
Daedalus is regarded as one of the most beautiful cryptocurrency wallets in the world today; that is because it is one of the safest means, with powerful blockchain technology to store ADA tokens.
As part of its growth process, Cardano has decided to add more features to Daedalus. Although lots of more features are still expected to be added to it soon, Cardano team is always dedicated as it always creates new updates for its community.
For Cardano’s community, it is essential to know that new updates on the sync issues and balance overview have been released.
Cardano’s Virtual Machine, IELE
Cardano has caught the heart of lots of crypto enthusiasts, not only because it is faster and consumes less energy, but because of its IELE Virtual Machine that was launched in July. This virtual machine is efficient and offers excellent opportunities for Dapps developers.
There is only one great aim Cardano has, and that is to solve problems that Bitcoin and Ethereum couldn’t answer. The cryptocurrency is also poised to become the next generation cryptocurrency. Consequently, Cardano is also collaborating with ten tertiary institutions to achieve its global aim.
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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…