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Why Cardano (ADA) Deserves Your Attention

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Cardano
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Cardano, ADA, a currency among the top ten most promising coins, takes the 7th place on the global coin ranking list. Although Cardano is struggling for quite some time to break through the value of 0.30$ and above, ADA did pretty well on the market even when all other currencies plummeted. Let’s see what Cardano has been up to as well as get to the bottom of why this currency definitely deserves your attention.

A Few Words on Cardano

In case you forgot about Cardano, it represents a platform that much like Ethereum is operating with smart contracts. ADA is Cardano’s local token and it is used for processing fast and private transactions within Cardano blockchain network. The platform along with its developers is all about finding a balance between the user-end part of the network and regulations that have to exist in a small portion although the platform makes up for a decentralized technology.

Cardano developers understand the need for privacy their users and ADA holders are looking for in decentralized platforms, but they are also aware that there have to be some regulations present in the system so that every operation would run smoothly.

The platform is built to use a unique programming language, called Haskell. The dev team has decided to go for Haskell, precisely because this programming language has a pretty high bar of tolerance for faults in the system. That way, by implementing Haskell into the system of Cardano platform, the platform is made to be flexible.

When you are operating with blockchain and decentralized technology, having a flexible ecosystem is more than welcome, so using Haskell was a score. Flexibility in decentralized blockchain based systems is crucial for having a functional platform because users on the platform can overwhelm the system at the time as at any moment hundreds and thousands of transactions are being processed almost in real time on Cardano. Haskell works by tolerating mistakes that can appear in the long run as the system is constantly changing, allowing an easy way of resolving on board issues.

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Cardano and the Interledger Transactions

Although Cardano platform is functioning pretty neatly with solid good technological capabilities, the head of ADA’s developmental team, Charles Hoskinson, is working on finding a way of enabling faster transactions on Cardano platform.

This can be achieved by implementing some changes to the platform, where it is planned for Cardano to have a scalable ecosystem with Interledger transactions. The main plan is to allow peer-to-peer operations within the system where data could be easily transferred at high speed, working in real time on processing data without the need to download that same data in order to gain the access to it.

To achieve this ability, the developers would have to split Cardano platform into smaller sections, which should be made possible with RINA protocol, which is Recursive InterNetwork Architecture.

The Interledger Transactions would thus be small portions of Cardano network that are working on processing data promptly and in real time by using side-chains as a way of establishing easy communication between the portions of the network, i.e. sub-networks.

Cardano is currently working on a Test Net that was launched in order for the dev team to make sure that once the real deal (a genuine Cardano platform) gets released that it would be working flawlessly.

The platform is using a tool called Block Explores which allows users to trace all transactions being processed on Cardano blockchain network. This tool should be further improved with added charts, statistics and other handy features all ADA users will be able to take advantage of.

How Cardano (ADA) Became Money

In case you didn’t know, ADA, Cardano’s main currency has just become money. This is a huge deal for Cardano as many cryptocurrencies are struggling on the market, mostly with getting accepted by vendors and different shop spots.

While everyone is busy observing how ADA is dropping down in its price for days now, some good things are happening behind the curtains. ADA was added to the Centra wallet. Centra wallets also include being accepted with Centra card, which means that ADA can now be spent as real money. This is an amazing new chapter for ADA as this positive occasion can affect this currency, in the long run, eventually boosting its price.

Centra cards are accepted across the globe on 38 million different locations, which means that ADA now has 38 million opportunities to be used as a real value in global proportions.

This can even lead to having more serious investors getting interested in ADA and Cardano, so it can be easily expected to see this coin jumping up in price in the time to come.

Cardano (ADA): Price

Cardano had its ups and downs in the last couple of weeks, even making it through the harshest times on the crypto market. When all major currencies were dropping low, Cardano remained immune to the vulnerable market and continued with trading in the green.

However, Cardano then started to drop in price as well, which continues to the very time of this writing. On March 7th, 2018, ADA is being traded at 0.2459$ per one unit, which is the result of the latest negative change in the price. Cardano dropped by -14.86% against the dollar in the period of 24 hours. Needless to say, this was a pretty devastating case for all ADA holders.

However, given the fact that Cardano makes up for a technologically strong blockchain project, this platform and its currency are here to stay. The dev team will be working on further improvements while testing the limits of their Test Net before launching the real deal.

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

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 Adityo Sastrimuljono via Flickr

Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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