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Cardano big bag of tricks Capable of Obliterating every other Blockchain

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Cardano

There is no denying that Cardano Blockchain is based on an extremely unique concept. In fact, market analysts in the cryptocurrency space indicate that the ADA coin might very well surpass big time cryptocurrencies such as Bitcoin and Ethereum. But, could this be a fact or is it just another FUD that will cool down with time?

Well, a closer look at statements from Cardano’s founders on the project’s roadmap and future trajectory might prove the coin to be a contender. After all, the project has barely been around for a year and the possibilities for ADA to dominate the crypto space become clearer with every partnership and technological development.

Cardano going for the top spot

Granted, the Ethereum’s and Bitcoins of the crypto space are currently only popular for their sizeable market capitalization, however, there is less to show even for Bitcoin when it comes to real value. Charles Hoskinson puts it much clearer in a statement from an interview where he mentions that although “Bitcoin is advertised as a payment system and a means of Exchange” everyone who tries to use it ends up failing as the technology is still underdeveloped for real-world use cases and simply doesn’t work. In the case of Ethereum, Hoskinson believes that although “Ethereum claims to be a world computer,” the fact that it can be broken by Crypto kitties makes it a popular platform that lacks in practicality.

So if Cardano plans to take the crown and be the top cryptocurrency and Blockchain platform in the industry, it, therefore, goes without saying that the ADA Blockchain must be oozing with technological developments that are capable of making it stand in terms of utility? Right? Well, let us take a look at some of Cardano’s most innovative technological developments and partnerships that will propel it to the top spot.

Cardano’s Blockchain and Future advancement

Cardano is obviously paving the way for world dominance with a 50-year plan that stretches beyond the confines of the developed world and straight into untouched markets like in Africa as seen with a recent partnership with Ethiopia and even the Caribbean and South America. With the Ouroborous proof of stake protocol, not to mention a peer review concept, ADA’s Blockchain network is venturing into untouched territories. In fact, the technology behind Cardano is written in Haskell as on an open source platform that is fully decentralized making the platform secure, scalable and accessible to everyone.

In addition, Cardano is also the only cryptocurrency and Blockchain project based on scientific philosophy with a research-driven approach that is driven by a large global collective of engineers and research experts. This means that the platform can scale faster than its competitors that are only governed and controlled by a vulnerable proof of work concept.

In addition, Cardano has been working on new partnerships set to elevate its use and integration into various payment platforms, a good example is a partnership with Metaps Plus through EMURGO (a Japan-based VC firm).

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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 DaPuglet Pugs via Flickr

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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Altcoins

Ready for Chaos? Swingby’s Chaos-Mainnet Launches on December 28th

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Singapore, Singapore, 9th November, 2020, // ChainWire //

Swingby is the “warp-speed” protocol for inter-blockchain swaps. It allows all DeFi users to move assets between blockchains without a trusted party. 

Today, Swingby announces its first mainnet network will be released on the 28th of December; it will bridge native Bitcoins onto Ethereum via Wrapped BTC (WBTC).

The initial bridge will enable the most liquid digital asset in the world (Bitcoin), currently valued at a $300 billion market cap, to be moved onto the Ethereum network to tap its $10b DeFi ecosystem.

“This launch will be pivotal to Swingby. After December 28th, Swingby will have a fully operational Chaos-Mainnet network which will be generating a tremendous amount of value to the world of DeFi and bringing in a large number of new users” – Yusaku Senga, CEO

Why is this big news for DeFi?

On December 28th, Swingby will be launching its first Chaos-Mainnet bridge, allowing users to easily move their bitcoins into WBTC on Ethereum without the need for a trusted party. Similarly, the bridge can be used in the opposite direction allowing WBTC-ERC20 tokens to be moved back into native BTCs.

What’s so special about it?

  1. Trustless: Swingby’s Skybridge will be the only way to trustlessly swap BTC into wrapped Bitcoin (WBTC).
  2. Simple to use: The Swingby bridge has been designed to work with standard transaction types removing the need for complex smart contract calls…
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