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.
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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…