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Cardano (ADA) is determined to beat Ethereum in the smart contract game

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Smart contracts are Ethereum’s beef. It’s smart contracts that drive ETH and not the other way around. They’re versatile, safe, and they are why Ethereum became such a significant player in the cryptosphere. It was a pioneering technology at the beginning and, even now, Ethereum’s smart contracts remain the standard as they had little significant competition over the last few years. It seems that could change soon.

Cardano is a relatively new blockchain project founded by one of Ethereum’s cofounders, no less, with the idea to bring rigorous scientific principles and peer-reviewed research into the cryptosphere. 

It’s already considered one of the most promising coins to keep track of in the near future and it has a proprietary smart contract platform that could become Ethereum’s worst nightmare. 

Cardano has released a host of use cases for Marlow, which is its very own programming language aimed to create and execute smart financial contracts using Cardano’s blockchain and network. 

There’s an excellent case for Marlow entering the financial services sector and becoming a killer app which, in turn, would be a threat to Ethereum’s dominance and could even render current Escrow transactions and services into things of the past.

And that was the point all along. Marlow was designed precisely to get Escrow’s business and create a niche for itself in the global financial environment. IOHK (which is the foundation behind Cardano) released a new report, a few days ago, that explains how Marlow’s functionality can be integrated and made to interact with other languages and platforms in a way that every smart contract is efficient, quick, and reliable.

Charles Hoskinson, Cardano’s founder, is becoming noisy

When Cardano went live, around a year ago, it failed to capture the cryosphere’s attention. It was all the opposite; it created skepticism as very few believed it could bring anything to the table. But Cardano‘s team commitment to the project and hard work has been proving its worth. 

It’s already the ninth coin by market capitalization. Charles Hoskinson, the project’s founder, has been leaking some of Cardano’s ongoing projects (somehow in the style of Justin Sun) to bolster Cardano’s position in the top ten and to increase the brand’s momentum.

Mr. Hoskinson aims to make Cardano the leader in third-generation blockchain technology. He’s claimed to be developing many “secret projects” in that will become part of Cardano’s family and platforms, most notably, Icarus and Yoroi.

Icarus is a “fully open-source code base.” It’s supposed to bring about a new era in open source software by developing “a range of open-source initiatives” that combine the power of open-source development and third-generation blockchain technology. 

It will offer an arsenal of new weapons for developers to use in the Cardano environment. This should be a wake-up call for Ethereum. Complaints about Ethereum’s lack of scalability, slow speeds, and gas prices have become frequent, and it could prompt many organizations and blockchain-based developers, to migrate their technologies to one of Ethereum’s new rivals, such as Cardano.

Then there’s Yoroi. It is one of Cardano’s most recent projects, part of the, more extensive, Emurgo project). It was disclosed a few days ago, and it will be a light client wallet that is already being hailed as the new game-changer. It will run over Cardano’s network. It’s supposed to be incredibly fast and easy to use, and very secure.

How’s that helped with Cardano’s price?

It hasn’t. But it could.

Most coins have gone seriously down since last December, and Cardano is not the exception. But this very young project has managed to survive the hostile conditions we’ve seen all year long and become a stable altcoin that has, nevertheless, grown. So its current difficulties with price should be judged in the whole market’s context and not as Cardano’s fail.

Cardano’s stability as a coin as well as the excellent reputation it has achieved so quickly has many forecasters very optimistic about the coin’s prospects, and some expect them to reach $10 by next year. 

Besides, they’ve been able to secure some critical strategic partnerships like Metaps Plus, the giant mobile provider from South Korea. Because of the enormous relevance South Korea holds in the world’s cryptosphere, it’s expected that when this partnership blooms in full, it’s going to turn Cardano’s ADA cryptocurrency into a legitimate big player.

Mr. Hoskinson has been quite aggressive about other blockchain projects. He didn’t doubt to say that Bitcoin is supposed to be “a payment system and a means of exchange” that fails miserably just as soon as users try to use it. 

He wasn’t much kinder about Ethereum. He stated that while Ethereum “claims to be a world computer” it can still be broken by “CryptoKitties.” This kind of disdain is not so rare in the cryptosphere. But it remains to be seen if Cardano and Mr. Hoskinson can really back it up with massive adoption and technological successes. But if they do, their confidence will be rewarded.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pablo Rebolledo on Unsplash

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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