Cardano (ADA) is determined to beat Ethereum in the smart contract game - Global Coin Report
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Cardano (ADA) is determined to beat Ethereum in the smart contract game

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Cardano Ethereum

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

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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