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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

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Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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Secret Behind Binance Coin: Why is BNB Outperforming Other Coins

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The crypto market has seen quite a lot of volatility in 2019, although not all of the price changes were bad, as they were in 2018. In fact, many coins saw significant growth. Bitcoin (BTC), for example, recently managed to breach one of its major resistance at $4,000. Many have predicted that breaching this roadblock will mark the next stage in Bitcoin’s growth, and potentially its return to higher levels.

However, while most of the market has been seeing significant gains in the past several days, one coin still outperforms them all — Binance Coin (BNB).

So far, in 2019, Binance Coin has shown a strong will of its own, often seemingly being immune to the market trends. While the coin did see a significant loss in 2018, it spent most of 2019 in recovery, even while the last remnants of the crypto winter still tortured the rest of the market.

Back in the early days of January 2019, the coin’s price was barely above $5. Now, however, only a bit over two months later, BNB price is at $15.86, and still seeing growth. The coin never suddenly spiked, but instead, its growth was steady and stable. Whenever it approached new resistance level, BNB would slowly carve its way through it, turning it into support, and continuing on.

But, what is allowing it to break free from…

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Cryptocurrency Analysis: Tron (TRX), Ethereum (ETH) and Bitcoin Cash (BCH)

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The cryptocurrency market has entered another turbulent period, with shifts between price recoveries and corrections happening as often as several times per day. It is clear that the coins are still nowhere near to being stable, and most of them are impatient for something to happen, and that extends to investors and traders as well.

However, while most eyes are on Bitcoin, many are also curious about other top coins as well, particularly those within the list of the top ten largest cryptocurrencies by market cap.

Ethereum (ETH)

Ethereum is the second largest cryptocurrency by market cap, and likely the second most important coin ever to be made. It is the coin that helped the attention shift from crypto towards blockchain, acting more as a development platform than an actual currency. As a result, Ethereum has started the blockchain revolution, and it became the go-to project for developing dApps, smart contracts, as well as new coins.

It is still the leading project when it comes to the number of other projects developed on its platform, and while it has its own issues — as well as a lot of competition — Ethereum manages to hold its ground. Meanwhile, its coin, Ether, is currently seeing growth, aiming to once again reach the price of $150, although it has several large resistance levels to beat. However, it already breached the…

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