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Cardano (ADA) Plans for a Comeback in the Crypto Game

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Cardano (ADA) is one of the most reputed and well-known decentralized public blockchain and cryptocurrency project, which is entirely open-source. We cannot ignore the significance of it when it’s firmly in the green zone along with NEO and its rival EOS. Where most coin’s value is manipulated by the effect of its hype backed up with misleading information, Cardano’s community remains oblivious and unshaken to such tricks. In the recently formed bullish markets, people would want to get into projects which ensure a healthy return and the Big Five will get its fair share of attention, but Cardano is the project which could actually lead the cryptocurrency markets by the nose in the upcoming days.

Brief Overview of Cardano:

Cardano is building a highly developed smart contract platform whose features outshine all other pre-existent technologies. Cardano is the first blockchain based platform which was launched as a research-driven approach. Cardano names itself as the third generation blockchain platform which was built to solve the problems surrounding blockchain space. The developer’s team working behind Cardano is made up of expert technical researchers who ensure that its technology is peer-reviewed.

Components of Cardano Project:

Following are the components that build Cardano blockchain project:

i. CCL (Cardano Computation Layer)

The Cardano computational layer is all about programming language and it is responsible to bring programming language to Cardano’s blockchain in order to merge with it. This part interacts with CSL that is described below for resulting in a settlement.

ii. CSL

CSL or Cardano Settlement Layer is based on a distributed ledger aspect of Cardano and it functions in an ecosystem which is primarily focused on it. In this layer, the value of Cardano is seen to be transacted.

iii. Ouroboros

Aims and Objectives:

Its Cardano’s own proof-of-stake algorithm which powers Cardano’s blockchain, but it hasn’t been tested anywhere else. It’s an integrated design consensus protocol which has sustainability feature built into its own reward system where approx. 25% portion of the block reward is placed in Cardano to ensure the growth of the ecosystem.

Daedalus

Daedalus is the name of the wallet created and implemented by Cardano’s team to hold Cardano’s tokens (ADA). But due to the open-source nature of Daedalus, a user can store any cryptocurrency in it. Daedalus wallet is being constantly upgraded in order to support various cryptocurrencies and to act as a DApp building platform in the future.

The Cardano project has been an ambitious one where its team functions to overcome some of the major difficulties within the current blockchain technology which are;

i. Scalability

ii. Interoperability

iii. Sustainability

The reason why Cardano project was broken down into the abovementioned layers was due to achieving its goals. The two layers of Cardano settlement and Cardano computational is designed to function as a couple but also keep their differences within the system. The technical and business development aspects of Cardano is taken care of by IOHK and, Emurgo and Cardano ecosystem. During the crowdsale, Cardano tokens were distributed to these organizations as well.

Good News for Cardano Community:

The most hyped part of the Cardano project for its community is perhaps the upcoming Shelley release. In preparation for this release, Cardano has opened registrations for participating in staking pools but not all participants will be able to set-up, maintain and run nodes. But Cardano’s team gave good news to its holders that they too can become a slot leader on the ‘Ouroboros’ delegated P-o-S (Proof-of-Stake) consensus. But since it hasn’t been tested or used before hence, Cardano team has to constantly test it before placement. The recent release of wallet updates for the community to use was also a part of the good news. They recently announced their awaited Daedalus wallet compatible with Linux OS.

On 12th April, Cardano released its weekly technical report that can be summarised as follows;

i. Cardano paper wallets are complete and being tested for quality

ii. Work on Exchange endpoints has also finished

iii. Cardano networking is now 33% faster than before and it’ll increase with time

iv. Cardano’s Virtual Machine Test Version ‘IELE-Testnet’ which is slated to be launched in April is close to completion.

Investor Friendly Coin – Cardano

Cardano wasn’t spared during the extreme bearish markets; it fell with the rest of the cryptocurrencies and lost most of its gains from last December. But because of its constant development and upcoming released from its dedicated team, Cardano is still named as one of the most investor-friendly cryptocurrency. Cardano previously shifted its focus from ADA/BTC pairs to ADA/USD pairs because it was the investor’s need of the hour. No other coin has committed such an accommodation.

Their update to paper wallets has spiked interest of people who have seen ledger wallet’s vulnerabilities. At a time when ledger wallet (previously known as the safest wallet) can be hacked by a 15-year-old kid, the decision of shifting to paper wallets guarantees Cardano team’s concern for security.

Conclusion:

Significant crypto funds like BKCM LLC are bullish on Cardano and many others are sure to raise their stakes till the bulls are free. Cardano is currently ranked at 7th place after suffering losses in Q1. But the price indicates an increase of 23.39% since the last 24-hours. With a market capitalization of $5.6 Billion, each ADA token is priced at $0.214. it is evident that Cardano is set to have a successful Q2. In case circumstances surrounding Ethereum doesn’t die down soon, Cardano is more likely to shift the paradigm and take its place.

We will be updating our subscribers as soon as we know more. For the latest on ADA, sign up for our free newsletter!

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 SAB0TEUR via Flickr

Altcoins

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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