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Cardano Technical Update: How Is It Going to Affect ADA’s Future?

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Cardano

In this highly competitive cryptocurrency market, maintaining a stable price range and reasonably high market capitalization has become seriously challenging in the past few months. Due to the volatility and drastic falls in the price of Bitcoin, the cryptocurrency with the highest market capitalization till date, a great percentage of cryptocurrency traders are losing their faith in Bitcoin and inclining towards other alternatives or Altcoins. The Altcoins that are currently leading the currency charts are in fierce competition among themselves to make further sustainable ameliorations in their blockchain platform. Cardano along with its default cryptocurrency ADA certainly belongs to this group of digital coins.

Since its introduction to the crypto-traders on 29th September 2017, this cryptocurrency has been the cynosure of the cryptocurrency market due to its unique blockchain platform and corresponding features. It was the first cryptocurrency to implement the highly efficient proof-of-stake algorithm named Ouroboros. Also, the two different layers of Cardano’s blockchain platform, CSL (Cardano Settlement Layer) and CCL (Cardano Computation Layer) add to its efficiency and swift transaction system.

Despite already possessing a highly sophisticated blockchain platform, ADA’s development team are constantly implementing new features for the traders’ convenience. On 19th April of this year, Cardano team published a report of their weekly technical updates which have been completed successfully. Here, some of those developments would be discussed along with their probable effect on Cardano’s future.

Technical Developments Completed Recently:

Core Updates: The Cardano team has been able to make considerable improvements in their core architecture through their recent technical developments. In addition to finalizing the test coverage for the initial fallout and V1 API, the team has been able to resolve all issues and tasks cognate to CSL-2398 which is an integration test and a part of the Continuous Integration process. At the current rate of progression, the implementation of the “fees included” option to the transaction endpoints of CSL-2405 is also going to be completed shortly. Furthermore, the Cardano team has made significant progress so far regarding the documentation of the additional API use cases.

Daedalus Updates: It is well known to the ADA users that Daedalus is the default wallet provided by Cardano blockchain itself for storing ADA coins. This wallet has been very popular with its users for its both online and offline accessibility and security. During last week, Cardano’s development team successfully implemented the asynchronous wallet restoration feature for the users’ convenience. This new feature is likely to offer several advantages to the ADA holders. Also, other features for adding more wallets and monitoring certain transactions would be implemented along with this new version of Daedalus wallet. These major UI changes are likely to make ADA even more accessible and user-friendly to the traders.

Wallet Backend Updates: Besides upgrading the Daedalus wallet, the development team has made conspicuous changes in the wallet backend as well as new and ingenious features. The pre-existing sections of the wallet backend namely the history tracking section and the transaction submission layer section have been re-engineered to add more precision and accuracy to the entire system. In addition to these developments, significant progress has been made so far on the CSL-2382 project which concerns the implementation of pure data layer for passive wallets. This updating process is likely to continue over the next few weeks as well as the development team has documented a migration plan for future.

Networking Updates: Application and verification of blocks are invariably a time consuming and intricate process which requires serious concentration. Cardano’s development team has made remarkable progress in simplifying this process through their latest networking update. The team has successfully implemented the ’serializedSize’ calculation procedure to the Bi class which would make the computation of the serialized size of the blocks a lot easier.

Cardano Decentralisation Update: Although this phase is yet to complete, the last week ADA developers have been able to make a significant number of changes regarding various aspects of decentralization including delegation, incentives, networking, and core specification. Once all of these upgrades are completed, the efficiency of Cardano’s blockchain platform would transform pivotally.        

DevOps Updates: The release of 1.2.0 Cardano branch and 0.10.0 Daedalus branch being around the corner, the team is continuously going through the process of debugging the system. As a part of this process, the development team has switched the default branches of Daedalus and Cardano-SL form master to develop. This will certainly improve the developer experience on Github along with community visibility.

The Current State of ADA:

ADA, the default cryptocurrency of Cardano, has been exhibiting a constant upward trend since its inception. Currently, this digital coin holds the seventh position on Coinmarketcap with a price equivalent to nearly $0.3 and a market cap of $7.7 billion (as of 24th April 2018).

Final Thoughts:

Cardano is one of the most sought-after cryptocurrencies to the novice and experienced traders at the moment. Not too long ago, Binance announced a new BNB/ADA trading pair that instantly caused a price surge. With these recent technical developments, the traders can expect a significant number of new features and benefits while using this coin. If this trend continues, ADA is likely to topple many big guns of the crypto-world by the end of this year.

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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.

Image courtesy of Anthony Easton via Flickr

Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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