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The Future of Cardano (ADA) is Similar to XRP - Global Coin Report
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The Future of Cardano (ADA) is Similar to XRP

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Global Coin Report had earlier anticipated the XRP mega breakout that happened on Friday, 21st of September. All our team had to do, was observe the charts and recognize there was a massive spike in the trade volume of the digital asset right after the announcement that xRapid might go live in the next month or so. There was also the additional interest of the digital asset via social media platforms. The discussions are still evident and include how Ripple solutions in the financial industry, will bring the much-needed blockchain revolution to the banking industry. After seeing the recent success, we decided to take a look at the future of Cardano (ADA).

Cardano (ADA) Plans on Doing the Same Thing

One of the core missions of the Cardano project is to develop a decentralized blockchain and cryptocurrency with smart contract capability, as well as delivering more advanced features than any protocol out there. Cardano has made financial smart contracts simpler through the Marlowe Project.

Marlowe does this by allowing the user to write financial smart contracts by simply visually composing known building blocks. The existing building block toolbox has three categories: observations, contract and the money to be transferred in ADA.

Perhaps Marlow can be used to design very simple smart contracts to power cross-border payments or even peer-to-peer automated payments. Looking at the future of Cardano, the smart contract capability on the Cardano platform could create something similar or better than Ripple’s xRapid.

Catering for the 3 Billion Unbanked Globally

One of the organizations that contribute to the development of Cardano, is IOHK. According to the Cardano website, IOHK is committed to using peer-to-peer innovations to provide financial services to three billion people that don’t have them. Majority of the unbanked reside in emerging countries that are in Africa and Asia. Once Cardano spearheads financial inclusion in these regions, it would have done something far much greater than Ripple is doing by courting the global banks through RippleNet.

One thing that has helped increase the financial development of these emerging markets, is mobile banking that has been spearheaded by services such as MPesa in Kenya. Such services allow anyone with a registered mobile SIM card, to use it as a mobile bank. The owner of the SIM can then proceed to transfer funds through MPesa, as well as securely storing it on the network. The parent company of the service –  Safaricom Limited –  has seen its revenue increase exponentially by simply charging a small convenience fee with each transaction.

If Cardano were to come up with such a service that directly uses ADA, then the sky is the limit for the digital asset. Such a feat would be greater than xRapid and xCurrent combined.

Future of Cardano

It is with the above brief future possibilities of the Cardano project, that we can compare its current value in the markets of $0.09, to that of XRP mid last year. This was when Ripple was finalizing the development of its software solutions of xVia, xRapid and xCurrent. As a matter of fact, the team at Cardano are also finalizing a lot of the back-end functions such as the earlier stated smart contracts.

Observing the circulating supply of both XRP and ADA, the coins in are 39.8 Billion and 25.927 Billion respectively. With a difference in supply of 13.873 Billion, it is clear that once ADA starts to blossom in the market, it could even outperform XRP’s peak value of $3.82 seen back in January.

However, if we consider the Cardano project to being where Ripple was in May 2017, then the project and coin have another 1.5 years to come up with a working product and to propel its adoption in solving real-life problems. Therefore it would be prudent to consider slowly accumulating some ADA religiously on a monthly basis for the next 1 year or so.

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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.

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Top 4 Cryptocurrencies to Bet on in 2019

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The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

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2019 Will Be a Big Year for Luxcore

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With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

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Can XRP Break Out of the Falling Wedge?

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XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the…

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