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Getting Acquainted With Cardano (ADA) And Understanding Why It Is In The Top 10



Cardano (ADA)

There is a new heavy hitter in the cryptocurrency arena and it is known as Cardano or ADA that has just gotten into the top ten list of cryptocurrencies that are ranked based on market capitalization.

The altcoin’s website describes Cardano as a cryptocurrency as well as a platform that will allow governments, organizations, and individuals from all over the world to run financial applications efficiently and in a secure manner. The website further adds that the platform is being developed in layers so as to offer ease of maintenance as well as flexibility. The idea is that ADA will be operated on a settlement layer once it is complete and that the platform will also feature a separate computing layer through which smart contracts will be handled.

The Cardano platform is the first blockchain based on a scientific philosophy and this could be one of the factors that have contributed to its growing popularity. The ADA cryptocurrency was ranked 9th place in the top ten list at the beginning of December. However, it is currently sitting at 6th place thanks to its recent surge with its price hitting a new all-time high at $0.57 on Sunday. The price has since then retreated to sub $0.5 prices.

It looks like the digital currency has gotten the attention of the crypto community following the recent surge. Recent publications suggest that ADA is focused on accessibility and scalability and that its primary objective is mass adoption. The reveal that its technology will also focus on smart contracts is quite attractive for the market. This is a coin that is not well known in the market but it seems to have gotten off to a good start. The surge in Bitcoin about a week ago also led to a rise in the value of ADA by about 300 percent within the same period of time. However, it has not gotten to that point yet as most of those features including the smart contract features are still under development.

The altcoin might have managed to make its way to the top ten, but it has also aroused a lot of criticism. There is speculation that the surging prices might be the result of a price pump to artificially inflate ADA’s market cap. As stated, this is just speculation and it is thus not clear whether the performance of the cryptocurrency is genuine or not. If the speculators are correct, then Cardano might be off the top ten list as fast as it jumped on. It remains to be seen whether the altcoin will prove itself to be one of the greats, earning a spot among the likes of genuine cryptocurrency giants such as Bitcoin and Ethereum.

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

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Image courtesy of Sam Churchill via Flickr


My Crypto Heroes Announces Issuance of MCH Governance Token



Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving



Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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