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Here is how Cardano (ADA) can outclass Ethereum

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Cardano Ethereum
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As the second most significant virtual currency in the market, Ethereum is a leading platform for ICOs and decentralized apps (dApps). But in recent times, Cardano has been making headways, threatening to take over the top position in the cryptocurrency ladder. But does Cardano (ADA) have any advantages over Ethereum? What makes Cardano special? Can it overthrow Ethereum anytime soon? Let’s find that all in this post.

The science behind Cardano

Like Ethereum, Cardano is a smart contract network that uses a layered architecture to focus on security. Cardano boasts to be the first blockchain project to be built on peer-reviewed hypothetical research and developed from a logical philosophy.

Cardano is used for sending and receiving virtual coinage and is home to the Ada virtual currency. This digital currency speaks to the fate of physical money, influencing plausible swift and easy to coordinate exchanges that are secure using cryptography.

Cardano (ADA) is more than a virtual currency; it is an innovative platform that is good for running monetary apps in the current world that’s utilized by individuals, associations, and governments all around the world every day.

Cardano was founded by the co-founder of Ethereum, Charles Hoskinson to provide a more balanced and sustainable environment for virtual currencies. According to their webpage, ADA is the only digital token that has a research-driven approach, meaning Cardano is the only open-source blockchain that undergoes a severe peer-review process by programmers and scientists in academia.

Advantages Cardano (ADA) has over Ethereum

There is no argument on Cardano’s digital currency, ADA, can bring about significant improvements in the cryptocurrency sphere. However, Ethereum, one of the most popular currencies in the crypto ecosystem, is standing on the way of Cardano reaching its goal.

Some of the advantages Cardano has over Ethereum includes Ada’s Salient Attributes. These attributes consist of:

Cardano’s two-layer network system: Cardano as a blockchain, comes with the two-layer system namely the Cardano Computer layer (CCL) and Cardano Settlement layer (CSL). The importance of these important layers is that they allow the platform to present a means through which changes can be made on the blockchain without the need for a fork as it is the norm with Ethereum and Bitcoin.

Security: Cardano operates on a proof-of-stake algorithm known as the Ourobus protocol that attributes better blockchain security in comparison to the protocol Ethereum uses. Additionally, Cardano is developed by a more secure programming language known as Haskel.

The Cardano (ADA) wallet: Cardano uses the crypto celebrated Daedalus wallet that offers secure storage for investors digital tokens and also offers friendly support that allows cross chain wallet settlements that incorporates Debit cards among other developments in their operations.

How will Cardano overthrow Ethereum?

Cardano’s Founder, Hoskinson, has had a relevant historical background and association with Ethereum being one of the original members who founded the powerful digital coin. With his knowledge on Ethereum’s blockchain operability, he went ahead to develop Ada to be more superior and effective than its nemesis.

During a Q/A session hosted by Google in London, Cardano’s founder presented a straightforward introduction and functionality of the 8th biggest crypto explaining its Ouroboros algorithm. IOHK’s media release after the session might not have mentioned any partnership’s in the offing, but analysts are reading more through the lines and are predicting Google’s partnership with Cardano (ADA) to replace Ethereum as the preferred smart contracts system provider.

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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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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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SonicX
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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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