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How Cardano (ADA) Might Surprise You in 2018

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The Cryptocurrency Market, on the whole, has experienced an exponential growth all-together in 2017, with many new cryptocurrencies coming up and making their presence felt. One of the names that have been doing rounds in crypto-circles around the world is Cardano. At its peak, there were many big things expected of Cardano, which was expected to be among the forerunners of cryptocurrencies in the world. All of that has dramatically changed, however, with Cardano getting badly hit, as a result of an overall slump of the crypto-market.

About Cardano

Currently, Cardano sits in 7thplace in terms of market cap according to coinmarketcap. It has a market cap of $4,428,862,189 USD with a total supply of 31,112,483,745 ADA tokens. The Cardano project’s aim is to deliver smart contracts with advanced features to the industry at large.  It is different than other blockchain related projects, as it is the result of a tireless research-driven approach in the fields of Engineering and research.

Cardano is powered by the Cardano blockchain, which is developed to be compatible with any type of regulations while retaining its decentralized properties. It has experienced massive spikes in price levels quite recently, with Cardano’s market cap jumping from a measly 3,773,633,262 USD in November 29th, 2017 to a massive figure of $31,648,656,464 USD on January 4th, 2018. Such a massive rise in price levels has attracted many investors towards Cardano in recent months. However, it is experiencing quite a slump from its January highs, losing value gradually over the next 2 months. In spite of Cardano’s recent decline, crypto-analysts and industry experts expect it to rise in the near future and have put forward certain reasons as to why.

Reasons For Projected Growth of Cardano

Cardano is a popular cryptocurrency among traders, especially among Asian countries which account for more than 40% of all worldwide Cardano transactions. Although the price has seen a dramatic fall following rumors and fears regarding tight regulations in these regions, it is still expected to rise because of the following factors.

  1. System Improvements and Upgrades: Unlike the majority of cryptocurrencies, Cardano has a very active development team who constantly works to improve the user experience. Cardano is generally a technological platform, aimed at enabling users such as individuals, big organizations, corporations and governmental institutions to run sophisticated financial applications easily. It has a streamlined design that provides it with flexibility and regular soft forks for easy upgrades.
  2. Strong Community: Cardano has a growing community of followers who religiously support the coin and the project even through tough times. Their telegram community number to an excess of 16000 followers with considerable presence in Reddit and Twitter as well. Cryptocurrencies which have a strong community backing perform well with time, with a lesser chance of declining in price levels.
  3. Programming Language: Cardano is based on a new programming language called Haskell. It possesses a high bar of tolerance when fighting against network faults as well as external attacks, a pre-requisite for any good cryptocurrency. Cardano can process a large number of real-time transactions as compared to its peers because of its widespread adaptability as well as flexibility. It has the ability to process almost thousands of transactions in a single second.
  4. Plans for Interledger Transactions: The Cardano developers recently announced plans of developing a  way to enable interledger transactions through high scalability. It is rumored that they are planning to split the Cardano network into smaller divisions to make sharing data in real time, much easier. The new platform is set to use a protocol called Block explorers, which will allow holders to track their transactions in real time.

Closing Thoughts

The cryptocurrency market, on the whole, is still recovering from a massive slump, with many coins failing to reach their peak positions from before. Cardano, of course, has an advantage, as its developers are working towards widespread adoption in the business sector. Many recent events signal a positive growth for Cardano, with Cardano recently been added to the Centra Wallet. This paves the way for widespread adoption and is set to push the price of Cardano for months to come.

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. 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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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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