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How Cardano plans to dominate global industries with Blockchain technology
It has only been a couple of months since the launch of Cardano yet this distributed computing platform has a lot more to show in terms of platform developments, partnerships, and leadership than most of the top coins. Granted, the heavy hitters on CoinMarketCap boast of high trading volume with almost double the market capitalization that Cardano’s ADA possesses. However, Cardano’s future looks way brighter considering the moves that IOHK is making to advance the project.
What you should know about Cardano
To the uninitiated, Cardano’s development is backed by a total of three organizations. The Cardano foundation which is an independent Switzerland based organization built to support the Cardano community, while streamlining regulatory and commercial issues. The next organization is IOHK. This is a research and development entity that specifically focuses on cryptocurrencies and is currently under a contract to develop the Cardano Blockchain up until 2020. Additionally, Cardano is also supported by Emurgo. This here is a venture capitalist firm that supports entities built on top of Cardano’s Blockchain.
Cardano’s partnerships in Africa
After a signed MOU between the Ethiopian government and IOHK last month, it has become evident that the vision for Cardano, according to Charles Hoskinson (CEO at IOHK), is to “drive financial inclusion on the continent”.
Furthermore, the Cardano foundation recently posted on Twitter indicating that it believes in a vision for Blockchain in Africa. To this regard, IOHK is currently helping accelerate the adoption of Blockchain technology by training and hiring local programmers and software developers in a bid to develop Blockchain solutions for a variety of industries.
In Ethiopia alone, about 100 programmers have already been added to the program to assist Ethiopia’s ministry of science and technology to achieve long-term deployment of Blockchain technology in various industries including agriculture. The same program has been replicated in Barbados where about 70% of trained Haskell programmers will get a chance to work with IOHK and build the future of Cardano. IOHK has also ventured in Rwanda where Cardano’s Blockchain is being implemented towards the realization of a trustless and incorruptible land registry system built on Blockchain technology.
Testnets and the backing of quality leadership
IOHK has also been at work in the past few weeks, launching testnets such as the KEVM testnet that will establish a first of its kind smart contracts based on Ethereum’s Virtual Machine (EVM). In addition, IOHK is also building bridges with other cryptocurrencies such as ZenCash to build the next level privacy-centric cryptocurrencies.
With these and more developments, it’s easy to see that Cardano is one of the smartest projects in the crypto space. The project is backed by a large team of expert academics and doctorates, and it’s led by Hoskinson who is a competent Blockchain expert. Furthermore, the fact that Hoskinson was also a co-founder at Ethereum with Vitalik Buterin means he brings a lot of experience to the table. Who knows? Cardano might just outperform its peers eventually.
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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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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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