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How the Recent Developments Would Impact the Future of Cardano and ADA Holders

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Cardano
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Cardano coin (ADA) has been performing very impressively so far with a steady market capitalization since the beginning of this year. The scenario of the overall cryptocurrency market has undergone some pivotal changes over the past few months. Bitcoin, whose popularity was skyrocketing until the end of 2017, suddenly hit a rock bottom when its price plummeted to an alarming figure in January 2018. This incident created a significant amount of doubt among a large portion of traders regarding Bitcoin’s stability in price and consequently, people started to rely on slightly more stable cryptocurrencies that are not influenced by Bitcoin. Also, the slower and expensive transaction of Bitcoin has been a major cause of exasperation among its traders for a long time. That is where Cardano emerged with its new features on October 1, 2017, and has been treated as the most preferable cryptocurrency option by myriads of traders across the globe.

Very few cryptocurrencies maintain an effective communication with their traders with timely developmental updates. Cardano certainly belongs to that group as it publishes its technical developments on a weekly basis. In their latest update, the ADA team has released quite a few technical developments worth mentioning which can effectively alter the future of this currency and its holders. Here, you would find some of the most noteworthy technical developments.

Daedalus Wallet Updates:

Daedalus wallet can certainly be considered as the mainstay of ADA blockchain’s technical paradigm. As a result, the development team takes utmost care in keeping this wallet updated and fully functional for the traders. In the past week, the team had been working indefatigably on the React 16 Upgrade. For this process, ‘context’ and ‘ref’ polyfills have to be successfully implemented in the React-Polymorph library. The upgrading is yet to be completed but it is going at a brisk pace.

Besides this, there had been other significant changes as well such as the refactoring of NPM scripts for using colon style, UI improvement of the ‘receive’ screen, adding Flow checks and Eslint to the Daedalus storybook directory, redirecting logic refinements, and many more.

The Goguen Project:

Fundamental Research:

The Goguen project concerns the ADA smart contracts and their functionality. The Cardano development team has recently launched the KEVM testnet on 28th May 2018, that allows the users to execute smart contracts written through solidity while experimenting. The Goguen project is to be implemented on the Computation Layer of the Cardano blockchain. The fundamental research phase regarding this project is yet to be completed. However, according to the latest weekly update, the overall work on multicurrency, side-chains, and chimeric ledger is nearly done along with implementing various sui generis features of IOHK. The development team is working arduously to design a working prototype which would eventually change the entire Cardano code base.

Virtual Machines and Languages:

The VMs of this project is to be built using the K framework along with formal semantics. The team is also working on enhancing the offering on Smart Contract language based on Haskell. This new language would help in detecting the flaws in the current smart contracts system and rectify them accordingly. The work on developing a language core for this project along with a library is still in progress. Also, the Marlow research by the development team is still on-going.

Updates on Wallet Backend:

During the previous week, the work on new wallet specifications and developments progressed considerably with conspicuous changes in the transaction submission layer of ADA. The team appointed a specialist for improving the wallet backend. So far, the designated member has managed to complete a large portion of the work on transaction fee estimation. The static size estimation functionality had been successfully finished and the addition of correctness tests is still in process.

As far as the other updates of wallet backend are concerned, the implementation of the Transport Layer Security for the server side is yet to be completed. The newly appointed member also reviewed the first version of Daedalus wallet’s Coq formalization last week.

Other Notable Updates:

Cardano team has managed to upgrade their networking system significantly last week with making considerable progress in deserialization, block syncing, and routing table maintenance for peer discovery.

Current Scenario of Cardano and Speculation:

The announcement of Goguen Project and launching of KEVM testnet has managed to create an impetus in Cardano’s price chart. As of 6th June 2018, this currency holds the seventh position on Coinmarketcap with a market cap of $5.6 billion (approximately) and a price equivalent to nearly $0.21. According to the speculators, this uptrend is likely to continue for the next few months at least until the completion of the Goguen Project.

Final Thoughts:

Cardano is one of the most stable coins that you can currently find in the market and with the aforementioned updates. The entire blockchain system of ADA is likely to be ameliorated in terms of functionality, efficiency, and security. The coin has already managed to acquire a place among the top ten cryptocurrencies within a few months. So, it would be safe to assume that these recent updates are about to make a positive impact on the future of ADA holders.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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