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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:

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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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Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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