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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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