The Cardano ADA project has been making major strides amidst the crypto market turmoil that we have been experienced in the last few weeks. Many of the updates have been made public via Twitter, medium, and Reddit, but it is worth reminding ourselves why we love the project. Therefore, let us look into the recent Cardano ADA news.
Numerous Meetups Around the Globe
The Cardano Global community is constantly growing with a lot of meetups being organized across the world. Below is a list of future meetups. Local Cardano community members are encouraged to attend.
- Meetup in Mongolia with Charles Hoskinson – 15th September 2018
- Meetup in Colombia – 26th September 2018
- Meetup in Palo Alto – 26th September 2018
Cardano ADA news featured on Forbes
The Cardano project was featured on Forbes in a post that was published on the 7th of September. In the article by Yoav Vilner, he described Cardano as one of the best-known blockchain projects due to its research-based approach. He also added that the IOHK team differentiates itself by employing a first principles approach that is driven by peer-reviewed academic research to build the platform from the ground up.
September Technical Updates
The Cardano team released the latest version of the Daedalus Wallet that is now available on the Cardano website. The new wallet fixed a lot of networking issues as well as making the loading of the blockchain much faster and from scratch. Daedalus is currently the only wallet that supports ADA.
The project is currently in the Byron phase and the team is making back-end improvements to the code as well as improving the Daedalus wallet. After the Byron phase is complete, the much awaited Shelley phase will commence which is the decentralization of the network.
Existing smart contract models on the Cardano network are still being worked on by IOHK. The team has increased the allocation of resources to enable its team to embark on parallel tracks of research on the smart contracts in terms of fixing the issues seen in Ethereum smart contracts, as well as improving the general foundational design of the contracts.
A voting system is going to be implemented where the community decides on Cardano Improvement Proposals (CIPs). Details of the voting system will be released soon. The prospects of the community voting on project improvements is a sign that the platform is going to be purely decentralized.
Brief Market Analysis
The crypto markets have once again shown us that they are capable of bouncing back after a massive decline that left many of our cryptocurrency portfolios declining by at least 20%. Checking the charts, the King of Crypto, also known as Bitcoin (BTC) has once again risen to levels above $6,500 and at the moment of writing this. Further looking at Ethereum (ETH), the digital asset had scared many of us when it looked like it was losing its mojo when it had depreciated to new lows of $171. ETH is now valued at $207 and up 20.40% in the last 24 hours.
Further going down the list of the top 20 digital assets, we find Cardano (ADA) ranked 10th according to market capitalization. The digital asset is currently up 10.67% in the last 24 hours and is currently trading at $0.070. One can attribute the massive bounce of ADA in the markets as being due to the recent listing on Bittrex.
With the Cardano roadmap constantly evolving and with the prospects of the community voting system, the Cardano project is setting itself up for a bright future in terms of technical advancements and complete decentralization. These two factors will be crucial in propping the price of the digital asset of ADA to new heights.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
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 been…