The future of any cryptocurrency is as uncertain and subjected to change as is its price on the current market. However, this is not good enough for investors, since they need to be able to estimate whether or not the coin is worthy of investing.
Cardano (ADA) is one of the coins that has received a lot of attention this year. It made a lot of progress despite the constantly bearish 2018. Of course, its price is still pretty low compared to other crypto world champions. However, it probably won’t remain so low forever. So, what is there in the future of Cardano?
A bit about Cardano (ADA)
Similarly to Ethereum, Cardano is a platform that specializes in decentralized apps and smart contracts. Its native crypto is ADA, a coin valued at $0.077132, according to CoinMarketCap, which is currently holding the 9th place on CMC’s list.
Despite the fact that it is trying to do the same, or at the very least similar, thing as Ethereum, the two differ quite a bit, upon closer inspection. Cardano is a much younger coin, with its technology being massively improved. Cardano, like many other coins, aims to be the leader of the third generation of the blockchain.
The coin was developed by Charles Hoskinson, who came up with a concept for ADA back in 2015. However, the coin was only launched in 2017. In the meantime, Hoskinson dedicated himself to creating a professional team, perfecting the coin’s concept and technology, and alike. Cardano’s way was always slower, but that was fine, as long as the coin did what it aimed to do properly.
The future of Cardano
Cardano is a coin with a lot of goals, some of which may seem a bit too ambitious at first glance. It aims to unite everyone under one blockchain, and even make it the first $1 trillion economy, according to Hoskinson’s statement a few months back.
Additionally, Cardano’s leaders have been intrigued by how bad the situation in Africa is. Their goal is to use the blockchain technology and help African countries become more organized, cheaper, and more stable than current systems. While these plans were explored in depth back in February, Cardano Foundation’s Twitter page has recently reminded the community of these plans.
There is tremendous potential for blockchain technology to solve issues in the developing world. Read the latest on Cardano's vision for Africa on the Cardano Forum: https://t.co/IYRPufr6r8
— Cardano Foundation (@CardanoStiftung) September 8, 2018
This, of course, means that ADA is not scraping their goal to help developing countries in Africa. Only that doing so will require a lot of time, effort, and patience. However, if successful, this will make the future of Cardano quite bright in Africa. Not a lot of coins is planning on conquering African crypto market, and certainly not a lot of those that are as capable and well thought-out as Cardano is.
If Cardano manages to establish itself in Africa, this will be a game-changing move, for the coin, as well as the involved countries. Of course, the company’s goal is to help, but the consequences of its expansion cannot be overlooked. In the meanwhile, Cardano continues to struggle in the once again bearish market, like the rest of digital coins.
Despite the current environment, Cardano still remains one of the most balanced coins, with the smallest price oscillations. In the meanwhile, Cardano continues its own development, with constantly bringing up new updates. These updates continue to fix even the smallest issues, making Cardano one of the best coins around.
Finally, according to Hoskinson’s recent video, Cardano’s TestNet 1.4 is also coming soon, with its release being scheduled for October of this year. In the same video, Hoskinson also claims that the team has made a lot of progress with Icarus as well and that they are quite happy with the results.
Obviously, the future of Cardano seems bright enough, even though it might require a lot of work and effort. Cardano continues to develop and advance and has become a pretty safe investment at this point.
For the latest cryptocurrency news, join our Telegram!
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.
Image courtesy of Pexels
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…