Connect with us

Blogs

Updates on Cardano Roadmap: Possible Effects on Its Future

Published

on

Cardano

Since its tokenization on 29th September 2017, Cardano has garnered widespread interest in the crypto-world because of its meteoric rise in terms of total market capitalization. Within a matter of six months, this coin has secured the seventh position on Coinmarketcap and now it seems to be really steady in that position. Taking the recent price surges of this coin into account, many experienced traders and crypto-connoisseurs are speculating that Cardano is about to give a tough time to two cryptocurrency giants Ripple and Ethereum by the end of this year.

When Cardano roadmap was first introduced to the traders across the globe, it intrigued them with the vast range of unique features it was about to offer. So far, this cryptocurrency has not only managed to live up to those promises but also has made considerable upgrades quite frequently to make their official cryptocurrency ADA even more convenient. Among other things, the sole purpose of this IOHK (Input/ Output Hong Kong) backed cryptocurrency is to revolutionize the blockchain system by providing solutions to various existing problems faced by multiple cryptocurrencies.

On 5th April 2018, Cardano officially updated its roadmap by implementing some new features and facilities. Here, those new features along with their probable impact on this currency’s future would be discussed.

Notable Updates:

a. Introduction of Paper Wallets: For a cryptocurrency, introducing a paper wallet for its users is certainly a very innovative idea. In case of cryptocurrencies, everything is virtual starting from software wallets to transactions. As a result, sometimes trading with these currencies become a bit unsafe when a hacking incident takes place. That is why; offline paper wallets would ensure the security of the stored ADA coins for the Cardano holders. These paper wallets would be printable certificates containing the address of their offline wallet. This update is nearly 33% completed at the moment.

b. Introduction of Ledger Wallet: The development team of Cardano is building support for the Ledger Nano S cryptocurrency hardware wallet. The first phase of this update is creating the Cardano application capable of running on the Ledger wallet itself. This new project is about to add further integration with Daedalus, the existing ADA wallet. Once this update is completed, Cardano users would be able to store ADA offline using the secure cold storage process.

c. New Accounting Paradigm: Cardano is about to implement a new accounting model for its different layers. For example, the UTxO style of accounting would be used for the Cardano Settlement Layer (CSL) whereas the Cardano Computation Layer (CCL) would use Ethereum’s account-based style. The Cardano development team is endeavoring to create a mechanism where these two accounting styles would be switched according to the specific requirements of the Cardano users. This new update is 50% completed at the moment.

d. Implementation of Plutus Core: Plutus Core is one of the simplest yet most secure programming languages that are used at the moment. The Cardano team is about to implement this highly efficient language for the computation layer. Plutus Core would also be used in the settlement layer for enabling different verification techniques. This project is currently 12% completed.

e. Development of IELE Virtual Machine VI: This new version of IELE virtual machine would serve as a lower level, uniform platform that is capable of translating higher level languages and executing smart contracts. This updated virtual machine would provide a uniform gas paradigm across all languages. In a nutshell, IELE virtual machine would make writing secure smart contracts much easier. This development is also 50% completed at the moment.

New Features:

Besides these updates mentioned above, the updated Cardano platform would also offer:

  • Cardano user survey for garnering feedback about their previous development updates.
  • Cardano stake pool registration facility in their Shelley Testnet.

Final Thoughts:

Cardano currently holds the seventh position with a market cap of approximately $3.8 billion and individual coin price of $0.147 (as per the data of 6th April 2018). To achieve such popularity among the traders in this highly competitive cryptocurrency world, an ordinary currency would have taken years whereas ADA achieved this feat within a few months.

With the aforementioned updates right in the corner, ADA is likely to exhibit a veritable price surge in the future. Despite the capriciousness of the crypto-market, it can be speculated that with the current trend, Cardano is very likely to lead the cryptocurrency chart by the end of this year.

We will be updating our subscribers as soon as we know more. For the latest on ADA, sign up below!

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 Canned Muffins via Flickr

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

Published

on

Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

Continue Reading

Press Release