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Updates on Cardano Roadmap: Possible Effects on Its Future

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Cardano
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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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