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What has Cardano (ADA) been doing in the past few days?

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Cardano
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Daedalus, the highly secure wallet developed for ADA, plans to incorporate other cryptocurrencies and along with Cardano become blockchain application platform and an app store. The team of Cardano has already completed QA tasks for the upcoming launch of Daedalus 0.10.0 with Cardano 1.2.0.

Last week saw the “expansion of the Ada redemption feature with support for redeeming Ada with the certificates from the recovery service.” The Daedalus update makes way for the addition of two new tabs to the Ada redemption screen—“Recovery-regular” and “Recovery-force vended”. The process has been completed and the code is currently being reviewed. The team has already finalized the execution of test coverage enhancements of the React-Polymorph library.

Transport Layer Security (TLS) and Wallet Backend

Last week, other than conducting server side Transport Layer Security check, the team had sewn up all the strings of the story and again merged the branch with the latest developing branch. The code is currently being processed by the team and also needs to go through final checks. The team is also working on adding certain features and developing the new wallet. The weekly report (published 24th May 2018) of Cardano states that preliminary work has been done on choosing a feasible existent solution. Talks are also about the implementation of a tailored key-value storage for transaction metadata. But, at the moment it is not yet possible to merge the pull request due to certain Continuous Integration (CI) issues. Currently, the development team is working on it with the assistance of DevOps. At the same time, the developers are also working on the issues regarding submitting transactions to the network.

A part of the developing team has covered the unit tests, completed the upcoming UTxO specifications, and translated the “rollback invariants to Haskell”. The team has worked hand in hand with a specialist regarding the formalization of the Coq specifics. There have also been improvements on the wallet data migration front. Migration code has been written down and tests have also been conducted.

Another update for the Cardano network is that all the tests regarding API have been completed and 1.2 version is ready for release. Currently, the team is focused on improving the wallet’s error handling process.

Peer Discovery Implementation

Some security issues were discovered last week and the team has successfully solved them. According to the team, there has been good progress on Peer Discovery Implementation. The routing table maintenance task is also being looked into.

DevOps

DevOps constant efforts in making CI systems more transparent will hopefully result in much more productive CI resolutions in the near future. DevOps is also concentrated on the established conventions for issue reporting and tracking. From the weekly report posted on the official website of Cardano, “The team fixed several classes of build issues, including bypassing a new optional Daedalus development environment feature which broke builds, and overcoming a linker size limit by statically linking macOS builds.”

DevOps connected with the wallet developers to detect the cause behind the formation of the bug that stood as a wall in front of the Daedalus and Cardano 1.2 release. A number of experiments and tests led to the root of the problem- a small type change. The solution was thus implemented and DevOps resynced it into the Daedalus release branch. Now, it is ready to be tested from the user’s point of view.

DevOps has also identified and tracked operational details such that there are no issues after the KEVM testnet launch. Deployment process has also been monitored. For Cardano testnet, tests have been executed for Daedalus multiple times that also relate to different clusters and developing the faucet.

Goguen

The fundamental research for the Goguen project has reached an advanced stage. Now, the team is involved in discussing sidechains, multi-currency and chimeric ledger such that it can be seamlessly integrated into the Cardano Core platform. The first testnet of Goguen will enable the smart contract developers to execute their Solidity contracts on the KEVM. The weekly technical report describes it as “a formal semantics implementation of the Ethereum Virtual Machine (EVM) using the K framework.”

Community Interaction

IOHK Education Department and project managers have decided to create videos and PowerPoint presentations such that the community comes to know what the Cardano team is working on. The team is looking forward to releasing a PM monthly update video to the community by the end of the month.

Price Analysis

The historical data table of Cardano (ADA) from coinmarketcap.com shows that there have been some remnants of the bearish effect of the cryptocurrency market in the first quarter of 2018. However, there has not been massive fluctuations as seen from the price. At the time of writing, according to coinmarketcap.com, the price of ADA shows $0.190 USD (4.52%) approximately. The market cap shows approximately $4,928,943,526 USD and the volume (24h) is above $102,000,000 USD. (As of 29th May 2018) Cardano (ADA) stands at the 7th position now.

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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

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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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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