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What makes Cardano (ADA) blockchain unique?

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Cardano

Most blockchains that are open source love it when they develop so quickly due to the open source nature. However, this nature as well can work against them as it exposes them to frauds and scams copying their codes for similar product production.

Many coins available on the market have got their ways and methods of keeping their creativity and originality safe. As much as all of them have their ideas, Cardano (ADA) has always remained the unique blockchain among them all. In fact, right from its arrival in September 2017, it has been resistant to scams.

How come Cardano (ADA) is different?

The following are some of Cardano features that make it stand out from the rest, at the very best:

  1. The Haskell programming language

Mostly when people are used to something, whenever a change is anticipated or rather made, there have to be lots of questions. That is the same case with Cardano as recently similar to most of the community members, one (@roughcam) asked why Cardano was written in Haskell.

Basically, Haskell is a computer programming language using complex mathematical logic in coding — that then makes the language not same like the others. There are a lot of cryptographic codes that distribute protocols building Cardano, which need extreme degree fault tolerance structure.

With Haskell, quick lead times are guaranteed with shorter code lines and growing libraries which allow application development using the language.

  1. Governance by ADA holders

Indeed, the development process of the platform is essential for every blockchain. Most of them, however, have given all the development responsibility to a team of individuals only, which means the holder gets no opportunity in the development of the cryptocurrency.

This is a unique part when it comes to Cardano (ADA); as it lets the token holders take part in the governance of the blockchain. What it does is that it allows token holders propose any upgrades to the system to ADA library. Thereafter, the holders get to vote on the same proposed changes, and if many are for it, then the modification and updates are implemented.

Nevertheless, it is the case only when it comes to Cardano (ADA).

  1. Daedalus Wallet

The Daedalus wallet is a highly secure platform built by use of advanced cryptography to keep all your coins safe. However, recently Cardano released a beta version that is based on IOHK platform, and the Linux version will be released later.

Subsequently, Daedalus holds a stronger advantage against the other crypto wallets because of its ease of download as well as use. Also, the platform doesn’t contain private keys and offers an unlimited number of the wallets (yet another thing that many out there do not provide) for easy management of the funds.

Where does Cardano (ADA) stand as of now

There has been a positive growth for Cardano since the announcement of the addition of two trading pairs to it by Binance, one of the most influential and most prominent crypto exchange. The records have been high as it even touched a $0.3 mark before dropping again to $0.29 throughout the last weekend.

Last week, on Tuesday, it traded a volume of $730 million witnessing its highest for a day since January, and according to the market cap, Cardano ranks at position 7. Consequently, as it is clear from the points covered above, Cardano (ADA) is unique as compared to the rest (at least many) — and this unique nature of Cardano will not only protect the coin from frauds and scams but will more likely keep fueling its growth, too.

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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.

Image courtesy of Éole Wind via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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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…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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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…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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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…

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