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What makes Cardano (ADA) blockchain unique?

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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

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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Altcoins

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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