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Will Cardano (ADA) live up to the hype around it?

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Cardano ADA

Cardano (ADA) is one of the top cryptocurrencies in the crypto sphere. At the time of writing, Cardano is priced at $0.162 and is the 8th largest cryptocurrency by market capitalization. Cardano is a long-term project (has a real-life use and incredible purpose), and there is a big hype around it at the moment, but can it live up to it?

So, Cardano (ADA) is a long-term project that’s not fully completed yet. In the last 48 hours, the cryptocurrency fell short from $0.171 to $0.168. Cardano had an all-time high of about $1.12, but since then, even with other cryptocurrencies market, all we have seen so far is a huge dip (but still it has resisted quite well, and the dip has been because of the continuous fall of the crypto market in recent times).

Reasons why Cardano may or may not live up to the hype

One of the big things to know if a cryptocurrency will work out or not is the team behind it. As we all know, Cardano (ADA) has a futuristic team behind it. It has three organizations backing it and the IOHK – with Charles Hoskinson as the CEO. Hoskinson is an ambitious CEO, and he knows the strings to pull together to make Cardano a great cryptocurrency in the future.

He has also announced some of the things that are going on with Cardano at the moment. Cardano has two aims: to have a real-world use case, and also to do multiple things. Cardano (ADA) doesn’t want to be monotonous – instead, they are trying to get their hands on various things into their cryptocurrency that investors will need like the Smart Contracts, decentralized applications, and a platform that builds great apps that will be used in real life.

Moving forward, it is necessary to know that Cardano was built in layers to ensure scalability and upgrading. We do know that scalability is one thing that needs to be ensured by a cryptocurrency network. If scalability is not ensured, there may be a fall-off in the system as a result of a high rise in demand on the network. Admittedly, Cardano has made sure their platform is scalable enough.

Cardano’s completed and upcoming projects

Cardano’s roadmap is forthcoming in the next seven days – in one week, we should see more upcoming and completed projects. Here are some of the recent accomplishments by Cardano (ADA).

  • Cardano’s SL MainNet has been Launched
  • Enhancements are constantly made to increase the performance rate of its exchange partners
  • Paper wallets
  • Faster wallet restoration and synchronization
  • TestNet Launched

There are other things Cardano is still working on – throughout the Q2 and Q3, the future of Shelley will be released, starting with delegation and a stake pool TestNests, and Duncan Counts; the open Ouroboros delegation implementation; Multisignature transactions; wallet backend; consensus incentives and fees; light client support; human friendly addresses.

Some ending words

Cardano is also working on Sidechains, which will help its platform to be more scalable. There also are lots of other projects coming up as far as Cardano (ADA) is concerned.

If all these projects get implemented on their platform successfully, then, it indeed can live up to the hype around it. The team behind it is excellent, and we shouldn’t be surprised if Cardano becomes one of the top 3 cryptocurrencies in the crypto sphere soon.

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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 Maxpixel.net

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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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…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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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…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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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…

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