Besides from making positive moves when it comes to its value in the market, Cardano (ADA) and the team behind this currency have been working on some pretty significant improvements. It is already a commonly known fact, while especially familiar to those who are following up with Cardano, that the team behind ADA proclaimed a long time ago that they are aiming at creating a digital platform to support ADA, while creating it in a way that would enable it to become the most secure asset of all. They just made a move towards making that happen.
Cardano and Security Improvements
Cardano (ADA) makes up as the seventh-best currency, although it has been holding the 6thspot on the global coin ranking list for quite some time now. However, having Litecoin pushed down to the sixth spot by EOS made ADA move to trading as the seventh-best cryptocurrency.
On the bright side, Cardano is still considered to be among the top 3 most valuable platforms when it comes to operating with and deploying decentralized apps.
Having ADA being traded among the top 10 cryptos didn’t stop the dev team behind this currency from working on further improvements, and that is precisely how Cardano just got even more secure.
Apparently, the ADA team has been manipulating with the Proof-of-Stake algorithm in a way that made all the present problems with security, finally resolved. The team behind this clever manipulation is known as IOHK team, so Charles Hoskinson posted a tweet on this matter on April 26th, stating that “Of all the papers IOHK Research has written, this one is the most significant. It’s a major advancement for Proof of Stake … now PoS has nearly identical properties to PoW.”
How come this case is so significant for ADA?
The answer is pretty simple if you know what Proof-of-Work and Proof-of-Stake stand for. So, now that the IOHK team has made this improvement, their PoS is now more similar to PoW. This is an amazing addition to Cardano’s system, as while Proof-of-Stake has a more scalable nature when compared to PoW, but PoW has more to it thanks to its security. That means that Cardano (ADA) now has the best of both protocols, which will most certainly contribute to a more secure platform with lots of room for further improvements thanks to the scalability behind Proof-of-Stake protocol.
Cardano is made in Haskell, which is a programming language commonly used for analyzing data and programming apps for business purposes, which means that the platform is naturally the most suitable for organizational and financial applications.
Since Cardano is focused on creating one of the biggest platforms for deploying and programming decentralized apps for multiple purposes at the ultimate scalability and maximal security, ADA is competing with big platforms like NEO and Ethereum.
One is for certain, after improving their Proof-of-Stake protocol; ADA is getting more on its popularity as per Google’s report showing that ADA has been trending up in searches ever since the team made this improvement.
Cardano and the Market
Ranked as the 7th best crypto, and hopefully getting back to its old spot as the sixth-best currency, Cardano has been doing pretty well during the past month. However, we can now see ADA trading in the red while dropping against the dollar while it is following g up with the latest market trend.
It is not difficult to notice that the majority of coins are going down with the most recently established market trend that took place a couple of days ago after the massive rebound most of the coins had only a week before.
Cardano (ADA) did pretty well in the last 30 days, given the fact that ADA collected a set of gains of 120% against the dollar during April, while it managed to earn around 52% against the dollar in the last two months.
However, we can see it dropping by -3.8% during the last seven days, while it is also trading in the red at the moment of this writing, on May 8th.
Following the latest change in the market, ADA is going down against the dollar for additional -2.29% against the dollar.
On the bright side, Cardano is going up while trading in the green when compared to BTC, going against this crypto by a minor rise of 0.17%, which means that ADA is doing slightly better than Bitcoin at this moment.
After the most recent change, Cardano (ADA) can be traded at the price of 0.32$ per one unit of ADA.
Cardano News Today – Cardano ADA Loses Bullish Push After Days
- Cardano ADA’s price has slackened by 7.27% during the past 24 hours
- The price of Cardano may fall to the $0.057715 support area
- The Cardano ADA price has no support from the short-term daily MA’s
Cardano news Today – The price of ADA has been less impressive in the last 24 hours. This is after the market situation changed from bullish to bearish. The overall grim state of the digital asset market appears to have impacted the price movement of Cardano. In the past 24 hours pf trade, the digital currency has lost some ground. The price of Cardano has lost around 7.27%. Its value has slipped from the $0.064111 area to the $0.059445 position which was its price at press time. There is no imminent recovery movement going by the current trend. Let’s see how this issue with ADA happened.
Cardano (ADA) Price Today – ADA / USD
Cardano Price Prediction: ADA Opened Trade Today at $0.064111
The ADA coin opened trading for the day at the $0.064111 area. During the initial three hours plus, the price of ADA posted a 4.52% increase which took its price to $0.067006 which has now become the highest point for today since trade began. From this high price position, the price of Cardano started to trade downwards. It eventually fell to the $0.05669 area at 16:53 UTC. In the last 13 hours and 22 minutes before it completed 24 hours, ADA faced a steep fall which made it lose 15.39% in value before it moved down to the $0.056691 area. After ADA registered this steep movement, its next action was followed by a brief price recovery which added 11.02% to the coin’s value. The price position that the coin reached was at $0.062937. In the next two hours, the price of Cardano coin dropped by 5.29% falling to the $0.059621 area.
The Price of Cardano ADA is Trading at $0.059445 as of Press Time
Cardano News Today – The price of ADA at press time stands at $0.059445. This price point was the end product of a drop of 7.72% for the coin in the last 24 hours. The price of Cardano is now lagging behind its 50-day moving average at $0.060386 and its 20-day moving average of $0.060029 (indicating a 1.55% and 0.97% drop in value respectively). In the coming days, it appears ADA may still struggle as experts don’t see any good prospects for the coin. As per the ADA technical indicators, the coin’s price is set to cross the support position of $0.057715 in the coming hours. After which it will start trading further below. Investors should not expect any huge price recovery for ADA in the short-term.
Cardano Research Lab Opened At Wyoming University By IOHK
- Cardano has just established a research centre at the University of Wyoming after making a $500,000 donation made completely in ADA.
- With this, it will promote the companies academic approach to blockchain development and engineering.
The lead development firm for the Cardano blockchain has just established a research centre at the University of Wyoming after making a $500,000 donation made completely in ADA cryptocurrency. It was announced at the end of last week by IOHK that the new research and authentication centre would form part of the Universities Blockchain Research and Development Lab. With this, it will help further the companies academic approach to blockchain development.
The centre is going to feature a new Plutus development facility which will provide developers of blockchain with an applied lab for writing code in the smart contract language of Cardano. On top of this, tools and resources will be used to experiment with new solutions. Furthermore, there will be a design studio for a new hardware tool which will help authentication and fighting counterfeit apps in the cryptocurrency.
The CEO and founder of IOHK, Charles Hoskinson has explained all in a recent ask me anything session:
“This is a very applied laboratory, where instead of doing peer theory, we’re actually building real-life things and writing real software that will enter production very quickly.”
The founder went to the ceremony that marked the opening of the research lab in Wyoming state. The butterfly logo for IOHK is going to be added to the lab which will be at the very centre of the future work IOHK has with the livestock traceability platform, BeefChain.
On top of this, the collaboration with the University will see IOHK receive a $500,000 grant in ADA tokens which will help fund and develop projects into new blockchain applications. This includes things like traceability tools.
Cardano could be soon embraced by high-tech Silicon Valley
The decentralized public blockchain and cryptocurrency project, Cardano could be embraced by the high tech capital of the world, Silicon Valley very soon. This was revealed by Charles Hoskinson, the CEO, and Co-founder of software company IOHK in his latest AMA session.
Hoskinson revealed that there have been talks about the same with Emurgo and added that very soon Cardano ecosystem will be in a position to start a dialogue. According to the executive, this should begin before or when Goguen phase arrives.
“When Goguen hits or shortly before Goguen, I think that is our time to go and really aggressively push things on Silicon Valley. Silicon Valley has a unique and lukewarm relationship with cryptocurrencies. They like building things, likes doing creative new things.”
He further added that after the inception of Bitcoin, they made their own platform which led a whole wave of new ventures some of which are based in Silicon Valley. But to have a strong presence in the valley, Hoskinson said,
“.. you need to teach people how to deploy solutions on our platform and the burden is upon us to have great developer experience and for that infrastructure to help developers get to their solutions.”
Once these two goals are achieved, Hoskinson asserted that it’s going to be easy for the foundation to evangelize not just in Silicon Valley but also evangelize in places like New York City, London, and Tokyo
Silicon valley’s tryst with the crypto space
From Twitter’s Jack Dorsey to Tesla’s Elon Musk, many Silicon Valley prodigies have been inspired by Bitcoin’s bull run in 2017. While Silicon Valley-based social media giant Facebook’s did try to dip its toes in the space with the announcement of Libra, it mostly attracted bad press.
Moving from Bitcoin, it will be really interesting to see how Silicon Valley embraces Cardano’s technology and its innovation.
Notably, Hoskinson had previously stated that the partnership with PwC is critical for its commercial alignment in a bid to generate a new commercial strategy to introduce Cardano to the enterprise world.