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Cardano [ADA]’s Charles Hoskinson speaks about his time in Ethereum

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Charles Hoskinson, the Founder of Cardano and the Co-Founder of Ethereum spoke about the inception of Ethereum and his role in the project, during a conversation with Mpho Dadaga.

Charles said that if the team had anticipated that Ethereum would become the second biggest cryptocurrency in the market, then the team would have planned things out. He said that they had realised that they had something very substantial towards the end of the Bitcoin conference in Miami.

He said:

“So, we got Vitalik… his presentation was really swarmed. Like a rock star… he kind of had a second tier speaking slot and he goes on and they only gave him 25 minutes. He says, let me introduce Ethereum. He put this thing on the slide, shows you how you can do master coin and 20 lines of code and then 13 lines of code or something like that”

Charles continued to say:

“And then he [Vitalik] says, any questions? everybody in the room raises their hands. And I felt so bad for the speaker that had to follow them because they had only time for like 3 minutes of questions. So when Vitalik left, everybody just left the room and the speaker comes up there and the room is empty.”

This eventually led to the creation of two groups in the Ethereum team, one being the business group and the other being the technical group. The business group members were Joseph Lubin and Anthony Di Lorio. The technical group members were Vitalik Buterin and Gavin Wood. Charles Hoskinson along with Mihai Alisie managed both the group of Ethereum.

Charles continued to say that in the beginning, they had two options on how to build the project. The first option was to do what Ripple did and have a profit company, venture capital, funding type hierarchy, very disciplined and focused, like a Silicon Valley startup. The second option was to create a non-profit company and issue a crowdfund and use the funds to build the protocol. The team called the options as crypto-Google and crypto-Mozilla.

According to him, the business group of Ethereum preferred the crypto-Google option which was opposed by the technical group because they thought it would compromise the integrity of the project.

However, Charles was concerned that if there was no proper structure then the whole project would probably burn through its capital soon and have a lot of problems. This resulted in a meet up held in the month of June 2014, where Vitalik decided to choose crypto-Mozilla, a non-profit company.

This was followed by Charles leaving the team after some time, after which few other members including Anthony went on their own paths. He said that this was the right decision to make at that time. According to Charles, Ethereum lost almost $9 million out of the $18 million they had raised because of the Bitcoin collapse, which went down from $600 to $250. Furthermore, the team spent the other $9 million in launching their project.

Source:  ambcrypto

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Cardano [ADA]

The Future of Cardano (ADA) is Similar to XRP

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Global Coin Report had earlier anticipated the XRP mega breakoutthat happened on Friday, 21st of September. All our team had to do, was observe the charts and recognize there was a massive spike in the trade volume of the digital asset right after the announcement that xRapid might go livein the next month or so. There was also the additional interest of the digital asset via social media platforms. The discussions are still evident and include how Ripple solutions in the financial industry, will bring the much-needed blockchain revolution to the banking industry. After seeing the recent success, we decided to take a look at the future of Cardano (ADA).

Cardano (ADA) Plans on Doing the Same Thing

One of the core missions of the Cardano project is to develop a decentralized blockchain and cryptocurrency with smart contract capability, as well as delivering more advanced features than any protocol out there. Cardano has made financial smart contracts simpler through the Marlowe Project.

Marlowe does this by allowing the user to write financial smart contracts by simply visually composing known building blocks. The existing building block toolbox has three categories: observations, contract and the money to be transferred in ADA.

Perhaps Marlow can be used to design very simple smart contracts to power cross-border payments or even peer-to-peer automated payments. Looking at the future of Cardano, the smart contract capability on the Cardano platform could create something similar or better than Ripple’s xRapid.

Catering for the 3 Billion Unbanked Globally

One of the organizations that contribute to the development of Cardano, is IOHK. According to the Cardano website, IOHK is committed to using peer-to-peer innovations to provide financial services to three billion people that don’t have them. Majority of the unbanked reside in emerging countries that are in Africa and Asia. Once Cardano spearheads financial inclusion in these regions, it would have done something far much greater than Ripple is doing by courting the global banks through RippleNet.

One thing that has helped increase the financial development of these emerging markets, is mobile banking that has been spearheaded by services such as MPesa in Kenya. Such services allow anyone with a registered mobile SIM card, to use it as a mobile bank. The owner of the SIM can then proceed to transfer funds through MPesa, as well as securely storing it on the network. The parent company of the service –  Safaricom Limited –  has seen its revenue increase exponentially by simply charging a small convenience fee with each transaction.

If Cardano were to come up with such a service that directly uses ADA, then the sky is the limit for the digital asset. Such a feat would be greater than xRapid and xCurrent combined.

Future of Cardano

It is with the above brief future possibilities of the Cardano project, that we can compare its current value in the markets of $0.09, to that of XRP mid last year. This was when Ripple was finalizing the development of its software solutions of xVia, xRapid and xCurrent. As a matter of fact, the team at Cardano are also finalizing a lot of the back-end functions such as the earlier stated smart contracts.

Observing the circulating supply of both XRP and ADA, the coins in are 39.8 Billion and 25.927 Billion respectively. With a difference in supply of 13.873 Billion, it is clear that once ADA starts to blossom in the market, it could even outperform XRP’s peak value of $3.82 seen back in January.

However, if we consider the Cardano project to being where Ripple was in May 2017, then the project and coin have another 1.5 years to come up with a working product and to propel its adoption in solving real-life problems. Therefore it would be prudent to consider slowly accumulating some ADA religiously on a monthly basis for the next 1 year or so.

Source: globalcoinreport

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Cardano [ADA]

Cardano Price – 3 Bullish Predictions for Late 2018

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The Cardano price is on a lot of people’s minds right now. That is only normal, as this particular altcoin has a lot of potential in the eyes of its community. The following three price predictions all paint a very bullish future for Cardano (ADA), although some are a bit more outlandish than others.

Three Cardano Price Predictions:

#3 Beginning of a Reversal

cardano price prediction reversal
Chart: Tradingview

The past few months have not been pleasant for Cardano traders. This is primarily because all cryptocurrencies have dropped in value in spectacular fashion. Even so, Trader botje11 predicted ADA would break out from the bottom formation several weeks ago, and that statement still appears to hold true. The $0.07 – $0.08 range has acted as relatively stable support, and signs of an impending uptrend have become apparent.

As is always the case with charts like these, one has to wonder if this is effectively the breakout Cardano price watchers have been waiting for. Based on the current momentum, ADA can achieve a much higher value. However, it looks like all the positive efforts seem to be pushed down. A lot of accumulation is going on, which may hint at better things to come in due time.

#2 A New All-time High in 2018

cardano price prediction 2
Chart: Tradingview

Looking at the cryptocurrency markets in their current state, it seems rather unlikely new ATHs will be recorded in late 2018. Albeit nothing is impossible in the world of cryptocurrency, one has to keep in mind the current sentiment does not warrant a bullish outlook. Trader CryptoManiac101 is convinced the year 2018 will end with a bang for Cardano.

More specifically, he claims ADA will reach a new all-time high before the year is over. This is based on very “loose” fundamentals, which confirm a downward wedge has been forming for some time now. However, the general trend predicted on this chart may seem rather unlikely, as a push to $1.463 would require a 20-fold increase in value compared to the current Cardano price. It is unlikely, albeit still interesting.

#1 The 10,000% Potential

Cardano Price Prediction HiTech
Chart: Tradingview

A lot of early Cardano investors would love to see his currency hit a value of $11 or more. Having an optimistic view of the market is something HiTech displays comfortably, yet he is also convinced this chart is very realistic.

The majority of this chart appears to be based on the Fibonacci time zone indicator, which means the coming 12 months will be crucial for ADA. As is usually the case with charts like these, the entire prediction will fall apart if Cardano reaches a new low in the coming weeks. If that happens, all bets are off, and this chart will most likely not come to pass. An interesting outlook regardless, as the expectations for ADA have never been more bullish.

Source: nulltx

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Bitcoin

Stellar Surges 19%, Cardano Gains in Sunday’s Best Performing Crypto

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Stellar (XLM) and Cardano (ADA) have performed exceptionally well against Bitcoin over the past 24 hours, recording 19 percent and 8 percent gains against the dominant cryptocurrency.

At its daily peak, XLM achieved a 25 percent price increase against the US dollar, achieving $0.297. Within a period of 48 hours, the price of XLM rose from $0.21 to $0.297, by more than 38 percent.

To mirror Ripple’s three-fold increase in value in the past seven days, Stellar and Cardano will have to increase by more than 30 percent from their current price range, which is unlikely in the short-term.

But, it is important to acknowledge that dissimilar to the short-term rally of XRP, the short-term increase in the price of XLM and ADA were primarily triggered by optimistic technical indicators and price movement, rather than a series of events and announcements.

XLM Rally Was Inevitable

Ever since XLM demonstrated a major break out of a descending trendline dating back to mid-July, it was quite evident that a major rally for XLM was in play. Within four days, from September 19 to 23, the price of XLM nearly doubled from $0.17 to $0.29.

Similar to Ethereum and Ripple, Stellar experienced a steep decline in value from July to September, which was the case for most major cryptocurrencies apart from a few exceptions including Bitcoin, EOS, and Binance Coin (BNB).

As such, when the market demonstrated a short-term trend reversal, massively oversold XLM was first to see a major movement to the upside. As soon as XLM recorded a sudden spike in volume on September 19, its momentum continued to increase, mimicking the short-term trend of Ripple.

Prominent cryptocurrency trader who operates under the alias “Crypto Dog” stated on September 20 “after XRP comes XLM, watch out,” implying that historically, XLM has tended to follow the price trend of Ripple.

Perhaps due to the connection of Ripple co-creator Jed McCaleb to Stellar and conceptual similarities between the two platforms in that they both process cross-border transactions for individuals and institutions, the price trend of XLM and XRP have shown consistent correlation throughout 2018.

Over the past few years, the Stellar network has been utilized by companies including IBM, KlickEx, Deloitte, Parkway Projects, Tempo, Wanxiang Labs and Stripe, which funded $3 million to Stellar in 2015 in its early development phase.

Since then, Stellar has continued to maximize the potential of its blockchain protocol, acquiring Chain to form Interstellar, possibly to collaborate more actively with financial institutions.

In 2014, Chain secured investment from Visa and Citi, working with the two financial institutions to make progress in commercializing and integrating the blockchain in the traditional finance sector.

A combination of Stellar’s similar price movement as XRP, the organization’s acquisition of Chain, and optimistic technical indicators regarding its short-term trend reversal led XLM to surge by a large margin in the past week.

Cardano is Similar

ADA has demonstrated similar movement as the early stage of Ripple and Stellar’s corrective rallies this week. Depending on the volume and momentum of Cardano, in the upcoming days, it is possible for Cardano to experience a major movement on the upside.

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