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Cardano [ADA]

Weiss Ratings Slam EOS Centralization Issues, Shifts Proof of Stake (PoS) Focus to Cardano

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The U.S.-based financial investment rating agency, Weiss Ratings, has called out the EOS blockchain on what it believes to be severe problems with centralization. The agency subsequently downgraded the technology score it had previously awarded the EOS blockchain, stating in a recent tweet:

“#EOS has serious problems with centralization, so we’ve severely downgraded its technology score.”

The concerns seem to stem from the power wielded by the EOS Core Arbitration Forum (ECAF), a group set up to help resolve disputes on the EOS blockchain. However, after it was revealed that last year the group ordered EOS’s 21 ‘block producers’ to freeze 27 accounts, questions of over-arching power were raised. An EOS block producer (BP) is an elected core of voters that take the place of miners in a traditional proof-of-work (PoW) blockchain network. Since EOS uses proof-of-stake (PoS) it doesn’t require mining to maintain the network but rather relies on a ‘consensus’, method of verifying blocks.

Since the 2018 election of the networks 21 BP’s there have been several allegations of collusion amongst BP’s. Some say that rather than acting independently to ensure fair voting, several BP’s are banding together in order to force decisions that would mutually benefit them. The ECAF, meant to deal with these issues, itself became mired in controversy, resulting in EOS chief technology officer (CTO) Dan Larimer proposing a new constitution for the EOS network.

The ongoing issues have collectively resulted in Weiss Ratings significantly reducing the EOS decentralization score. It has now instead turned its focus on the Cardano (ADA) blockchain, a fellow proof-of-stake (PoS) network that may offer better decentralization. In the same prior (somewhat tongue-in-cheek) tweet, Weiss Ratings stated:

“It’s now up to #ADA to launch a truly decentralized #PoS #blockchain. No pressure.”

The Cardano blockchain uses a complex proof-of-stake consensus method known as Ouroboros. The method covers several phases and uses a detailed algorithm incorporating multiparty computation, slot leaders, elections and epochs.

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Cardano [ADA]

ADA Price Keeps a Tight Hold on Uptrend; ADA Traders Would Experience a Mixed Day Ahead

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  • Cardano (ADA) escalation gives hope to the intraday traders.
  • The coin might breach 7-day high today.

The market seems to give much-awaited result to the traders today. The crypto market started with dream digits and took the price up for many coins in the market. Cardano (ADA) has been experiencing a mixed week. During the last seven days, there were some great days of profit and some losses too.

Today, the intraday traders can expect profit from Cardano. However, there is also a high possibility for ADA to experiencing selling pressure. Let’s read the chart to understand the momentum of ADA more precisely.

ADA/USD Intraday Price Chart:

The data feed is taken from Bitfinex on 15th September 2019 at 04:06:41 UTC for price analysis.

ADA Price chart

Yesterday, the coin started at $0.0457. Cardano (ADA) fell to 0.0450 from the opening price with a loss of 1.60%. Immediately after falling, the price touched $0.046 with a progression of 4.20%. The day ended at $0.046, with an intraday profit of 1.59%. Today, the day is dealing moderately around $0.46.

Cardano Price Prediction and Conclusion:

Cardano (ADA) is a result-yielding coin in the crypto market. The currency is dealing with an ROI of 114.12%. If we compare yesterday’s volume, which was at $51,690,256 with today’s volume which, is at $52,857,559, we would observe a visible difference.

The counters of ADA are a strong indication of upcoming upsurge. The investment in ADA would help the traders in booking high dividends. The year is likely to close with ADA at $0.080. In the coming time, the price counters might incline and touch $0.1. Altogether, ADA would be a profitable investment for the traders.

The currency is recommended for the traders who have long term investment plan as the short investment in Cardano is likely to be risky.

Source:cryptocurrencynews

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Cardano [ADA]

Bulls Honk the Horn for Cardano; Might Affect Intraday Trading

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Cardano is trying to move upwards, but it looks like that it trades under bear pressure. In the coming time, ADA coin is anticipated to deal with significant momentum. The coin is dealing at the 1,166,766,151 USD Market Cap. The circulating supply of Cardano is at 25,927,070,538 ADA.

ADA to USD Price Comparison

Yesterday, Cardano opened at $0.04540457. ADA price dropped in the opening hours to $0.04501 by 0.86% drop. Further, it picked up the pace and recovered by 1.14%. Cardano price counters changed from $0.04499 to $0.04550. The day closed with another escalation of 1.33%. This time, ADA price shifted from $0.04520 to $0.04580. The intraday progression was of 0.88%. Today, the coin opened with a slight upsurge. Later, ADA price fell tremendously to $0.0450 from $0.0458 by 1.87%. Cardano has yet again started improving and it could take the price up.

Cardano Price
Cardano Chart By TradingView

Cardano Price Prediction

ADA price chart is indicating that coin is currently moving towards the recovery. Yesterday, the coin touched a high at $0.045795 and a low at $0.044963. The volume marked on September 13, 2019, was $38,257,028. However, today, the 24hr volume of Cardano is marked as $40,107,089.

The improvement in the ADA price has given us hope that there could be a slight possibility of an upsurge. The traders are speculated to book huge returns in the future. The year would end around $0.52 in Cardano. As per the current scenario, traders are recommended to diversify the investment in cryptocurrencies to deteriorate the risk.

Source.cryptonewsz.

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Cardano [ADA]

Cardano Stands Tall by Adding 4.5% in One Day

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  • Cardano gains 4.5% in one day and reached $0.048.
  • The next resistance is likely to come at $0.049.

Cardano has shocked the market with a 4.5% hike since yesterday. The current ADA price has again started racing against $0.050. Out of the four swings of the coin, there were gradual hikes.

Cardano Price Statistics-

Cardano (ADA)September 10, 04:54 UTC
Rank11th
ROI (Return on Investment)121.50%
Coin Circulation25,927,070,538 ADA
Market Cap1,242,722,736 USD
Value in USD0.048009 USD
Value in BTC0.00000465 BTC
Yesterday’s Volume64,445,050 USD

ADA to USD Price Comparison-

Cardano Price
Cardano Chart by TradingView

Cardano price gets a blow in terms of its first swing between 00:27 UTC and 07:52 UTC, which took $0.001530 away from the value and placed the coin at $0.045259. This was followed by a hike of 4.35% between 07:52 UTC and 13:39 UTC, this swing added $0.001 to the coin. The third swing happened between 16:45 UTC and 22:46 UTC and this variation placed the coin at $0.046967 by 22:46 UTC. The last swing started at 00:03 UTC today and in the next 4 hours and 46 minutes, the coin added $0.0014 to reach $0.048116.

ADA Price Prediction-

ADA coin is gaining when all other major altcoins are struggling, this proves that Cardano is never prone to sudden fluctuations in the market. The coin may have resistance at $0.049 next. The details of the next resistance and support levels are given below.

Cardano (ADA)Support And Resistance Levels
1st Resistance$0.047594333
2nd Resistance$0.048257667
3rd Resistance$0.049304333
1st Support Level$0.045884333
2nd Support Level$0.044837667
3rd Support Level$0.044174333

Source.cryptonewsz.

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