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Cardano [ADA]

Charles Hoskinson Says Cardano’s 1.6 Update Will Take Off in a Few Days

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In a tweet on August 13, 2019, Charles Hoskinson, CEO of Input-Output Hong Kong (IOHK) said the 1.6 Cardano update would take off in a few days. Hoskinson also revealed a lot of work went into releasing the new Daedalus ADA wallet. Cardano’s community, on the other hand, has shown excitement over the news of the impending update.

Cardano’s 1.6 Update Scheduled to Take Off

According to Charles Hoskinson, Cardano’s 1.6 update will be live within a matter of days. The CEO also asked the Cardano community to send screenshots of Daedalus, a hierarchical deterministic (HD) cryptocurrency wallet for storing ADA, Cardano’s virtual currency.

Furthermore, Hoskinson revealed that a lot of work had been put into the new Daedalus ADA Wallet. He also said he is proud of the IOHK team that had strived to bring about the wallet’s release.

Cardano Community Expresses Excitement Over Impending Update

On the other hand, the majority of crypto enthusiasts who made comments on Hoskinson’s tweet applauded the impending new release of Cardano. While some specifically encouraged the CEO’s and team’s efforts in delivering quality, others

asked if this version will be a significant improvement over version 1.5.

Cardano 1.5, on the other hand, was released in March this year. According to IOHK in ablog post on March 22, 2019, it marked the beginning of a shift from the Cardano Byron era to the Shelley era. The blockchain company added that in Cardano 1.4, the last major work that was meant for the Byron code base was completed. However, in 1.5, only changes that would aid the smooth transition to Shelley were made.

A lot of news has emerged from IOHK of recent. An instance is Charles Hoskinson’sannouncement on June 17, 2019, that IOHK has signed an MOU with the Georgian government. According to the CEO, the agreement will enable IOHK to create the latest credential verification system using Atala and Cardano for the Georgia country.

ADA, Cardano’s virtual asset is currently priced at $0.052 and has gained 2.42% within the past 24 hours despite the decline in Bitcoin’s price.

Nonetheless, the crypto asset’s market capitalization is valued at $1.3 billion today, which is a significant decline from its $2.4 billion as of June 2019. ADA market cap’s drop has displaced it as the 11th largest crypto asset to the 12th position.

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Cardano [ADA]

Cardano’s Testnet Debuts with 17% Ada Supply Staked

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Cardano’s incentivized testnet went live with promising results. Holders already staked 5.4 billion Ada, representing 17% of the coin supply. IOHK also announced that over 120 staking pools went online during the first day of operation, well on its way to its 1,000 pool target.

Although some of the leading pools are operated by IOHK itself, several independent pools are also topping the charts at PoolTool.

This is a good sign for Cardano, which is designed to achieve decentralization by supporting a large number of staking pools. Cardano’s roadmap suggests that the blockchain’s incentivized staking system will “reach equilibrium” at 1,000 pools, meaning the project is on its way to meeting that target.

Staking by the Numbers

Based on data from PoolTool, Cardano holders have already staked about 5.4 billion ADA ($200 million), representing 17% of Cardano’s coin supply. If this level of participation continues, staking participants could earn more than 10% per year, according to Cardano’s profit calculator. However, fees and pool

specs will affect returns as well.

Although modest overall, Cardano’s 17% staking ratio is an impressive start. One recent Binance report suggests that TRON and Qtum have similar ratios. However, other blockchains like Tezos have much higher ratios that extend above 70%. High ratios are not necessarily an economic advantage, but they do point toward greater participation.

Mainnet Staking Ahead

Cardano’s incentivized testnet was preceded by two snapshots in November, and those who participated were allowed to start staking this week. Those snapshots have concluded, so it is no longer possible to join the incentivized testnet, but Cardano will introduce staking to all users when its Shelley mainnet goes live in early 2020.

It remains to be seen whether the the Shelley mainnet will increase participation. Though the mainnet’s accessibility should attract more users, it is possible that the novelty of staking will wear off in the meantime. The next several weeks should demonstrate whether Cardano’s pool count and staking ratio are sustainable in the long run.

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Cardano News Today – Top Headline for Cardano ADA December 10th, 2019

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  • Petition against Cardano Founder to cancel planned MMA fight with Crypto-YouTuber Chico Crypto
  • Cardano community skeptical about the proposed MMA fight between Cardano founder and crypto-YouTuber Chico Crypto

The co-founder of Ethereum (ETH) and maker of Cardano (ADA) Charles Hoskinson is supposed to have an MMA fight with the prominent crypto-related YouTuber Chico Crypto. Although, some members of the Cardano community do not seem to buy the idea of him going move forward with this MMA Fight.

Sharing his view on this proposed fight, a member of the Cardano community with the user name “adam241091” on Reddit stated that the fight that Cardano founder Charles Hoskinson wants to involve himself in is “the worst Cardano related news” he has ever seen. He further added that this is even worse than the delays the Cardano team is having on their projects.

In his post which he titled “Petition for Charles Hoskinson to cancel this ‘MMA fight’” as the fight according to him would affect the trust in Cardano negatively, the whole project and in Charles Hoskinson himself.

Still, on the subject matter, the Redditor stated: “As it was written in another Reddit post, just when Shelley is finally about to be deployed and Cardano to go decentralized and proof of stake ready,

credibility and attention start to flow, this MMA story is a nightmare for Cardano.”

Cardano community skeptical about the proposed MMA fight between Cardano founder and crypto-YouTuber Chico Crypto

The Cardano team is working effortlessly to release the Shelley testnet and the incentivized testnet for its users. This has been a major step for the Cardano supporters and for the whole project that was in a growing stage since it was declared a few years ago. Besides, according to the Redditor, the decision by Charles Hoskinson to fight Chico Crypto has made him lose trust in the whole ecosystem.

Cardano (ADA) Price Today – ADA / USD

NamePrice
Cardano$0.037-3.59%

Thus far, the post has 73 upvotes in just a few hours with over 800 comments from several users. Adam241091 further stated that Hoskinson is at liberty to do what he wants as an individual but he will not be projecting a good image by exposing the while Cardano projects while doing so.

Adam241091 even suggested to Mr. Hoskinson that if he wants to set a challenge to recuperate his energy, he could as well just run a marathon with a t-shirt with a Cardano logo on it. He states that a fight with a YouTuber is a no-no. According to him, his post on Reddit is a petition for Charles Hoskinson to cancel the fight for the good of Cardano.

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Cardano News Today – Top Headline for Cardano ADA December 9th, 2019

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  • Charles Hoskinson to fight ChicoCrypto a Crypto-Youtuber in MMA Match for Charity
  • Fight reward to be shared to St. Judes Children’s Hospital

Prominent YouTuber ChicoCrypto and Cardano founder Charles Hoskinson may be in the ring soon for an MMA match. The proposed fight will be to raise funds for St. Judes Children’s Hospital. In an astonishing turn of event, we may be seeing the first MMA match between two prominent figures in the cryptocurrency world.

Jason Appleton (@jasonappleton) has planned a fighting match between YouTuber ChicoCrypto and Cardano (ADA) Founder, Ch

arles Hoskinson. The sole aim of the boxing match is to raise money for St. Judes Children’s Hospital. The proposed fight started as a joke which is gradually seeming to become a reality.

Cardano (ADA) Price Today – ADA / USD

NamePrice
Cardano$0.038-0.39%

Taking to his Twitter page, he went thus: “Ladies and Gentlemen, @ChicoCrypto has agreed to fight @IOHK_Charles in August of 2020 in an exhibition MMA match in Cincinnati, OH. No purse. Profits will go to St. Judes Children’s Hospital. Let the training begin! Fighters, please sign in the comments. Agreed?”

Responding to the Tweet, Hoskinson stated with a resounding yes to the proposed fight stating that: “Just landed in Vegas, let’s raise a million for the kids.” Hoskinson appears to be ready and looking forward to the fight for a good cause.

Fight reward to be shared to St. Judes Children’s Hospital

ChicoCrypto has also asserted his intent to go through with the fight. The confirmation was made public when ChicoCrypto confirmed to his viewer his intention of going through with the fight during his live stream on YouTube. The fight is slated for August 2020, giving both parties ample time to prepare. The proposed fight between the Cardano founder and ChicoCrypto has encouraged others to envisage other leaders in the cryptocurrency world going head-to-head for a good cause.

Commenting on this, @JackofAltcoins states that there are some fights in the cryptocurrency world that many people would pay to see. Responding to @jasonappleton’s tweet, @JackofAltcoins stated that: The fight card should be:@IOHK_Charles vs @ChicoCrypto @ProfFaustus vs @cz_binance @justinsuntron vs @jaredctate @rogerkver vs @[email protected] vs @bytemaster7 @RichardHeartWin vs @ToneVays @CalvinAyre vs @PeterMcCormack.”

The same way some people are thrilled about the news, some are triggered. A particular user with the handle @MrTicketTaker states that he is not thrilled about the news and hopes it dies down soon. He went thus: “I hope this whole thing dies. I don’t look forward to hearing about this for the next 9 months while I sift through the latest ADA news. I hope you both just agree to let this die and donate to whatever charity.”

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