According to reports, Cardano has entered a collaborative process with Konfidio. The Zug-based Cardano Foundation made the announcement on August 15. The platform revealed that it had entered a strategic partnership with the Berlin-based Blockchain firm, Konfidio. This is yet another milestone for the Cardano Blockchain as it pushes for more adoption and use cases.
Cardano (ADA) Price Today – ADA / USD
What we know About Both Firms
Concerning the two firms involved in the accord, the development of Cardano’s platform is actually determined by the below organizations:
- The Cardano Foundation: this arm is responsible for overseeing the development of Cardano itself and its ecosystem. It also oversees the protection and promotion of Cardano, along with advocating on for users and the Cardano community.
- Input Output HK (IOHK): this arm holds the responsibility of designing and building the Cardano platform.
- Emurgo: this is the for-profit arm of the Cardano Foundation. Its responsibility involves working to improve Cardano’s ecosystem by means of commercial initiatives.
All in all, the primary responsibilities of the Cardano Foundation include driving the adoption of Cardano itself, growing the global Cardano community, shaping legislation and commercial standards for the network, making sure of stakeholder accountability, and pushing for strategic partnerships.
As for Konfidio, Cardano’s new strategic partner, the company was founded in 2016. Konfidio is Berlin-based firm. It is a Germany based Blockchain expert. Hence, Konfidio can be described as:
- A Blockchain accelerator solution which is known as KAP.
- A Blockchain venture studio that has ventures ranging from decentralized energy platforms to micro-insurance to platforms. Both or all of which are using the Kstack-based technology in house”
What you need to know about the Partnership
Speaking via a blog post that was published on August 15, 2019, Bakyt Azimkanov, who serves as Cardano’s Communications and Marketing Director, said that the primary purpose of the new partnership between Konfidio and Cardano is “to integrate Blockchain models with corporations.
It is also to push for Blockchain technology in SMEs (small and medium enterprises) and governments.”
Furthermore, the Cardano executive said the Cardano Foundation is hoping that this new partnership will focus on only real-world business cases that affect the “banking, logistics, and trade as well as pharmaceutical industries. Azimkanov claims the remaining options, that is the government and public service options for use cases will follow.”
Another Cardano executive also weighed in on the latest development with the network and Konfidio. The Chairperson of the Cardano Foundation, Nathan Kaiser, had this to say on the matter:
“Cardano’s new strategic partnership with Konfidio shows that we have now made another tangible step towards the promotion and advocacy of Cardano. More importantly, this accord will ensure that we drive the real-life use cases of Cardano. Konfidio’s base, Berlin, remains a major Blockchain center around the globe. Its worldwide relevance will assist us in putting the spotlight on the Cardano platform. The collaboration will also give the Cardano Foundation increased visibility in Europe. Especially in countries like Germany.”
Dr. Mervyn G. Maistry, Konfidio’s Co-Founder and CEO stated:
“After researching the Turing-complete Blockchain’s, we agree that the third generation Blockchain of Cardano should be best-placed to make sure of stability and the business continuity of real-life models. We are working to ensure that this strategic partnership with Cardano will help push for the development of Cardano-based applications”.
Cardano’s Shelley mainnet could include Ledger integration, reveals team
Cardano network’s implementation has been pretty successful, with the ecosystem led by Charles Hoskinson all set to launch the incentivized testnet for Shelley which involves real incentives in the form of staking and delegation rewards to stir participation. CEO of IOHK, Hoskinson had previously revealed that the testnet had received “remarkable participation as the network currently runs about 100 stake pools and the stake pool channel consists of about 2,400 people.” The testnet went live in the second half of June this year.
While responding to a question on Reddit, on whether staking will be available through Yoroi with HW wallets, the moderator of r/Cardano, ‘kao0112,’ stated that while Ledger, Trezor and any other hardware wallet would work at this stage, the EMURGO team was been looking forward to enabling the same on the Shelley mainnet. kao0112 alluded,
“The Ledger integration takes some time which means that it wouldn’t/ won’t be ready before the snapshot. Ledger integration should definitely be available for Shelley mainnet.”
Talking about the new version of Daedalus/Yoroi on Shelley, the moderator added,
“The current flavors of Daedalus and Yoroi will be exclusive to mainnet [byron] and eventually Shelley, when it’s upgraded in mainnet. There are going to be new flavors for Daedalus and Yoroi exclusive for the Rewards testnet.”
Besides, the team had previously explained that ADA on hardware wallets can be transferred to either Daedalus or Yoroi wallets, before the snapshot. Users can return the tokens to cold storage after the completion of the snapshot. The ADA token on the testnet won’t be spendable, which means that ADA does not exit the network. The tokens earned by staking or delegating can be deployed on the mainnet. The rewards earned by the user in the testnet won’t be pulled into the mainnet automatically, and the team has been working towards a mechanism wherein the users will be able to manually move their rewards.
Cardano Exhibits Loss for the Intraday Traders
The crypto market has stepped in the last quarter of the year. The previous quarter was quite devastating for the investors as the entire market dropped including big forces like Bitcoin, Ethereum, Ripple, etc. Cardano also fell due to the heavy pullback and now, the traders rely on the ongoing quarter. The market is quite volatile but still, the coins have been making moderate profi with moderate volatility.
However, the uptrend might let loose in the future and the coin could be seen facing losses. The change in the trend is highly anticipated. Let’s have a look at the price chart.
ADA to USD Price Chart:
Last month began with a trading price of $0.045. The price immediately jumped to $0.047 by 5.16%. Later, the price fell, but soon escalated and took the price to $0.048 by 10.41%. A major escalation took place that hiked the price to $0.055 by 24.94% just to slip to $0.035 by 36.88% and the month closed around $0.039 by 11.64%. The ongoing month experienced uptrend around October 10, 2019. The price touched $0.043 from $0.037 by 15.45%. The current price is at $0.0402. The support level 1 has already been breached and observes the next support near $0.0399.
Cardano price exhibited recovery a few days ago, but there is again a downtrend indicated. The indications are that the coin would be seen hovering around $0.040 for some time. The improvement is expected to take place within some time.
For now the resistance levels and support levels are calculated as follows:
Cardano is anticipated to escalate after a short while. The traders can dig-in with a prospect of upsurge. The traders are suggested to opt for short-term investment to earn a colossal profit.
Cardano News Today – Top Headline for ADA
- Cardano’s Team Recently Unveiled Information About the Incentivized Testnet Generating Staking Platform to the Network
- Benefits of the Testnet
Quite a few of the Cardano team held an AMA session to reveal the company’s plans and present status about the launching of the Shelley incentivized testnet. The senior product manager of Cardano, David Desser, the company’s DevOps engineer Sam Leathers, Jormungander testnet product manager Dynal Patel, education team leader Alejandro Garcia and Jormungander engineer Nicolas Di Prima,
The Cardano blockchain clocked its second year this month, two years of broad research leading to the launch of a testnet for the new era of its development. As per the report by Esser, Cardano has been soaring high in the last few weeks, the network execution of Jormungander, the node that carries out the protocol that administers Cardano, supposedly got a good response from the community, which according to Esser influenced the development of Cardano.
The Cardano network is ready to launch the incentivized testnet for Shelley, whose testnet went viral in the second half of June. An incentivized testnet employs real incentives in the shape of staking and delegation profits to bring in participation, unlike the traditional testnet which is a closed-off sandbox environment. Esser reported that in Shelley’s incentivized testnet, the company will be able to see how game theory and profits are gotten by actual people on the network.
Added Benefits of the Testnet
During the live session of AMA, several users were interested in the benefits attached to the testnet. Esser was able to give vivid answers to all the questions, he also went further to explain that the whole snapshot of Cardano blockchain will be booked to regulate the number of users and the number of ADA on it.
Cardano (ADA) Price Today – ADA / USD
The testnet will permit users who save their ADA on hardware wallet to transfer their funds to either Daedalus or Yoroi wallets before the snapshot and then return them to cold storage after the snapshot is completed. This process will allow users who want to engage in the testnet to have all of the ADA they have in real life copied in the testnet.
The education team leader of Cardano, Alejandro Garcia stated that they were working on creating a repository for aid questions on Zendesk. Currently, Cardano is ranking 12th by market cap, the market value is up at 0.09% over the past 24 hours, and ADA has a market cap of $1.07 billion with a 24 hours volume of $42.39 million.