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Cardano [ADA]

Cardano’s Hoskinson claims Hydra protocol is 5 times faster than Ethereum

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The Cardano ecosystem has been in full swing development mode after the success of the incentivized testnet. As it approaches the Shelley mainnet launch, the focus has mostly been on network stability and other improvements.

In a more recent update, the CEO of IOHK, Charles Hoskinson, revealed that the next-generation protocol on Shelley, dubbed, ‘Hydra,’ should be ready for its first paper sometime in February this year. Elaborating on the same, Hoskinson claimed that the protocol is at least five times faster than that of Ethereum. He said,

“[Hydra] This protocol is quite good. There is a lot more room for improvement but we feel can dram

atically accelerate Orobouros from where we are currently sitting, which is already on, even a conservative estimate, at least five times faster than what’s Ethereum is at its peak efficiency and this is without aggressice optimization.”

David Esser, Cardano’s Senior Project Manager at IOHK, had previously told a media outlet that Hydra’s development was almost complete. The protocol would essentially ensure that users can “run multiple versions of the consensus algorithm in parallel.”

In order for Cardano to be a successful platform for smart contracts, one of the most important properties, according to Hoskinson, is that it should have a “good multi-asset standard.” Much like Ethereum which has ERC-20, ERC-721, and security token standards, the exec said that the Cardano ecosystem should also have a “competitive offering” for those who wish to issue assets.

The IOHK exec had previously commented that Cardano needs to have “three crucial things,” namely, commercialization, incentives, and technology, in order for it to “displace” Bitcoin from its number one spot.

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Cardano [ADA]

Latest News and Top Headline for Cardano ADA, January 26th, 2020

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  • Cardano’s CEO reveals partnership with EU Confederation
  • Cardano Price Analysis – ADA price rally

The CEO of IOHK, Charles Hoskinson, the development company behind the decentralized public blockchain Cardano, states that his team is working with a confederation in the European Union to discuss the use case for distributed ledger technology. The team’s effort is geared towards one of the biggest tech trends in 2020 as companies and the government continue to discover DLT-based technologies, like blockchain. According to Cardano News Update, Hoskinson reveals to his 115,500 Twitter followers that research paper describing the findings will be released to the public this summer.

Cardano (ADA) Price Today – ADA / USD

NamePrice
Cardano$0.0440.766%

Cardano News – The confederation, named Privilege, got there funding from the EU’s Horizon 2020 research and innovation program. It aims to discuss the issue of privacy akin to the mainstream adoption of DLT. Commenting on this, the team went thus:

“Although based on cryptographic techniques at their core, the currently deployed DLTs do not address privacy…New cryptographic techniques and protocols are therefore needed to protect the data, facilitate these applications, and make DLTs deliver on their promises.”

The confederation members include Eindhoven University of Technology, Guardtime, the University of Salerno, IBM, the University of Edinburgh, the University of Tartu, GUNET, Smartmatic-Cybernetica Centre of Excellence for Internet Voting OÜ, GRNET, and Input-Output Research (IOHK).

Cardano Price Analysis – Cardano Price Analysis – ADA price rally

Cardano’s latest

update – ADA coin had shown an intraday price recovery after smashing the low at $0.0411. The positive intraday move has influenced the ADA coin to gain medium-term support from the 50-day MA, trailed by the short-term support from 10-day MA. Unlike other altcoins in the market, ADA coin has shown an increase in momentum and is likely to persist as detected from the current ADA price recovery made. ADA price is likely to establish the next higher high in continuation of the trend witnessed if it persists with the same price momentum.

Cardano News Update – going by the 3-hourly 25-day movement, the ADA/USD pair has been encouraging a steady increment since the beginning of the year 2020. The forming uptrend relapse as ADA price faced a decline when the BTC decreased after making a new 30-day high. this uptrend drove ADA price to break-through the key resistance levels at $0.0438, $0.0459, and $0.0468.

Cardano News Today – the 20-day Bollinger Bands positioned along the price trend are facing a modest bandwidth leading to no volatility in the forthcoming days. Moreover, the ADA coin is supported by the 20-day Bollinger Band at $0.0436. Besides, while the ADA price hit around $0.046, it indicated a headway of over 21% from the ADA trading price of $0.0386.

The technical indicators also affirm the intraday movement as the MACD line cuts through the signal line from below suppressing a bullish variance. The RSI of ADA is currently at 48.82 and it is observed surging away from the key support at 30.

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Cardano [ADA]

Cardano’s latest Shelley Incentivized Testnet update focuses on stability

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The Cardano team has been working hard on maintaining and improving the Shelley Incentivized Testnet. As part of their newly established community outreach program, the company said it introduced a new version of the Jormungandr Node, v.0.8.7, to reduce technical debt and ensure a more stable network.

Network stability remains the number one priority for Shelley

The immense success the Shelley Incentivized Testnet has seen since its November launch has pushed the company to improve its communication. Last month, Charles Hoskinson, the CEO of IOHK, said that the team working on the incentivized testnet will begin issuing weekly updates about the state of the network to stay in touch with the community.

As part of that effort, the project manager for the Shelley Incentivized testnet issued this week’s report, revealing what the team has been struggling with. In a YouTube video, Dimitris Poulopoulos said that the network stability still remains the number one priority.

According to him, major improvements in the testnet were already seen with last week’s release of version 0.8.6, as many members of the community reacted positively to the update. This week’s release, Poulopoulos said, is aimed to improve things further with a new version of the Jormungandr Node—v0.8.7.

The release contains network improvements that should both reduce technical debt and ensure a more stable network, he added.

Bootstrap issues resolved, degraded performance
improved, congestion relieved

“With this release, we are expecting improvements to the overall connections management,” Poulopoulos said in the video.

He explained that oversubscribed nodes will now always have room to open a new connection, while idle connections will be recycled more aggressively. This, he said, should relieve some of the congestion observed in trusted peers.

Apart from that, several other performance issues regarding node overload have been resolved by sanitizing internal locking. Some dependency updates have also been made in the latest release, with some parts rewritten in standard Rust programming language.

The addition of the new p2p.max_connections_threshold configuration parameter will reserve more room for block propagating connections. While this is just a tactical fix, further improvements will be made in the future, he explained. Synchronous locks won’t be getting mixed in with asynchronous network code anymore, which is expected to mitigate the spikes that preceded instances when Stake Pools get stuck.

While a lot has been done to patch up some of the problems the incentivized testnet has seen this past week, Poulopoulos said that more issues will be addressed in the next update. Improving Jormungandr stability will be the main focus throughout the month, he added.

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Cardano [ADA]

Latest News and Top Headline for Cardano ADA, January 25th, 2020

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  • Cardano new member shares the need for a strategy toward aiding adoption
  • Additional hire to the Cardano team

The new addition to the Cardano team Tamara Haasen, claims that enhancing communication with the Cardano community is the organization’s primary aim. Tamara Haasen is IOHK’s chief of staff and one of the recent members to join the Cardano foundation. Haasen stated that time is very important in this industry and that Ripple needs to be able to communicate effectively its core value plans to everyone.

Cardano (ADA) Price Today – ADA / USD

NamePrice
Cardano$0.0442.77%

Cardano News Update – Cardano has always been bashed for its slow rate at which they roll out updates and development to its ecosystem. Recently, Cardano has picked up momentum and is one of the fastest-growing and most worked on blockchain project in the crypto sphere.

With the new updates being incorporated on a daily and weekly basis released to every project ranging from the Shelley Incentivized Cardano testnet to the Daedalus and Yoroi wallets. Cardano testnet seems to be on a roll. Moreover, with the pace at which Cardano is going, the only problem might be ensuring its development does not outshine its coin adoption.

The Cardano foundation is an independent body based in Switzerland, the foundation

has been tasked with aiding the adoption of Cardano’s native token ADA. The Cardano foundation’s main objective is to establish a good infrastructure for the solid community they already have. So far, Cardano has all the resources needed to become famous.

Cardano News – in a recent interview with the Cardano Foundation’s communications directors Bakyt Azimkanov, Haasen stated that the foundation was not a rigid body whose words come last. She explained that its goal is to bring transparency to the Cardano community. She stated that her aim of joining the foundation’s council is to find a plan that would unite all of the different ideas of its members into a concrete strategic plan.

Additional hire to the Cardano team

According to Haasen, her first course of action will be investigating further into the council’s aim. She went thus:

“Defining the council is very important—what are its parameters, its remits, its responsibilities, and who should be on the council.”

She added that the Cardano foundation is in need of a “social media person” that can speak to different corridors. With a different strategic tactic for Twitter, LinkedIn, Facebook, and other social media networks. According to Haasen, Cardano needs an expert that can spread its message effortlessly. She stated: “Cardano is a platform for everybody.”

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