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Cardano (ADA) Will Have a Chance If Ethereum (ETH) Screws Up

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  • ADA Attitude Towards Criticism
  • Cardano Vs. Ethereum
  • Twitter Handle DII Cases of ADA as the Best of Both Worlds

Cardano (ADA) will conquer the crypto world. It’s a fact. Evidence-based it is, and wonderful it is. He probably will have his own bull run after everything is live and running.  Several investors are extremely bullish on Cardano, but it’s never smart to speak in certainties. Nobody knows for sure.

Attitude Towards Criticism:  Also, it is important to not pay too much attention to the unwilling or ignorant, because it can be all negative, and the energy can be wasted. It is important to keep one’s head among friends and positive people.  They’ll keep you sane and healthy.

Cardano Vs. Ethereum:  Every week for the past few Cardano is doubling the project commits of Ethereum.  It just looks like the principle of “Do Your Own Research” doesn’t apply to all.  And it is very easier to unleash nonsense.

Marketing is crucial in the competitive cryptocurrency space. Cardano is way behind Ethereum. And, ADA may still have a chance if ETH screws up. This is a lot like what happened with Search engines in the late 90s.

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However, not all agree about the marketing thing.  There are thousands of examples in history about the advertisement time to market, and the timing process did not give an advantage. Some notable examples cited my community members and critics who are watching the market are ATARI in the gaming console space, IBM in the pc space, AOL in the email/browser space, MySpace, the list goes on.

So, marketing timing and advertising might not always bring the needed success.

Twitter handle DII Cases of ADA as the best of both words:  $BTC primary value is its brand name $ADA can absorb its value into its network, similar to a Wrapped Bitcoin on $ETH that makes up 7.6 billion in value. $ADA uses a similar UTXO transaction model as $BTC called UTXO, which means $ADA is the best of both worlds $ETH + $BTC.

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There are some limitations to the Bitcoins UTXO model when working with more complex transactions with smart contracts. But there are advantages to the UTXO, like tracking transactions or enhancing privacy. This is why Cardano is using an extended UTXO model.

With Ethereum, the computational layer and accounting layer are merged together. With Cardano, it separates these two layers into Computational Layer and Settlement Layer. In the future, smart contracts will reside in the Computational Layer, which will allow for more flexibility.

Having these two layers separated, Cardano can avoid major forks of its code. Not to mention the hard fork combinator, which already makes any changes to the network smooth sailing. Cardano’s consensus algorithm Ouroboros is mathematically proven secure as long as 51% of the stake.

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Being held is by honest participants, which rewards participants of the Proof of stake system randomly with blocks. Ouroboros protocol rewards pool operators or delegators staking their ADA by doing either of these two things. It’s actually pretty cool getting two blocks on my Pool with just 35,000 Ada staked. That’s about 1500 ADA for me and my delegators, within 30 epochs. Ergo will use the same UTXO transaction model as Cardano. The two are meant to be fully compatible with each other. ADA bring Proof of stake & ERGO being Proof of work.

Some smart contracts may need the security of POW to run. For example, if the smart contract controls a large control of stake, the Proof of work system can help better secure it from bad actors. ERGO will help open the Cardano network to blockchains like SQL Solana in the Future. In closing to this thread. Bitcoin is a great brand, but terrible for the environment. I see it being completely absorbed by the Cardano network / ecosystem. Cardano /Ergo are great projects and investments the future is very bright with the collaboration between the two.

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Breaking: COTI Will Issue Djed Stablecoin on Cardano

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  • Cardano founder declared that COTI will be the official issuer of its new stablecoin.
  • Charles Hoskinson said this during the Cardano Summit.
  • It is said that the Djed stablecoin leverages smart contracts to ensure price stability.

The founder of Cardano (ADA), Charles Hoskinson, revealed in the Cardano Summit that COTI will be the official issuer of its new stablecoin based on the Djed stablecoin protocol.

Presently, Cardano is one of the world’s largest blockchain platforms. For the fast-growing Cardano ecosystem, the new stablecoin is a timely venture. In detail, the Djed stablecoin protocol leverages smart contracts to ensure price stability. What’s more, its smart contract programming mechanism also guarantees that the stablecoin will work effectively for decentralized finance (DeFi) transactions.

On the other hand, COTI is an all-encompassing “finance on the blockchain” ecosystem. It is designed to meet the needs of both centralized and decentralized finance. COTI assures this by “giving a new type of DAG-based base protocol and an infrastructure that is scalable, fast, private, inclusive, and low-cost, and optimized for finance.”

CEO at COTI Group, Shahaf Bar-Geffen, stated:

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The stablecoin ecosystem has matured tremendously over the past few years. Blockchain participants are using stablecoins to engage in everyday transactions because they allow monetary value to be exchanged in a seamless manner, regardless of the sender and recipient’s location. I believe that adding the Djed-based stablecoin to the Cardano blockchain will significantly improve how transactions are settled on the platform.

Furthermore, the Djed operates by maintaining a reserve of base coins. More so, it also lets users mint and burn both stablecoins and reserve coins. According to its creators, there are ongoing discussions regarding the implementation of Djed on Cardano — providing stablecoins in which Cardano’s network usage (transaction) fees could be paid through the “Babel fees”.

Finally, Charles Hoskinson, who’s also the CEO of IOHK — the driving force behind the Cardano platform, mentioned that: “The Djed stablecoin could be a game changer in the crypto space, appealing to an entirely new audience at a time when the industry is already experiencing astronomical growth. Djed shares our commitment to formal verification, proving a robust method of combating the price volatility of crypto markets. COTI has been a long time partner of the Cardano ecosystem, it’s great to have them on board with this new venture.”

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Cardano ($ADA) Announces New Stablecoin Issuer, Hoskinson Calls it Game-Changer

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Cardano ($ADA) blockchain is fast moving towards building its own decentralized ecosystem after the successful integration of smart contracts via Alonzo hardfork. During the ongoing Cardano Summit 2021, founder Charles Hoskinson announced COTI would be the official stablecoin issuer on the Cardano blockchain that would issue Djed stablecoins.

Hoskinson believes the new kind of Djed stablecoins could change the stablecoin game especially at a time when the demand is at the peak and regulatory scrutiny is also at its highest. Hoskinson said,

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“The Djed stablecoin could be a game-changer in the crypto space, appealing to an entirely new audience at a time when the industry is already experiencing astronomical growth. Djed shares our commitment to formal verification, proving a robust method of combating the price volatility of crypto markets. COTI has been a long-time partner of the Cardano ecosystem, it’s great to have them on board with this new venture.”

What are Djed Stabelcoin?

Djed stablecoins make use of  DAG-based infrastructure and base protocol that is private, affordable, scalable, inclusive, fast, and finance-optimized. The protocol makes use of smart contracts to maintain a stable price floor with a stable reserve. It allows traders to mint and burns stablecoins to maintain a stable price point for the token and uses the transaction fee to carry the network operations.

COTI Group CEO Shahaf Bar-Geffen believes its DAG protocol use could help it derive a new stablecoin on Cardano that would propel it in the current market due to its decentralized nature, scalability, and security. He explained,

“The stablecoin ecosystem has matured tremendously over the past few years. Blockchain participants are using stablecoins to engage in everyday transactions because they allow monetary value to be exchanged in a seamless manner, regardless of the sender and recipient’s location. I believe that adding the Djed-based stablecoin to the Cardano blockchain will significantly improve how transactions are settled on the platform.”

$ADA maintained its price above $2.20 and looks to break the $2.30 barrier as the crypto market recovers from China’s crypto ban FUD. The third-largest altcoins had broken past a new ATH of $3.10 in the run-up to the key Alonzo upgrade, but since then the bearish September month has kept its price in check.

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Source: TradingView

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Cardano Will Soon Have Its First Stablecoin

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Cardano is going to have its first Stablecoin —Djed— soon, giving space to cheaper transactions and making it easier to run DeFi projects.

Software development company COTI announced a few hours ago the issuance of the first stablecoin designed to run on Cardano.

The news was first revealed by Charles Hoskinson, leader of Cardano, and Shahaf Bar-Geffen, CEO of COTI Group, at the Cardano Summit stage in Laramie, Wyoming.

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The Djed stablecoin will be issued on Cardano and will promote the growth of its nascent ecosystem, especially now that the blockchain is beginning to support smart contracts and markets have strong expectations about the possible development of DeFi platforms on a blockchain that has been touted as the future Ethereum Killer.

What is Djed and Why Does Cardano Needs a Stablecoin?

A stablecoin is a cryptocurrency designed to maintain a stable value with respect to a reference. The best-known stablecoins are cryptocurrencies like USDT or Stasis, which are pegged to fiat currencies such as the dollar or the Euro. However, there are cryptocurrencies whose value is pegged 1:1 to other commodities such as gold (like Digix) or even to other cryptocurrencies or baskets of cryptocurrencies.

There are several methods to achieve this relationship, ones more effective than others. The most popular is the holding or blocking of an amount of the reference asset that supports the issuance of a proportional amount of the correspondent stablecoin: For example, the market capitalization of USDC is $3,677,063,935 because there are 3,677,063,935 USDC tokens in circulation and Circle holds $3,677,063,935 in collateral.

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In the case of Djed, the value is kept stable by an algorithmic design, which leverages smart contract design on the Cardano blockchain to maintain a price as close as possible to $1. To achieve this, Djed maintains a reserve of base coins while mining and burning other stable assets and reserve coins to counter fluctuations.

Visual representation of how the Stablecoin Djed will work on Cardano. Source: IOHK
Visual representation of how Djed’s algorithmic design will work on Cardano. Source: IOHK

According to its whitepaper, there will be two versions of Djed: a minimal one, designed primarily to serve as a medium of exchange, and an extended one whose smart contract uses a continuous pricing model and dynamic fees to react faster to external events, ensure an optimal level of reserves and provide even more security when performing complex operations such as those performed in DeFi protocol transactions.

A Promising Development

Shahaf Bar-Geffen, chief executive of COTI Group, said at the conference that the use of a stablecoin such as Djed will allow users to maintain greater control over their transactions, thanks to its stable value and low fees.

Blockchain participants are using stablecoins to engage in everyday transactions because they allow monetary value to be exchanged in a seamless manner, regardless of the sender and recipient’s location. I believe that adding the Djed stablecoin to the Cardano blockchain will significantly improve how transactions are settled on the platform.

For his part, Charles Hoskinson was enthusiastic about this new project as it would be one of the most ambitious implementations aimed at strengthening the Cardano ecosystem.

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The Djed stablecoin could be a game-changer in the crypto space, appealing to an entirely new audience at a time when the industry is already experiencing astronomical growth. COTI has been a long-time partner of the Cardano ecosystem. It’s great to have them on board with this new venture.

This seems to be a major move for COTI. When its partnership with Cardano was first announced, COTI’s token spiked 50%, hitting an all-time high (ATH) of $0.60 in a couple of hours.

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