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Smart Contracts Upgrade Cardano (ADA) Confirmed for Mainnet on September 12, 2021

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Community-led events in different destinations with volunteer hosts are happening for Cardano (ADA).  ADA holders and enthusiasts are meeting face to face. People from countries where the ADA meetings are not organized are wondering why not such a meet up in their place.

Meanwhile, the smart contracts upgrade has been confirmed for mainnet on September 12, 2021.

Input Output talking about the confirmation launch:  Today, around 17:26 UTC, we successfully submitted an update proposal to the Cardano mainnet, to trigger a hard fork combinator event on Sunday.

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The Alonzo HFC event will be the most significant upgrade yet, laying the firmest of foundations for an exciting new era of smart contracts on Cardano. Here’s the moment – just minutes ago – that Sam submitted the upgrade proposal.

On Sunday, core Plutus smart contracts capability will be deployed to the Cardano mainnet using our unique HFC technology. Along with compatibility upgrades across the whole software stack.

Exchanges, third parties, and the Cardano stake pool operator community all continue to get ready for Alonzo. Thank you all for your continuing support.

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We’re on our way. Remember, this may be the end of one long journey. But it’s the start of an exciting new phase in our development as a smart contracts network. We’ll have lots to share over the months ahead as our exciting ecosystem continues to grow.

Start by joining us this Sunday LIVE to hear more from the team about what to expect as we head towards the Cardano summit, and beyond. More details on that a little later this week. Till then. Onward.

For those who are wondering:  Why would the Cardano team explain something that is explained multiple times already? His chia crap blockchain needs some free advertisement, obviously.

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Because, they have been building Cardano past 6 years. This is something they have been working towards, and it’s been a long road. And they are proud of it.  Let them have their cake and eat it.

Community response:  Rarely in history is so much about to be accomplished by so few for so many. Proud to be playing a miniscule part in the history-changing story that is Cardano. Thank you for the opportunity.

This is very, very good. The market seems to have already considered the event in the 100% +% rise over the last 6 weeks. I’m guessing we will see a dip of some type before we see additional price discovery. If we do see more. I’m always hopeful, but this market is behaving oddly.

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Hopefully, BTC won’t stand in ADAs way once the contract capability is released. These are exciting times. Maybe this will be the event to break ADAs link to BTC, and ADA will stand on her own.

Price is cheap today; load up. This is going to be monumental—the first step to ensuring a secure and fast-paced ecosystem.

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Cardano Must Hold Critical Level To Remain in Macro Bullish Trend, According to Crypto Analyst Jason Pizzino

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A widely followed crypto strategist and trader is highlighting a crucial level that Cardano (ADA) must hold to keep its bullish market structure.

In a new strategy session, crypto analyst Jason Pizzino tells his 242,000 YouTube subscribers that Cardano is still in a macro bullish trend despite the smart contract platform’s massive decline from its all-time high.

“The overall trend at the moment is still a major bull market.

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I’d probably not call that a bull market anymore if we broke the lows at around $0.90 to a dollar, but at the moment, this week has closed above the 50% [Fibonacci level], so it’s still quite strong. [It’s trading at] a $1.60 and the 50% is at a $1.59 so that’s $0.01 above as well, so just little subtle signs there.”

At time of writing, Cardano is trading at $1.60, marking a 48% devaluation from its record high of $3.10.

Pizzino adds that Cardano’s steep decline this month indicates that the end of ADA’s multi-month corrective period may be on the horizon.

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“You can see how much, how quick it starts to fall towards the end. And from this point, I am saying ‘potentially’ the end. I can’t say for sure it is, but it’s quite often that you get a very sharp move towards the end of the downtrend and then a reversal…

I don’t see a reversal yet, but the first sign is there for me that the market has taken a sharper turn down.” 

At its current price, Cardano is down over 32% from its November high of $2.38.

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Charles Hoskinson Slams Central Banks and the U.S. Senator, Here’s Why

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CEO and founder of IOHK, software developers behind the Cardano (ADA) blockchain, indicates which economic processes scare him.

Mr. Hoskinson has taken to Twitter to answer an anti-Bitcoin tirade by Stephen Diehl, entrepreneur, software programmer and an outspoken skeptic of cryptocurrencies.

“You know what scares me?”

Prof. Diehl, author of The Case Against Cryptocurrency, stated that he is scared by a generation of “kids” that is more familiar with the “sound money” narrative of Bitcoiners than with Keynesian models and classic economic theory.

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Mr. Hoskinson disagrees with the speaker, insisting that there are some things that are far more scary than a new generation interested in Bitcoin (BTC) narratives.

Cardano’s inventor slams central bankers who increase the money supply by 50% in just a year and a half, pretending that this “printing” has no or little impact on inflation dynamics.

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At the same time, when the prices for consumers go up, politicians refuse to admit that this process is catalyzed by never-ending QE policy in most countries.

About greediness and hypocrisy

Instead of doing so, they blame corporations: Mr. Hoskinson refers to recent statements by Sen. Elizabeth Warren (D-MA) who repeatedly accuses the U.S. corporations of greed.

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In her recent letter to Assistant Attorney General Jonathan Kanter, the head of the Antitrust Division of the Department of Justice (DoJ), Sen. Warren named the “anticompetitive practices” of food market heavyweights as the main catalyst for a price increase for food and groceries.

Earlier, she released a similar statement regarding oil and gas exporters, including the likes of ConocoPhillips, EQT, Exxon Mobil, Coterra, BP and so on. The senator accused them of increasing the amount of export followed by jacking up the prices for American families.

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Cardano’s Hoskinson: ‘Winners of the future in the DeFi space are going to…’

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The age of DeFi is here. This sector of the cryptocurrency industry is raking in huge investments from all parts of the financial market while existing in a constantly evolving ecosystem. This, unarguably, has taken a toll on some networks struggling to keep up with the pace of development while others are looking at it as a capitalistic opportunity up for grabs.

Cardano, for instance, launched smart contract functionality earlier this year to prime the network for hosting DeFi applications. While its native token ADA saw unprecedented demand and growth in the days leading up to the Alonzo hard fork, its price action has been largely uneventful since, save for a loss of over 50%.

Its network activity, however, has seen a huge spike recently, and most of it can be attributed to its emergence as a viable DeFi contender.

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But, what makes Cardano a suitable option for developers to build upon? Well, from the horse’s mouth itself, it’s because of “their vision for the future.” In a recent interview, Cardano founder Charles Hoskinson noted that while the open cryptocurrency movements had started as being open source and decentralized, most networks want to lock users into their protocols and tokens, “which is crazy.”

Instead, he says, cross-chain is the way to go for DeFi, where networks would be open to interacting with one another. He added,

“The winners of the future in the DeFi space are going to have liquidity and interoperability, the ability to move multi-chain.”

He also praised networks like Chainlink that are not putting “all their eggs in one basket like Ethereum,” but are instead working towards this goal. Chainlink recently launched its Cross-Chain Interoperability Protocol (CCIP), which it has called a “new global standard for decentralized inter-blockchain messaging, data and token movements.”

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The network also recently surpassed $75 million in total value secured – A sign of the growing importance of multichain protocols.

The Cardano and Ethereum networks have also been connected through a recently launched cross-chain which allows users to migrate their NFTs between the two.

According to the exec, in the coming years, Layer 2 protocols will be witnessing all the action as a majority of the interaction will take place there while L-1s will be used as “a proof checker and a settlement of last resort.” He added,

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“We saw that future and we designed the extended UTXO model, Hydra, our side chain model, and all these other things to accommodate that future and if dApps are going to live there, I think they could live there very comfortably.”

On the topic of dApps, Hoskinson also noted that a coherent way of curating dApps is of prime importance at the moment. Here, users can ideally check and verify the applications such as in the case of Google or Apple’s applications stores.

“You have to make discoverability of dApps really easy, then you can get mass market, you can get millions to billions of users very quickly in the developed world.”

Apart from Cardano, protocols like DappRadar are also working towards a one-point solution for dApp navigation.

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