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Cardano Projects Say Success Comes With Interconnectivity

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  • Cardano projects assemble to share their experiences on the blockchain.
  • Four projects talk about the switch from Haskell to Plutus and much more.
  • Almost all agree that the next hard fork should come with a read-only UTXO feature.

Cardano’s project leaders have a chat. In detail, five powerhouse projects on the Cardano (ADA) ecosystem exchange thoughts and share their experiences over the time spent on the blockchain.

In particular, CTO and Co-Founder of DCSpark — Sebastien Guillemot leads the discussion. He talks with leaders from four projects on the Cardano blockchain. Specifically, these include Pi Lanningham of Sundae Swap Labs, Ben Hart of MLabs, Ilya Oskin of ErgoDex, and Dewayne Cameron of Liqwid Finance.

Together the titans swap stories about how far they’ve come on this ecosystem. One of the points of discussion is the transition from developing with Haskell to Plutus. Another core topic of discussion was the importance of a larger Cardano community in order to see growth.

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The talk ended with possible improvements these developers and project leaders would like to see in perhaps Cardano’s next hard fork. Let’s dive in and see how these conversations went. The talk first began with a quick round of introductions.

Meet the Leaders of Cardano’s Active Projects

First up is Ben, he is a partner and Plutus consultant at MLabs, he is also the director of Cardano operations at MLabs. Ben has worked very closely with Plutus over the last 8 months along with many other different applications on the network.

Next is Pi, the CIO of Sundawe Swap Labs, his goal is to build a decentralized exchange that will serve the very core of DeFi. To him, it’s very simple: provide someone with a token to access the means to gain another token.

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On the other side, there is Ilya, he is the lead core developer on ErgoDex. Lastly, Dewayne is the CEO and co-founder of Liqwid. He has been in the Cardano ecosystem for a long time. His journey began when he joined a catalyst project in early 2018. Since then, he has come a long way.

All four experts come from different backgrounds but one thing they have in common is the fact that they’re all familiar with developing and coding. On that note, Sebastien asked the four what their experience was like with the move from Haskell to Plutus coding.

On this matter, there was a pretty unanimous reply. Ben says that Haskell and Plutus have an interesting relationship. He says this is because of the way Plutus is built. Thus, it is a simple switch for users to swap out Haskell for Plutus. In addition, he adds that Cardano uses eUTXO, this makes it a different model from blockchains like Ethereum and is the first to do so.

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Ilya expresses that the difference was more towards learning specifics rather than learning a whole new code. Likewise Pi also agrees on how there wasn’t much to unlearn but rather more to add on to their existing knowledge. Dewayne says that it was more of tailoring to a new design pattern which was easy enough to get once you get going.

Cardano Is Set to Grow With Its Community 

Next Sebastien brings up a pretty interesting point, he says that for all four projects it is imperative for the community to grow in order for the projects to succeed. Thus, he asks the party what steps they are taking in order to secure that success.

No doubt, all four say that this is evident to their projects but it is in fact the spirit of decentralization that shines through. For instance, with a DEX, stablecoins could offer liquidity to the exchange. This is why ErgoDex offers a software development kit for developers to build on top of it.

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Likewise, Pi says that it takes a village to raise a child. Cardano is still in its infancy, and it is up to the community as a whole to bring it to the top. As a firm believer in interconnectivity and cooperation, Pi stresses the imperative nature of inclusion and trust for true growth. With this model in place, all sides of an agreement can benefit together and find value.

Meanwhile, Dewayne says that composability is the name of the game here. By building partnerships, projects can come together to create new functionalities. In turn, this could create new value, which not only offers value to users and partners but also to the blockchain as a whole.    

Finally, Ben adds his two pence. He says that with DeFi and NFTs booming recently, the only way to go is up. There are always new and interesting ways to elevate a project. In fact, he says that once the first layer of DeFi projects is underway, it will get a lot more interesting to see what builds on top of that layer.  

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Lastly, Sebastien asks, what is the most important thing that these developers would like to see roll out in the next Cardano hard fork? On this the answer was almost unanimous, 3/4 chose read-only inputs for UTXO. 

In conclusion, the assembly certainly led to some interesting conversation. The highlight according to this reader would be the very clear dedication and support that reverberates off of these leaders. Like any blockchain, one of the main points of success comes through the community-driven faith in the project.

Clearly, the Cardano community is in good hands. It is very nice to see that leaders within the community are here for the long haul. Much like the founder of Cardano himself — Charles Hoskinson, the drive is to support one another, build, grow, and expand until the final barriers are broken through.

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Just recently, Hoskinson addressed the greater crypto-verse in order to shake the FUD out of nay-sayers. He said that Cardano is just getting started and is still very much working towards meeting every milestone on its roadmap. The next phase of Cardano will soon be here and the road ahead looks very promising. So, stay tuned to see what Cardano will bring next.

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Here’s What Cardano Founder Charles Hoskinson Wants For Christmas

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Christmas is just around the corner and Cardano founder Charles Hoskinson is already in the Christmas spirit. The founder went live on YouTube on Monday to do another surprise AMA where he answered questions from the community. As usual, Hoskinson responded to a number of questions from community members who asked about the Cardano project.

What Cardano Founder Wants For Christmas

During the AMA, Hoskinson gave a rundown of what he would like for Christmas and it was not your usual itemized list of stuff people want for Christmas. Instead, Hoskinson decided to address a pressing issue in the crypto space and that is the divide that is very much present among investors of different projects.

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Cardano has been one of the harder hit projects when it has come to FUDs in recent times. The project had been subjected to what can be described as hateful comments all-around social media especially since its token ADA began its two-month-long decline. To this end, Hoskinson wants everyone in the crypto industry to start getting along.

“The one thing I want for Christmas is for everyone to start getting along in our industry. It’s extraordinary to me that when people are so close in philosophy and viewpoint, and in some cases technology, they can be so far apart as people. It’s extraordinary,” the founder said.

Cardano price chart from TradingView.com
ADA trending low at $1.4 | Source: ADAUSD on TradingView.com

Pushing For Better Systems Going Forward

Hoskinson also addressed the systems that have kept investors against each other for years. He said that the crypto space is where this is more prominent as other industries do not see as much hate between each other as the crypto industry.

“You don’t see this in other industries,” Hoskinson said. “You don’t see in physics or biology, or cellphone manufacturing, or whatever, pick an industry, the amount of tribalism, hate, and vitriol that our industry has for each other.”

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The founder went on to explain that as long as people keep hating each other, there will be no way to fight the real enemy, which he identified as the legacy systems. He said this system has held down three billion people and will continue to do so. The founder also acknowledged that this will not be easy as there will always be those who try to divide others in the space.

Hoskinson explains that there will be books and podcasters saying things to divide people. Even on social media, where the majority of the vitriol will be spilled. However, it is up to everyone in the industry to take a stand and put a stop to the hate.

“That has to stop and the only way it’s going to stop is if we get better systems that are more fair. And the only way we do that, is we have to work together. So, we’ll see, 2022, whether that’s accomplished.”

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Cardano Launches Converter Testnet for Project by AI Pioneer Behind Robot Sophia

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The AGIX ERC20 converter has been launched in testnet mode.

Holders of SingularityNET’s AGIX token can now ditch Ethereum and migrate to the Cardano blockchain.

According to a Dec. 7 announcement made by Input Output, its AGIX ERC20 converter has now launched in testnet mode.

ERC20 tokens can be converted into the new format and transferred to ‎EMURGO’s Yoroi or Input Output’s Daedalus.

SingularityNET functions as a blockchain-powered artificial intelligence marketplace that aims to enable seamless monetization of various AI services.

Its utility token was initially launched on the Ethereum blockchain under the AGI ticker. In May, it was revamped to Cardano-compatible AGIX.

SingularityNET is helmed by AI trailblazer Ben Goertzel, who is famous for working on humanoid robot Sophia while he was the chief scientist at Hong Kong-based firm Hanson Robotics.

Goertzel said that migrating to Cardano will allow the project to add new functions:

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The importance of this port for SingularityNET and the whole blockchain and AI ecosystems cannot be overestimated – it will yield not only a far faster and more economical AI network but also a massively superior foundation for adding advanced new functions to SingularityNET and moving toward realizing our vision of decentralized AGI.

The partnership between SingularityNET and Cardano was announced last September. The AI project, however, is not completely giving up on Ethereum: its users will have to pick the preferred platform.

In September, the Cardano blockchain was integrated into Grace, the SingularityNET humanoid robot nurse that aims to disrupt eldercare.

Input Output is also working on allowing users of other blockchains to migrate their tokens to Cardano.

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Cardano price remains trending downwards while crypto markets rebound

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  • Cardano price is paring back losses that occurred last weekend. 
  • ADA price is still trending lower in line with a very well-respected trend line.
  • Expect bulls to test and try to break $1.67, depending on the strength of the tailwinds.

Cardano (ADA) price has been declining since mid-November when its trend accelerated in the spillover from the Bitcoin flash crash. Now ADA price sees bulls returning to the scene as Cardano trades at an attractive discount. It is possible this may be a short-term reaction, however, as the downtrend is technically still in play, and buying volume will only pick up once bulls break above $1.67 to the upside.

Cardano investors sidelined as downtrend still active

Cardano price has already lost 51% of its value since the high of November when it reached $2.40. ADA would be expected to see quite some inflows from investors and buyers at the current price who may be looking to pick up some interesting cryptocurrencies at a discount. However, the uptick in buying volume is mild as traders know that the downtrend in ADA is still very much alive, with the black descending trend line acting as a reference for that trend.

ADA price will see investors start to buy back in once bulls can break above $1.67 around the intersection from the descending black trend line and a historical level that has been well respected since June. The two false breakouts on December 2 and 3 will make investors nervous, and would only see them starting to buy in when the price can consolidate above that level. That push higher will depend on whether the current tailwinds linked to the rebound in global equity markets extends.

ADA/USD daily chart

ADA/USD daily chart

ADA bulls will, therefore, be closely watching for any breaks and the behavior of price action around $1.67. Once through there, expect bulls to quickly face further resistance at $1.90, with the 200-day and 55-day Simple Moving Average merging just above that level. So, price action is facing some pretty hefty resistance.. Should current tailwinds start to fade once again, expect a quick dip back below the red ascending trendline near $1.30, and a further correction towards $1.0.

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