Cardano-based instruments yet again come to the rescue in Africa
3air is a unique broadband Internet services vendor and will issue its native token, 3AIR, on Cardano (ADA) blockchain. It seems that its core mission is aligned with that of Cardano.
3air raises bets on telecom in Africa: Introducing “Last Mile”
The 3air company is on a mission to solve physical infrastructure issues in low-connectivity areas. To that end, it has inked a partnership with K3 Telecom heavyweight to support its “K3 Last Mile” project in African nation-states.
The problems with the Internet connection will be solved by providing Africans with access to wireless broadband. The “Last Mile” program is designed to empower both personal computers and corporate digital systems with access to the Internet, IP-telephony and digital television.
As per statements released by the 3air team, each of its stations covers a radius of 31+ miles. Each base station will provide more than 15,000 users with broadband access to the Internet.
Each base station ensures up to 1 Gbps per user speed and has almost 240x more throughput than the average mobile communicator.
To create a new-gen payment ecosystem for its products, 3air will use the 3AIR token on Cardano (ADA) blockchain. 3AIR also acts as both a utility and governance token.
3AIR holders can access the full range of 3air services, join bandwidth sharing markets and take part in infrastructure insurance and maintenance. Moreover, 3AIR is suitable for community governance, staking, digital identity creation, rewards and loyalty systems and as a tool to support referral program enthusiasts and agents.
3AIR tokenholders can earn on 3air’s African initiatives: Here’s how
3AIR tokenholders will have a vote on the future strategy and resource distribution. Also, their contribution will fuel the next phases of 3air ecosystem progress.
By Q4, 2021, 3air successfully closed two pre-sale rounds. Its public sale round is designed to introduce 3AIR benefits to the global cryptocurrency audience. It will start on Nov. 26, 2021. Registration for its whitelist is now up and running.
As covered by U.Today previously, Africa is one of the core focus areas for Cardano (ADA) blockchain and its ecosystem. In October 2021, the Cardano (ADA) inventor, CEO of IOG Charles Hoskinson, visited the continent and discussed crypto adoption with local leaders.
Cardano Must Hold Critical Level To Remain in Macro Bullish Trend, According to Crypto Analyst Jason Pizzino
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.
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.
“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.
Charles Hoskinson Slams Central Banks and the U.S. Senator, Here’s Why
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.
You know what scares me? A central bank increasing the money supply by 50 percent within 18 months, telling me it has no/little impact on inflation, and when prices go up, Warren blaming "greedy corporations"
It's simple. Do you want your money more valuable over time or less? pic.twitter.com/DvR2SEo8qq— Charles Hoskinson (@IOHK_Charles) November 29, 2021
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.
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.
Wondering why your Thanksgiving groceries cost more this year? It’s because greedy corporations are charging Americans extra just to keep their stock prices high. This is outrageous. https://t.co/ZGhL7c3piR— Elizabeth Warren (@SenWarren) November 24, 2021
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.
Cardano’s Hoskinson: ‘Winners of the future in the DeFi space are going to…’
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.
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.”
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,
“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.