Charles Hoskinson Reveals Upcoming Cardano Stablecoin; ‘Significantly Better Than MakerDAO’

The IOHK CEO and founder of Cardano blockchain, Charles Hoskinson, appears quite obsessed with the Defi hype. Decentralized Finance (DeFi), an Ethereum based protocol, has taken the whole crypto ecosystem by surprise with its phenomenal growth in 2020. The Defi ecosystem, originally valued below $1 billion at the start of the year, has exploded upward, hitting a valuation of $15 billion.

Charles Hoskinson has not hidden his interest; during one of his recent AMA sessions, he revealed that he has become “very obsessed with DeFi lately.” He also went on to claim that this obsession has led to “hundreds of pages of reports, lots of interviews, and discussions.”

Hoskinson, during the AMA, said that the amount of development currently underway on the Cardano blockchain has led to several leaks about the upcoming projects. He cited one example as the recent association with Emrugo to develop a stablecoin, which the CEO believes will be better than MakerDAO. Hoskinson said:

“For example, we’ve partnered with Emrugo, and we’re right now working on the logistics of a stablecoin with them that we’re going to be building first on Ergo to verify everything works correctly, and then we’ll pull it over into Cardano, and this is going to be an algorithmic stablecoin. We think it’ll be significantly better than MakerDAO.”

The Growing Defi Craze

Charles Hoskinson is not the only one obsessing over the Defi hype; just like the ICO era, the defi hype has led to the launch of hundreds of defi tokens in the first half of 2020. Yearn Finance (YFI), a valueless token launched just a couple of months ago, is currently trading at over $30,000.

Binance, a leading crypto exchange, is also eyeing the defi space. In recent weeks, the exchange has listed two popular defi tokens, namely Wrapped Bitcoin (WBTC) and YFI token.

Hoskinson also said that the growing competition and the rising value of defi tokens are not as much of a challenge for Cardano and argues that it’s more of an opportunity. He explained:

“The reality is that the first-mover advantage is a disadvantage. Those network effects were ephemeral and often covered with mistakes and scars and explosions. You actually want to be in the imitator, the second-mover category for DeFi. And I think we’ll have a lot, lot more luck than the first-movers did in the space.”

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Author: Rebecca Asseh

Coinbase Custody and IOHK Partner to Provide Institutional-Grade Staking For Cardano’s ADA in Q4

IOHK, the lead developer of Cardano blockchain, and Coinbase Custody, the institutional-grade custodian launched by Coinbase Inc., announced a partnership to allow users to stake their ADA tokens. Along with staking, the partnership also allows assets to remain safely locked in a cold storage wallet.

In the announcement emailed to us on Friday, the staking-custody service offered by Coinbase, a first of its kind, will be rolled out in the latter stages of the year when the staking service on Cardano blockchain goes live.

This service will ensure that users of ADA on Coinbase will be able to reap the rewards on Cardano’s proof-of-stake (PoS) network while keeping the digital assets secure in the cold wallet storage facilities. The statement reads:

“Agreements like these are essential to driving widespread adoption of cryptocurrencies, as they allow institutional and large investors to safely and securely manage their funds while also keeping in line with regulatory requirements.”

This is also expected to sway the regulators’ view on the use of cryptocurrencies without the worry of a security breach, which previously provided a barrier to digital assets being widely adopted.

Speaking on the partnership with IOHK, Sam McIngvale, Head of Product, Coinbase Custody, said the exchange tested the Cardano staking testnet protocol with over a thousand stake pools sampled. Sam concluded,

“We are pleased to have been selected as the custodian, and we’re proud to be a full-service, regulated, comprehensively-insured, and 100% offline staking provider in crypto.”

Cardano’s founder and CEO at IOHK, Charles Hoskinson, was equally pleased with the partnership stating the aim is to include the unbanked population and provide a gateway to financial investments to people who have previously were neglected. On the custody- staking services, Hoskinson said:

“This custody agreement allows us to offer the same secure storage solutions that can be found in traditional finance to ADA holders, without sacrificing what makes Proof of Stake blockchains special – being able to participate in the network.”

Cardano’s native token, ADA, is on a sustained rise since the announcement of the launch of the Shelley-era in the coming weeks. IOHK has already deployed the Shelley node on the Cardano mainnet, signaling everything is ready for the hard fork.

The token currently places seventh on Coinmarketcap charts with a total market capitalization of $2.6 billion after an 8 percent surge in price the past 24 hours.

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Author: Lujan Odera

Cardano (ADA) Staking Will Offer ROI of 6%-6.5%, IOHK Releases the Details for CIP

Cardano has released the details of the parameters that are set before the Shelley mainnet is launched. The goal behind these parameters is to be “truly decentralized,” have stake pool operators incentivized, and that they can remain unchanged.

These parameters and values will be issued via a Cardano improvement proposal (CIP), said Lars Brünjes, Education Director.

The number of pools has been decided at 150 which reportedly “makes Cardano an order of magnitude more decentralized than any other blockchain.” Over time, they could be gradually increased. The update reads,

“Based on what we have learned from both the Incentivized Testnet (ITN) and the Haskell Shelley testnet, we know that our community is highly motivated to set up pools and support the chain with hundreds within a matter of weeks.”

Coming onto the staking rewards, they will be taken from two sources; transaction fees and monetary expansion.

All the transaction fees will be basically put into a virtual “pot” and a fixed percentage (0.22%) of remaining ADA will be added to that pot. Basically, every four to five years, half of the remaining reserve will be used which mean,

“Cardano reserves will deplete at about the same rate as bitcoin reserves.”

A certain percentage of this pot will be then sent to the treasury and the rest will be used as rewards.

Initially, the portion of reward taken from the reserves will be high because transactions will be low and over time additional fees will compensate for dwindling reserves as transaction volume increases.

The cost to operate the pool has taken at $2,000 for the minimum operational cost out of the typical range of $2,000-$15,000. This is to ensure that “the pledge influence factor is effective, by avoiding a ‘race to the bottom’.”

This brings the ROI of the stake pools at 6%-6.5% on average.

More to Come

Besides the upcoming Shelley mainnet release, the Cardano Virtual summit is taking place next week that will have the likes of Vint Cerf “fathers of the internet” as the key speaker.

The two-day summit will also involve keynotes from mathematician Stephen Wolfram; Mark Gordon, Governor of Wyoming; Mamuka Bakhtadze, former Prime Minister of Georgia; and of course Cardano founder and IOHK CEO Charles Hoskinson.

Amidst all this excitement, ADA prices are currently dull along with the rest of the market, trading at $0.0821. However, the cryptocurrency is up 143% YTD which has it climbing at the 9th spot as per its $2.3 million market cap.

According to Ryan Selkis, co-founder of Messari, Cardano can become the 5th largest cryptocurrency in the next year.

The cryptocurrency still has a long way to go as ADA is down 94% from its all-time high of $1.33.

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Author: AnTy

Cardano (ADA) Price Analysis (May 16)

• Cardano- upward pressure still dominates both the medium-term and short-term time frames.
• The crypto is well on its way to the resistance level.

ADA/USD Medium-term Trend: Bullish

Key levels

• Resistance levels : $0.07, $0.08, $0.09
• Support levels: $0.02, $0.01, $0.009


Cardano looks tasty for the bulls here in the medium-term outlook. The sustained bearish pressure at $0.049 in the support area is being exhausted as the bulls take over the market.

The bull’s gradual return into the market as the session opens today at $0.050 returns the crypto back within the range.

ADAUSD now trades at $0.051 in the resistance area above the two EMAs, an indication of an uptrend in the context of the market.

However, the stochastic signal at the overbought region at level 73% suggests the momentum in price may likely encounter a change in trend in the nearby days and in this case, a down trend in the medium-term.

ADA/USD Short-term Trend: Bullish

The coin is in an uptrend in its short-term time frame as we can see from the 4-hourly chart below. The bears drop the price down at $0.050 in the support area before the session closes yesterday.

The 4-hourly session opens today at $0.050 and rises further to $0.051 in the resistance area shortly after the session opens.

The bears in-road briefly drops the price of ADAUSD down to $0.050 in the support area at the time of writing.

With the price above the two EMAs and the stochastic signal up at around level 49% implies the bulls may continue and remain to dictate the crypto’s market in the short-term.

Hence a buy signal.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Cardano Foundation, South African National Blockchain Alliance Partner To Drive Adoption

The Cardano Foundation has entered in a partnership with the South African National Blockchain Alliance (SANBA) to boost the adoption of blockchain technology across the country. The announcement was made on April 7 and in this partnership, Cardano would leverage Distributed Ledger Technology to improve the socio-economic growth of the country.

Cardano Foundation believes this initiative would help them achieve their long-term goal of blockchain adoption across regions where banking services are hard to get. Cardano Foundation also sees South Africa for building a network across the region constituting of government agencies, institutions, and private firms working the blockchain technology. The official announcement read,

“Cardano believes in empowering individuals and enterprises by putting them in direct control of their information, wealth and value. Blockchain technology lets developing nations break ties with legacy banking systems, costly middlemen and entrenched political structures.”

Cardano Sees Blockchain as a Critical Tool To Help The Underprivileged

When Blockchain came into being after Bitcoin gained traction which opened the market for the use of the decentralized technology. Cardano also believe that blockchain brings transparency, reduce fraud especially in developing economies where corruption and lack of transparency in the society lead to poor getting poorer by the day.

Cardano in its initiative is planning to build a digital identity infrastructure in these developing nations and help the deprived to gain equal opportunity through virtual currencies. The foundation is also hoping to help other nations in the continent through various fintech solutions.

Blockchain has emerged as one of the key technologies that have been used to help these developing economies especially the poor and underprivileged get access to basic human necessities like banking services. Prior to Cardano Foundation’s partnership and work, even Dash was widely used in Kenya to avail a form of money to the poor without the need of a bank. The Dash initiative offered offline Dash coupons to the people since electricity was quite scarce in the region, and those people can redeem their coupon cards at various centred against daily necessity goods.

The outbreak of Coronavirus leading to WHO declaring it as a pandemic, a majority of the markets and industries have either shut their operation or taken a back seat, however, Cardano Foundation has continued its development and partnerships with same zeal and speed.

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Author: James W

Cardano (ADA) Price Analysis (February 29)

• Cardano price remains in a bearish zone and declined below the $0.04 support area.
• Buyers in hibernation as the fall continues.

ADA/USD Medium-term Trend: Bullish

• Resistance levels : $0.07, $0.08, $0.09
• Support levels: $0.03, $0.02, $0.01

The coin looks bullish in its medium-term view. ADAUSD is very likely to continue dropping as we are seeing a bearish correction in place. The coin is facing an increase in selling pressure and it could continue to slide the more.

A bearish doji candle at $0.049 in the support area opens today’s market. This is a signal that the momentum in price of the coin may likely change soon.

ADAUSD is initially above the support line at $0.049 in the support area.

With price below the two EMAs and the stochastic oscillator signal pointing down at level 9% in the oversold region is an indication of a likely reversal in trend in the nearby days in the medium-term.

ADA/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in its short-term outlook. After breaking the $0049 of the lower channel the bears drop price further down at $0.047 in the support area shortly after yesterday’s opening before momentum loss ADAUSD rises to $0.05 in the resistance area before the end of the session.

The breakdown in price at the EMAs crossover with a bearish pin bar at $0.049 confirms the bears’ takeover as the market opens today. Price is down to $0.048 in the support area and later rises to $0.049 in the resistance area at the time of writing this article.

Price is just a bit above the EMA 9 an indication of an uptrend in the context of the market and the stochastic oscillator signal pointing up at level 48% suggests an upward momentum in price and a trend reversal may like occur in the price in the nearby days in the short-term.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

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Author: Ben Jordan

Cardano Successfully Tests Ouroboros BFT on the Bryon Testnet, Ready for Deployment

  • Cardano reaches the “important” step of OBFT update as it moves towards the Shelley era
  • This protocol update is the bridge for the currently in use Ouroboros Classic to Ouroboros Genesis, which will power the Shelley era
  • Network fundamentals on a steady rise, the number of daily active addresses reaches a peak of 9.76K

On Feb. 20th, Ouroboros will be updated on the Byron mainnet to Ouroboros BFT, stated IOHK while sharing the latest developments. It’s been more than 18 months since the IOHK has been building a new architectural foundation for the Shelley era on the mainnet.

As the network moves towards the Shelley era, they have reached a “really important” step that is the OBFT update, Ouroboros Byzantine Fault Tolerance. This hard fork will basically act as a bridge between Ouroboros Classic, which is currently in use on the Byron mainnet, to Ouroboros Genesis, which will power the Shelley era.

Exciting Months Ahead

Ouroboros is the consensus protocol, “the algorithm that sits behind Cardano’s capability as a decentralized proof-of-stake platform.” Ouroboros BFT has been implemented as a bridge by the developers as a “stepping stone in compatibility (…) to enable the evolution of Cardano on the Byron era, with its federated blockchain, to the decentralized Shelley era.”

Ouroboros BFT has been successfully tested on the Byron testnet and the team has announced that it’s time to deploy on the Byron mainnet. The deployment will be on Feb. 20th which the team says is “a really positive next step in the development of the Cardano platform.”

For the ADA holders, they don’t need to do anything as the update will happen behind the scenes and there will be no change to the coin, wallet, or exchange account or even if you have been involved with a Shelley incentivized Testnet, you won’t’ be affected in any way, shared the team on Wednesday.

The next few months will be “exciting” ones for the Cardano community as the network continues to evolve.

Fundamentals on the Rise

In other news, the fundamentals of the Cardano network are also on the rise. The network activity has been seeing a rise with the number of daily active addresses reaching its all-time high (ATH) at nearly 10,000 on Feb. 12. This has been an increase of over 300% since January 1st, 2020.

The active address ratio has surged 231% from the beginning of the year, up from 0.58% on Jan.1 to 1.93% earlier this week.

Additionally, the number of transactions on the network has also seen a spike, recording an average of just above 3600 transactions daily. At the beginning of the year, the transactions were down at 1,000 but it has now jumped above 4,200.

In terms of price, ADA is currently trading at $0.0624, up 85% in 2020 so far.

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Author: AnTy

Cardano (ADA) Looking ‘Absolutely Bonkers’ As Bullish Factors Push In

  • After six months of accumulation, Cardano is looking ripe for bulls as daily Ichimoku Cloud also turns bullish
  • Its price is also breaking above 200 MA which if happens is considered to be in a long term uptrend
  • “I’ve never seen the company so unified and moving so quickly,” IOHK CEO Charles Hoskinson on Cardano development

ADA is currently up about 35% YTD, going to $0.046, the highest level of 2020 yesterday. This level was last seen in Sep. last year.

Currently, the 12th largest cryptocurrency with a market cap of $1.18 billion is trading at $0.0454, down 1.87% in the past 24 hours as per Coincodex while managing the daily trading volume of $16 million on top ten exchanges as per Messari.

Though ADA has a long way to reach its all-time high of $1.33 as it is down 97% from this, bulls are coming for the digital asset.

Why is ADA Bullish?

Analyst Josh Olszewicz says “fundamentals aside, ADA looks absolutely bonkers to me,” while pointing out several reasons for the same.

For starters, ADA has seen about 6 months of accumulation. This phase is a stage of consolidation where there is no clear trend and the crypto asset usually trades in a range. During this period, which begins after the completion of a downtrend, traders and investors accumulate assets. The longer the accumulation period, the more explosive the run-up if it starts to break out.

The daily Ichimoku Cloud has also turned bullish which is the second reason. The Cloud is a key part of this indicator and if the price is above this, the trend is up and vice versa. A bullish cloud-like such also saw BTC soaring from about $7,000 to $9,200.

Other factors behind the surge

Q1 has been bullish for altcoins as seen currently in the market. Bitcoin chopping is another factor contributing to the rise in their prices.

As analyst Ceteris Paribus notes, the launch of Bitcoin-related products like CME’s Bitcoin options would be bearish for altcoins. “If it isn’t obvious, the more we see products like this get offered the more bearish it is for the majority of alts,” said Paribus.

However, another thing working for Cardano is that its price is breaking above 200 MA. An asset that is trading above its 200 Day Moving Average is considered to be in a long term uptrend.

“I’ve never seen the company so unified and moving so quickly,” – Hoskinson

On the development side, Cardano’s commercial arm, Emurgo partnered with the government of Uzbekistan to form a blockchain task force to develop regulations for security token offerings (STOs) and security token exchanges (STXs).

Recently in an AMA, Ethereum co-founder Charles Hoskinson, CEO of IOHK, Cardano’s parent company said the past few weeks have been “illuminating.” The company has been constantly releasing new updates with the Sheely Incentivized testnet receiving its first update for the year.

The Daedalus wallet is also seeing updates every two weeks, which Hoskinson said are necessary for its hardware support.

“I’ve never seen the company so unified and moving so quickly,” commented Hoskinson while talking about its staking service and its continually evolving software that will ease ADA’s release into more exchanges.

Now moving forward, its OBFT hard fork is likely to occur in February, a month that will see its first workshop with auditing giant PwC.

Hoskinson currently at the World Economic Forum in Davos, Switzerland is using it as a “networking opportunity,” with leaders from both the blockchain and finance industry.

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Author: AnTy

Cardano ‘Laser Focusing’ on Delivering Value, Brand Recognition & Promotion in 2020

  • Cardano is “laser focusing” on areas where it can “really deliver value”
  • Cardano Foundation team and community expanding
  • They have initiated a “major brand reappraisal project” to increase brand recognition & Cardano promotion

2019 marked Cardano’s second anniversary that saw the Cardano Foundation team expanding and its community increasing in size and becoming more geographically and linguistically diverse.

Entering into 2020 which is expected to be another busy one, the Cardano Foundation team will continue its “geographic expansion to strengthen our collective skillset as the Foundation and as a community,” said Hinrich Pfeifer, General Secretary of the Foundation.

As Deloitte’s 2019 Global Blockchain Survey revealed 53% executives believe Blockchain Technology has become a ‘critical priority’ while a whopping 83% sees its compelling use cases. 23% of the responding executives have already initiated a blockchain deployment which points to the fact that Demand for blockchain-enabled solutions is there and will continue to grow.

Cardano just needs to work on areas where it can “really deliver value for a wide range of stakeholders,” said Manmeet Singh, Chairperson of the Cardano Foundation says they have started “laser focusing” on them.

Supporting the revolutionary technology & the entire industry

Nathan Kaiser, Chairperson of the Cardano Foundation also shared that 2019 was about getting the non-profit behind the 12th largest cryptocurrency back on track and focused on the legal affairs, taxes, and partnerships including the one with Konfidio to develop “real-life use cases ranging from supply chain and logistics, IoT to Identity Management.” The Foundation also teamed up with COTInetwork to introduce an adaPay solution.

Cardano community is seeing “incredibly strong growth,” with over a million individuals now part of it.

Cardano Foundation emphasizes that its focus isn’t only on Cardano but to support the entire industry and the revolutionary technology. As such, they are “working with other foundations, policymakers, regulators and key stakeholders in the blockchain ecosystem,” shares Tamara Haasen, Council Member of the Foundation.

The idea is to have the necessary legislative support and increased education, awareness, and collaboration to drive the adoption and meeting the demand of the future.

Towards this, Cardano has initiated a “major brand reappraisal project.” This will further help them increase their brand recognition, increase it engagement and share of voice in the media to promote Cardano.

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Author: AnTy

IOHK Launches Cardano Daedalus Rewards Wallet For ADA Staking On Shelley Testnet

  • Cardano is now offering its users the Daedalus Rewards wallet for staking ADA.

Cardano is among the largest proof-of-stake (PoS) projects based on blockchain technology. It has recently launched the Daedalus Rewards wallet for staking ADA tokens, as an announcement released from Input Output Hong Kong (IOHK). IOHK is the research company helmed by Charles Hoskinson that’s behind Cardano.

This is what the IOHK tweet from December 17 says:

Cardano Wants to Reach a Level of Decentralization

On December 13, Cardano’s Shelley has started the Incentivized Testnet stage. With the launch of the Daedalus wallet, ADA holders will be able to obtain rewards if they delegate their tokens or act as stake pool operators, which can be very profitable for them. The rewards will become ready for spending after the Testnet is completed. With such an incentive mechanism, it’s more than clear that Cardano is trying to decentralize the network, this being the Shelley era’s main purpose.

Starting with December 15, more than 240 pools are available for staking. Cardano is looking to have its numbers growing to at least 1,000, so that the company reaches the needed decentralization level. It has already surpassed EOS and Tron, which are the main networks for delegated proof-of-stake (DPoS), when it comes to the staking pools’ numbers.

ADA Holders Have Staked $195 Million

Reports say ADA holders have staked more than 5 billion ADA coins, so about $195 million. The Shelley mainnet is expected to go live early in 2020. In case a user stakes 100,000 ADA ($3,600 at the moment), the staking rewards would be somewhere at $260 per year.

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Author: Oana Ularu