51% of Young British Investors Trading or Holding Crypto: Charles Schwab Survey

51% of Young British Investors Trading or Holding Crypto: Charles Schwab Survey

This is more than double the number of young investors, aged between 18 and 37, involved in stocks.

Young British investors are more interested in cryptocurrencies than they are in stocks, revealed a survey by U.S. financial group Charles Schwab.

The retail investing behemoth, which is also looking at the crypto market “closely” and awaiting regulatory clarity before they start offering crypto investment, surveyed investors aged between 18 and 37.

Its finding showed that 51% of these young investors have traded or held cryptocurrencies, double the number, 25% of those who are buying or owning equities.

Meanwhile, a mere 8% of investors over the age of 55 have traded cryptocurrencies.

Compared to Bitcoin’s 70% and Ether’s 205% returns YTD, which is after the recent 23%-26% pullback from all-time highs, S&P 500 surged 10.09%, gold -5.85%, and WTI 33.33% during the same period. The press release from Charles Schwab presenting the survey read,

“As more young people purchase speculative products, there is a fear that these investors are not diversifying their portfolios enough to mitigate risks in case cryptocurrency markets decline.”

The survey’s findings revealed that seven out of ten young investors were uncertain about building protections against losses in the current financial environment.

Schwab conducted the survey earlier this year, between February and March 2021, among 1,000 UK investors holding at least one type of investment.

Read Original/a>
Author: AnTy

Cardano (ADA) Founder Isn’t Worried About DEX’s or NFT’s, He Wants Countries Ran on the Blockchain

“My goal is to run countries on the blockchain,” Cardano founder Charles Hoskinson says in a Bloomberg interview. The fifth-largest crypto is now listed on Bloomberg terminal.

Following its meteoric 470% rise since the start of January, Cardano (ADA) at one point ranked as the third-largest cryptocurrency in market cap, only behind Bitcoin (BTC) and Ethereum (ETH). In the latest interview with Bloomberg, Hoskinson said the blockchain could replace Ethereum, offer countries digital solutions, and siphon customers from its competitors.

Following its massive growth over the past year, Bloomberg will also add the token to its terminal opening the crypto to a new audience, which could drive the demand even higher.

According to Hoskinson, projects have also eyed moving to Cardano, as the transaction fees on Ethereum make the latter platform unusable. And despite Cardano getting new projects, Hoskinson remains utterly shocked by 2021’s price movement of its native token, ADA.

“It’s been a wild ride; broke to a billionaire in eight years is pretty crazy,” Hoskinson said.

Cardano as vaporware?

Critics and crypto analysts have questioned the value of Cardano and its practicality in comparison with Ethereum. Having launched a major hard fork upgrade earlier this month, the platform cannot fully support smart contracts meaning the blockchain cannot run the surging decentralized finance (DeFi) and NFT market yet.

A statement from CoinMetrics co-founder Nic Carter bashed the blockchain as “selling vaporware,” adding he is not aware of “any popular application deployed on Cardano.”

“I am not aware of a single popular application deployed on Cardano, nor have I seen any enthusiasm for the platform among developers,” he said. “I am truly mystified as to why it is enjoying a resurgence in popularity.”

Notwithstanding, Galaxy Digital CEO Mike Novogratz also questioned the recent sustained bull run asking his Twitter followers about ADA’s use cases and purpose.

Added to the Bloomberg Terminal

Shortly after the interview, ADA was added on the Bloomberg Terminal, a tool used by professional traders, which could open up the crypto’s market to new investment and drive up its demand. Bloomberg Terminal added ADA on March 14, with several Twitter users noticing the addition. The Terminal provides the historical and live prices of ADA, adding a short explanation of the peer-to-peer reviewed blockchain.

The Bloomberg Terminal is a professional tool that costs up to $24,000 per year, showing Cardano could benefit price-wise from the latest addition to the terminal.

More developments on Cardano

The addition to Bloomberg is just a tip on the developments on Cardano, Hoskinson said in a statement. He remains confident that Cardano will take over the DeFi space as high gas issues continue to persist on the Ethereum blockchain. According to Charles, over 100 companies have already committed to switching to Cardano from the leading DeFi blockchain when “functionality matures” on Cardano. “You can take your DeFi, and you can run it on my system for 1/100 to 1/1000 of the cost,” he said.

However, Hoskinson sees a bigger future for Cardano, apart from affecting the DeFi space and NFT marketplaces. He stated the blockchains aim to provide solutions to countries and governments to ease voting processes and supply chain metrics. “My goal is to run countries on this blockchain,” Hoskinson said.

“I don’t care about Uniswap and CryptoKitties and other things. It’s a bubble, and it comes, and it goes, like Pet Rocks and Beanie Babies.”

Read Original/a>
Author: Lujan Odera

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.”

Read Original/a>
Author: Rebecca Asseh

IOHK CEO, Charles Hoskinson, Talks Cardano Market Prospects Following Shelley Launch

  • In an interview on Friday, Charles Hoskinson, Cardano’s founder and CEO of IOHK, spoke on the importance of price in the longevity of blockchain projects highlighting ADA’s 50% move on Shelley’s launch announcement.
  • Can ADA cement its place on the tenth position winning the battle of proof-of-stake (PoS) tokens?

Hoskinson: “Market will basically decide what the standards are”

Price is not always a revered matter in some sections of the blockchain development community, who believe that the benefits of the platform outweigh the speculation in price. However, Charles differed with this opinion stating that the markets have the power to decide the appreciation of a company as they are also customers of the product.

Over the years, the cryptocurrency market has shed off and accepted several currencies in the top ranking lists, Bitcoin (BTC) being the only constant since launch. Some of the projects such as Peercoin, the first blockchain to employ staking mechanism, and Primecoin, an improvement on BTC’s scalability and transaction fees, have faded into oblivion.

Despite the earlier projects offering a tangible solution, the market failure stifled development setting newer projects such as Cardano (ADA) and Tezos (XTZ) to take over the staking market and Bitcoin forks, Bitcoin SV (BSV), and Bitcoin Cash (BCH) to swallow the alternative Bitcoin market. Charles Hoskinson said,

“Ultimately people do what they make money with, the market will basically decide what the standards are.”

Market is king

In an interview with CoinDesk, speaking about Cardano, Hoskinson believes a high price is beneficial to motivate its community on the utility and inherent value of developing the platform. This strengthens the price even further. However, over the years the crypto market has shown its randomness in picking winners and losers and Hoskinson is wary of the fact.

The crypto market field does not reflect the project’s development progress but rather a speculation ring of trades. The growth of Dogecoin, a meme token, to a current market capitalization of $320 million is a clear indication of the “market is king.”

Charles further explained that he didn’t expect Ripple-backed XRP and Tether (USDT) to reach their current multi-billion market capitalization at their launch. He said,

“The things you think may gain traction and become a big deal, they could be yesterday’s news, and other things that you don’t think are going to be a big deal, end up becoming huge.”

Cardano starts the launch of the Shelley upgrade

Less than a month since Charles announced the launch of the Shelley upgrade on Cardano would be deployed in 2020, the process has started with the final upgrade expected to be complete and running on June 30th. In light of the launch, the price of Cardano rose to an 11 month high – a prospect that Charles believes will propel the blockchain to compete with the very best projects in the field. He said,

“There’s a very strong possibility that we will be very competitive price-wise with the rest of the crypto market.”

Over the past 24 hours, Cardano, ticker ADA, and Tezos, ticker XTZ, have exchanged the 10th position on Coinmarketcap multiple times. Cardano currently claims it with a total market cap of $2.21 billion, currently trading at $0.085288 on major exchanges at the time of writing.

Read Original/a>
Author: Lujan Odera

Cardano’s Hoskinson Warns About The Unfair Representation on Wikipedia From An Editor

Charles Hoskinson, the founder of 14the largest cryptocurrency by market cap, that has lost 98% of its value since its ATH in January 2018, took to YouTube to complain about getting a fair representation on Wikipedia.

In his video, he talks about the community members having issues with editing the proof-of-stake (PoS) articles on the online encyclopedia. Hoskinson said,

“Cardano, in particular, has been having a tremendously difficult time getting a fair representation on Wikipedia. Anything we do whether it be Plutus, the extended UT XL model, Oroboros – the Cardano project itself or people affiliated with the project there is broad-scale commercial censorship occurring by the editors at Wikipedia.”

Currently, the Wikipedia page says, “The article Proof of stake, along with other articles relating to blockchains and cryptocurrencies, is currently subject to active community-authorized general sanctions.”

“Existential danger to an industry”

Hoskinson, who also co-founded the second largest network Ethereum, said it is just another example of “existential danger to an industry,” which is “controlled by a few people who are “incredibly biased” and “not accountable to anyone else.”

He has been referring here to David Gerard specifically whose anti-crypto behavior Hoskinson said is “going on for years,” since the Ethereum days.

Hoskinson might be the latest one to complain about the “non-coiner” but not the only one, as in the past Decred had a similar issue.

Hoskinson says it’s unfair when they have been mentioned by the US Congress, as the “most cited of all the peer views,” and “historically have had a market cap larger than SpaceX.”

Just warning about “ridiculous steaming shitpile”

While replying to a Twitter user, Hoskinson argues that Cardano’s competitors that are much smaller in size, have pages while they are not allowed to have is “censorship.”

He further said Wikipedia “won’t explain the standard,” but Gerard refuted these claims by saying, “The problem is not that nobody told you, it’s that you didn’t like the answer.”

“These are comments directly from a Wikipedia editor commercially censoring us. He also wrote an anti-crypto book. But I’m sure he’s being fair and balanced about Cardano content,” pointed out Hoskinson on Gerard’s comment that “the (crypto) space would best be advanced by not existing,” and as such he is “warning others about the ridiculous steaming shitpile.”

Meanwhile, Wikipedia highlights that individuals with a conflict of interest are “strongly advised not to directly edit the article.”

Read Original/a>
Author: AnTy

IOHK Releases Ouroboros Hydra Protocol to Improve Micropayments on Cardano Network

The IOHK blockchain technology company led by Charles Hoskinson, the Ethereum co-founder, has announced on March 25 the Ouroboros Hydra, its second-layer Cardano blockchain scalability solution.

The Hydra protocol is going to improve the scalability of Cardano, which means it’s going to perform more transactions at lower fees, making it easier for the blockchain applications to operate and encouraging the use of the network. Here’s what the director of Edinburgh University’s Blockchain Laboratory, Aggelos Kiayias, explained what solving scalability could mean:

“Solving the scalability question is the holy grail for the whole blockchain space. The time has come to apply a principled, evidence-based approach in designing and engineering blockchain scalability solutions and this research is a decisive step in this direction.”

Hydra Will Improve Cardano’s Functionality

As a second layer blockchain scalability protocol, Hydra will be on top of other Cardano main protocols and improve the network’s functionality. Its name, Ouroboros Hydra, comes from Greek mythology and has a meaningful resonance because the system’s protocol has each user of the network generating 10 additional heads. Each of these heads will bring a new throughput lane for transactions and data, this way making the blockchain faster with scales. Here’s what Charles Hoskinson had to say about the new protocol:

“Once implemented, it [Ouroboros Hydra] will allow the Cardano blockchain platform to scale to process more transactions than any other blockchain or traditional payment system.”

1,000 Transactions per Second on Each Head

The simulations conducted by the University of Edinburgh revealed that there can be 1,000 transactions per second on each head, which means 1,000 heads can scale 1 million transactions per second. In the last few years, the Hydra project received funds from the EU’s Privilege Project, as it has united researchers in distributed ledger technologies cryptography from all over Europe.

Cardano’s ADA Price to Remain the Same

Cardano’s ADA didn’t meet any change in its price as a result of this news being released. It’s still on the 15th position according to market capitalization, at 1.81% on the day and trading for about $0.029, CoinMarketCap says. Until now, blockchains have struggled to scale and at the same time to not compromise centralization, but it seems Cardano comes to change the game completely.

Read Original/a>
Author: Oana Ularu

Cardano (ADA)’s Charles Hoskinson Believes Bitcoin Will See $100,000, Calls Crypto “Unstoppable”

  • Charles Hoskinson was the co-founder of Ethereum, and he created the Cardano crypto asset.
  • Presently, Bitcoin is worth $7,308.90, gaining over 1% in the last 24 hours, though it fell below $7,000 yesterday.

Bitcoin has gone through quite a bit of turmoil in the last few years, but there are many advocates that believe that it will come back. Though many analysts have made bold predictions, Ethereum co-founder and creator of Cardano Charles Hoskinson has his own, believing that Bitcoin will be able to surpass the $10,000 price level again. In fact, he also believes that Bitcoin will ultimately reach $100,000 as well.

Hoskinson posted to Twitter on November 22nd about this matter, stating that the original cryptocurrency is more than just speculation. He added that the media attention on price drops has led to “FUD” (fear, uncertainty, and doubt) in the market, which is what he blames for the manipulation in the market.

Since Hoskinson states that Bitcoin is more than the price movements it records, he says that Bitcoin will be seeing more gains as it ages. He remarked that cryptocurrency, overall, “is unstoppable” and it “is the future,” adding that Bitcoin will again reach $10,000 and will “welcome 100k.” Just last month, Hoskinson warned that, if Bitcoin was ever to fail, then it would take the rest of the cryptocurrency industry with it.

Cointelegraph recently reported that Bitcoin, along with the majority of altcoins, saw a massive price drop yesterday. Bitcoin price even dropped below $7,000, though it is presently sitting at $7,308.90. In the last 24 hours, it has gained 1.61%. Not long after the drop, Bakkt showed an all-time high for their Bitcoin futures daily volume, indicating that the renewed volatility has spurred more interest from investors.

Analysts with CoinTelegraph stated that the dominance for Bitcoin is actually up this week, recording 69%, which means that the decline hasn’t knocked Bitcoin down from outperforming other cryptocurrencies in the market.

Read Original/a>
Author: Krystle M

Cardano’s Shelley Update to be Released in Mid-September, First Stage Successful: IOHK’s Hoskinson

Charles Hoskinson, the CEO of IOHK – the leading development team of Cardano blockchain – confirmed the first stage of Shelley testing was successfully completed in an Ask Me Anything (AMA) session on YouTube on Aug 31. The team of over 50 developers working on the Shelley update will launch the second and final testing phases in the coming months.

Through 2019, the Cardano community has remained in suspense on the official launch of Shelley main net network. Finally, the update is set to be released in mid-September – subject to confirmation.

As BEG reported earlier the release of the Shelley update will be completed in three phases – the implementation and hosting of ‘selfnodes’, networking test and the incentivizing stage.

On to the Networking Test Net Stage

Hoskinson stated that the first stage of the Shelley update, implementation and hosting of personal nodes, was “very successful”. The development team found and fixed a number of bugs in the system during the testing phase and are now focusing on releasing the networking test net this month.

The IOHK co-founder switched to the networking phase of the Shelley update confirming the release will be in the second week of this month. He further explains that the networking phase will allow users to stake their ADA tokens and connect to the main network.

Hoskinson said,

“In the networking test, where we actually have people connect to a unified test net and do some form of staking. So everything that you’d want to do with Shelley, was done now for instead on your PC, on a distributed system.”

Once the networking phase is complete, Cardano holders will be able to stake their tokens in pools to gain additional revenue in the network. The launch of the third and final stage of the Shelley update – incentivizing stage – is set to launch immediately after the completion of the networking phase. The launch is set to coincide with the second anniversary of Byron update.

After the announcement of the upcoming developments by Hoskinson during the AMA, some community members turned to mock the overall announcement. Charles on Twitter responded to these ‘trolls’,

“It’s amazing to me how some people are incapable of even understanding a simple statement. I didn’t make an announcement of an announcement in my AMA. I announced the next phase of the test net in September and an event in Bulgaria on the 28th. How is this no announcement!?!?”

Earlier in August, Hoskinson released the 1.6 Cardano blockchain update that featured an updated version of the Daedalus platform.

Read Original/a>
Author: Lujan Odera