https://localbitcoinswiki.com Crypto News Sun, 13 Mar 2022 08:08:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.2
https://localbitcoinswiki.com/cardano-to-introduce-peer-to-peer-lending-platform-in-africa/ https://localbitcoinswiki.com/cardano-to-introduce-peer-to-peer-lending-platform-in-africa/#respond Eric McGinnis Sun, 13 Mar 2022 07:46:28 +0000 Cardano (ADA) News Crypto News https://localbitcoinswiki.com/?p=680
Cardano network founder Charles Hoskinson has shown a great interest in introducing blockchain innovations in African nations. The latest advance in this respect is the presentation of a new P2P lending option on the network. The head of operations for...
The post Cardano to Introduce Peer-to-Peer Lending Platform in Africa first appeared on Local Bitcoins Wiki .
Cardano network founder Charles Hoskinson has shown a great interest in introducing blockchain innovations in African nations. The latest advance in this respect is the presentation of a new P2P lending option on the network. The head of operations for IOHK, John O’Conner, in Africa recently briefed the Twitter followers about their new product.
Conner claimed that at present, the first rounds of business loans are already distributed to the SMEs operating in Kenya. He further added that there is a massive development potential of the technology that is still untapped. According to his recent tweet, with the help of the Cardano network, the startups and new entrepreneurs in Africa will soon be able to get funding for their projects.
RealFi is a novel concept introduced by Cardano that plans to narrow the gap between real-world banking channels and cryptocurrency liquidity pools. Conner claimed that the people using the Cardano network would be able to earn and generate yield on their reserves by lending across international borders. The RealFi concept was first introduced by Charles Hoskinson this year.
He claimed that with P2P lending, the economic development gap of the developing countries and the lack of industrialization would improve. He claimed in a recent YouTube video that his ultimate goal is to connect all the features available on the Cardano network and put together a decentralized microfinance network on Cardano.
A vast majority of the African nations do not have access to basic banking facilities or resources like electricity. Hoskinson claimed that with the help of the peer-to-peer Cardano network, a person sitting in the western bloc would be able to review a loan application from a Kenyan citizen. The Cardano network lending platform will also keep a transparent and viable credit score for each loan applicant.
He claimed that it is possible with the integration of stablecoins and claims that it will bring prosperity and financial independence to the African citizens. During the last year, the Cardano network signed contracts with several African nations like Ethiopia, Kenya, and Tanzania to upgrade the local education system, among other projects.
The post Cardano to Introduce Peer-to-Peer Lending Platform in Africa first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-to-introduce-peer-to-peer-lending-platform-in-africa/feed/ 0https://localbitcoinswiki.com/cardano-founder-charles-hoskinson-rejects-theranos-comparisons/ https://localbitcoinswiki.com/cardano-founder-charles-hoskinson-rejects-theranos-comparisons/#respond Eric McGinnis Tue, 08 Mar 2022 08:06:45 +0000 Cardano (ADA) News Crypto News https://localbitcoinswiki.com/?p=670
Theranos was a massive scam project initiated by 19-year old Elizabeth Holmes. Holmes initiated a biotechnology project that promised to revolutionize the blood-testing industry. She was able to gather hundreds of millions in funds from major financial investors. However, her...
The post Cardano Founder Charles Hoskinson Rejects Theranos Comparisons first appeared on Local Bitcoins Wiki .
Theranos was a massive scam project initiated by 19-year old Elizabeth Holmes. Holmes initiated a biotechnology project that promised to revolutionize the blood-testing industry. She was able to gather hundreds of millions in funds from major financial investors. However, her project never bore any real fruit and remained very secretive.
Eventually, the Securities and Exchange Commission intercepted the operations and charged Holmes with a lawsuit. In January this year, Holmes was found guilty of scamming investors. Cardano, a blockchain project, has been facing similar allegations on social media platforms. Cardano founder Charles Hoskinson recently issued a statement to respond.
Charles Hoskinson decided to address the Theranos allegations postulates that the issue is big enough for the network founder to talk about. Hoskinson recently exclaimed that the Cardano network is an open-sourced project that anyone can check at any given time. He further explained that projects like Mina Protocol and Polkadot have taken reference from the Cardano whitepapers.
He clarified that if the Cardano network was a scam it would keep its procedures secret and would not share any details with its developers and users. However, recently Cardano network has decided to affiliate with Metaverse which is notoriously criticized by the IT community. Hoskinson claimed that Holmes was able to get away with the massive scam since people were eager for a female Steve Jobs.
In recent weeks, an antagonist movement against the Cardano network has gained traction on social media platforms. The detractors are alleging that Cardano is vaporware and using intense hype techniques to remain afloat. However, Hoskison retorts that recently trading volume at the Cardano blockchain surpassed Bitcoin and Ethereum activity.
Crypto market analysts at Finders recently claimed that the ADA token has a chance to reach $2.79 before the end of the current year. On the other hand, Cardano network developers are working on launching their second DEX project this month.
The post Cardano Founder Charles Hoskinson Rejects Theranos Comparisons first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-founder-charles-hoskinson-rejects-theranos-comparisons/feed/ 0https://localbitcoinswiki.com/cardano-developers-are-trying-to-add-a-new-peer-to-peer-protocol-to-the-network/ https://localbitcoinswiki.com/cardano-developers-are-trying-to-add-a-new-peer-to-peer-protocol-to-the-network/#respond Eric McGinnis Tue, 15 Feb 2022 16:47:01 +0000 Cardano (ADA) News Crypto News https://localbitcoinswiki.com/?p=582
During the current year, Cardano network developers managed to introduce and implement smart contracts capabilities on the network with success. However, the roadmap for the blockchain has many more important milestones to achieve. Recently, Cardano developers have launched a new...
The post Cardano Developers are Trying to Add a New Peer-to-Peer Protocol to the Network first appeared on Local Bitcoins Wiki .
During the current year, Cardano network developers managed to introduce and implement smart contracts capabilities on the network with success. However, the roadmap for the blockchain has many more important milestones to achieve. Recently, Cardano developers have launched a new testnet.
As mentioned in a new blog post on IOG, the testnet is for a new peer-to-peer protocol for the Cardano network. At this stage, a selected number of pool operators can access the network and test its various functions while removing any possible bugs. The main purpose of the P2P feature is to increase decentralization.
At this point, the Cardano network is hosting around 3000 unique staking pool operators or SPOs. All of these SPOs are directly responsible for the distributed nodes for powering the blockchain. With the introduction of pool operators, direction interaction before integration will be possible at the discretion of the participants.
According to the Cardano developers, the need to establish better communication paths between the nodes inspired the P2P project. The alternative and current decentralization algorithm for Cardano is Ouroboros. Once the P2P protocol is ready for a pilot run, it will be included in the master node branch.
The smart contract capability is acting like a grappling hook that the Cardano developers are using to add more features to the network. A recent statement from IOG on the P2P nodes stated that with the new streamlined communication channels, it would be possible to keep powering the network without interference from a federated relay.
The statement also clarified that with the new nodes distribution mechanism, the selection of peers would be automated and allow Cardano to become more decentralized intrinsically. During the current month, the Cardano network announced that the recorded total number of smart contracts projects running on Plutus had reached 888. However, developers have made it clear that despite the testnet, P2P will not go live on the blockchain this year.
The post Cardano Developers are Trying to Add a New Peer-to-Peer Protocol to the Network first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-developers-are-trying-to-add-a-new-peer-to-peer-protocol-to-the-network/feed/ 0https://localbitcoinswiki.com/cardano-network-to-introduce-erc-20-converter-testnet/ https://localbitcoinswiki.com/cardano-network-to-introduce-erc-20-converter-testnet/#respond Eric McGinnis Tue, 18 Jan 2022 06:17:48 +0000 Cardano (ADA) News Crypto News https://localbitcoinswiki.com/?p=515
The Cardano network developers have recently introduced ERC-20 token converter testnet on the network. The ERC-20 token is a Fungible token standard called Ethereum Request for Comment assigned 20th place and it allows the tokens to become identical with each...
The post Cardano Network to Introduce ERC-20 Converter Testnet first appeared on Local Bitcoins Wiki .
The Cardano network developers have recently introduced ERC-20 token converter testnet on the network. The ERC-20 token is a Fungible token standard called Ethereum Request for Comment assigned 20th place and it allows the tokens to become identical with each other in terms of value and type.
Cardano network founder and IOHK-CEO has made it official that the ERC-20 token converter is already in action on the ecosystem. He further explained that even the non-developing investors are going to access the converter with the help of a URL. He also clarified that the investors will have the option to send their converted tokens to a new wallet address or transfer to a Metamask account.
As noted by Hoskinson, the new ERC-20 converter makes use of SingularityNET and its native token AGIX. SingularityNET is a decentralized AI Corporation and coordination bridge. With the integration, the testnet users can access the wider permission network to transfer their tokens between Cardano and Ethereum networks.
However, Hoskinson has also warned the investors that the ERC-20 token converter is only in its initial phase and it can contain some bugs that require fixing. One Cardano investor pointed out the issue relating to the gas fee when deploying the converter recently.
David Hanson is the founder of a popular AI robot called Sophia and is also the mind behind SingularityNET. In a Whitepaper published by the official development team behind the SingularityNET project, it was mentioned that basically, it is a smart contracts template and AI agents use this channel to interact, exchange information, and produce the best output for their AI services.
Some Cardano experts ponder if the blockchain network has broader plans to fund and develop AI technology with the ecosystem. However, Cardano developers have not suggested any ideas thus far.
The post Cardano Network to Introduce ERC-20 Converter Testnet first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-network-to-introduce-erc-20-converter-testnet/feed/ 0https://localbitcoinswiki.com/cardano-kusama-and-polkadot-rank-as-most-developed-cryptocurrencies-in-2021/ https://localbitcoinswiki.com/cardano-kusama-and-polkadot-rank-as-most-developed-cryptocurrencies-in-2021/#respond Peter Carr Fri, 31 Dec 2021 20:23:28 +0000 Cardano (ADA) News Crypto News Exchanges and Brokers (Reviews and News) Price Analysis https://localbitcoinswiki.com/?p=482
Cardano, Kusama, and Polkadot were placed first, second, and third, respectively, in a ranking of the greatest twenty initiatives by consolidated project implementation predicated on openly accessible Github data for 2021. Ethereum is listed as the fourth most evolved cryptocurrency,...
The post Cardano, Kusama, and Polkadot Rank as Most Developed Cryptocurrencies in 2021 first appeared on Local Bitcoins Wiki .
Cardano, Kusama, and Polkadot were placed first, second, and third, respectively, in a ranking of the greatest twenty initiatives by consolidated project implementation predicated on openly accessible Github data for 2021. Ethereum is listed as the fourth most evolved cryptocurrency, whereas Gnosis is the fifth greatest advanced cryptocurrency.
The conclusions were drawn from Santiment’s analysis of production data from tons of public Github repositories. To prevent inflating development activity, the developmental data used was stripped of several ‘non-development activities,’ such as commit comments, persons tracking an issue, installing upgrades, and so on. Santiment analysis the amount of active volunteers to any program’s Github repo, in addition to ‘pure’ project implementation, for wider views into their ‘developer ecosystem.’
It is a 3rd-generation network that was released in 2017. It follows BTC and ETH, which were among the 1st and 2nd-generation blockchains, respectively. Cardano is a decentralized application framework that attempts to contend immediately with ETH as well as other decentralized application systems, claiming to be a more accessible, safe, and effective option.
Cardano is ranked first among the top twenty initiatives by consolidated development effort, based on Santiment Data. Cardano also took first position in the number of active Github collaborators over the last year, including an average of fifty-three daily contributions to their Github repository.
As previously reported by U.Today, IOHK CEO Charles Hoskinson claims that Cardano includes approximately one hundred and seventy eight projects established on its website since 1st January; 13 projects have been released this quarter, and 3 are set to debut in the fourth quarter.
Shortly after KSM made its appearance on the Exchange, its first big surge came. Around April & May, its price rose from $2 to $7 — a hike which displayed a huge amount of initial investors’ interest in the cryptocurrency market analysis. Between October and December 2020, its price leaped up from $27 to $62.
Apparently, the value of the Kusama token has fluctuated dramatically from the commencement of 2021, ranging from $70 to $623. As a result, buyer trust in Kusama grew, and the token saw a significant increase in velocity. Kusama reached a new ATH of $623 in the last month. The KSM coin, meanwhile, experienced a substantial price decrease to $262 after reaching an ATH. Based on the data, several transactions took place, and so much money switched ownership.
By attaining heights beyond the ATH, the DOT cryptocurrency value was projected to get a successful December transaction. However, the token was constrained by confused economic emotions, causing the value to plummet 43 percent from its highs. From the commencement of 202, the token has appeared to be very confident in a significant bull run, and it’s presently strapping up to achieve a major bullish year-end close.
Meanwhile, the token might confront a large bearish ambush that must be avoided as soon as possible. Otherwise, it will be challenging for the value to maintain its trembling state. Fortunately, the DOT network appears to be fully cognizant of the impending impediment and is working hard to alleviate the potentially catastrophic scenario.
The post Cardano, Kusama, and Polkadot Rank as Most Developed Cryptocurrencies in 2021 first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-kusama-and-polkadot-rank-as-most-developed-cryptocurrencies-in-2021/feed/ 0https://localbitcoinswiki.com/cardano-community-is-celebrating-another-milestone-as-network-has-successfully-conducted-20-million-transactions/ https://localbitcoinswiki.com/cardano-community-is-celebrating-another-milestone-as-network-has-successfully-conducted-20-million-transactions/#respond Eric McGinnis Thu, 23 Dec 2021 16:00:46 +0000 Cardano (ADA) News Crypto News https://localbitcoinswiki.com/?p=423
Cardano network has been active on several social media platforms. The founder of Cardano blockchain, Charles Hoskinson, also hosts a private YouTube channel, where he addresses the users regarding different topics related to the blockchain. In the same manner, the...
The post Cardano Community is Celebrating Another Milestone as Network has Successfully Conducted 20 Million Transactions first appeared on Local Bitcoins Wiki .
Cardano network has been active on several social media platforms. The founder of Cardano blockchain, Charles Hoskinson, also hosts a private YouTube channel, where he addresses the users regarding different topics related to the blockchain. In the same manner, the Reddit community for Cardano has recently started to grow at a steady pace.
As pointed out by one Reddit poster, the Cardano blockchain has now crossed another milestone after successfully conducting more than 20 million transactions. The Reddit users also pointed out that the blockchain has not suffered from a major crash or hacked in 1500 days of its launch. However, one Reddit contributor claimed that the network suffered a minor crash once in April, which affected its transaction capabilities temporarily.
CryptoGlobe recently published a data report that reveals that the total number of unique wallet addresses on the Cardano blockchain has fallen back to 200K. However, the same report also clarifies that in peak season, new address registration for Cardano blockchain went from 150K to 480K per day.
The same can be said for the staking addresses on the ecosystem. CryptoGlobe report notes that in the span of 60 days, total staking addresses on Cardano reached 100,000 distributed between 2,957 pools. As of now, 72% of the total circulating supply of ADA is staked and valued at $37.67 billion at current market value. The statistics indicate that Cardano was able to compete against giants like Ethereum network, Binance Smart Chain, Solana network.
The data projections shared by CryptoCompare indicate that the price momentum of Cardano native token ADA has continued to plummet. A week ago, the news of taper by the Federal Reserve and the discovery of a new COVID variant created a correction wave across the cryptocurrency market. However, entering December, most altcoins started to show signs of recovery.
Meanwhile, ADA prices kept decreasing and reached $1.57. Nevertheless, the Cardano investors are positive that a new bullish streak will soon develop for the token due to the new borrowing and lending projects that are ready to go live on Cardano. Additionally, Cardano has managed to surpass Ethereum in terms of daily trading volumes by facilitating $18.24 billion in comparison to $9.3 billion for the latter.
The post Cardano Community is Celebrating Another Milestone as Network has Successfully Conducted 20 Million Transactions first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-community-is-celebrating-another-milestone-as-network-has-successfully-conducted-20-million-transactions/feed/ 0https://localbitcoinswiki.com/price-analysis-shows-cardano-may-end-up-around-1-per-ada/ https://localbitcoinswiki.com/price-analysis-shows-cardano-may-end-up-around-1-per-ada/#respond William Cook Fri, 10 Dec 2021 11:05:05 +0000 Cardano (ADA) News https://localbitcoinswiki.com/?p=308
It was on December 3, 2021, when Cardano (ADA) experienced a downtrend in terms of its unit price. The performance graph for Cardano from CoinGecko shows that the price for the digital ended up turning down on the 3rd of...
The post Price Analysis Shows Cardano May End up Around $1 per ADA first appeared on Local Bitcoins Wiki .
It was on December 3, 2021, when Cardano (ADA) experienced a downtrend in terms of its unit price. The performance graph for Cardano from CoinGecko shows that the price for the digital ended up turning down on the 3rd of December.
On a particular day, the price of Cardano went below the 20-day EMA, which at present is represented by the $1.63 per ADA figure. This goes to show that the ball is in the court of the bears. Cardano is still looking at a negative trend and the investors are still bearish against it.
The digital asset is currently out of the bullish zone and the investors are not willing to risk their funds given the current market situation of ADA. Even now, Cardano is struggling to turn its trend from bearish to bullish.
The current trend for Cardano shows that the investors (bears) are selling ADA the moment it hits a small rally. The bears aren’t even letting ADA build a strong rally that may help its price grow higher.
As of now, the behavior of the investors means that they have negative sentiments about the price of ADA. It is due to the negative sentiments the price of ADA is below the 20-day EMA.
The performance chart for Cardano shows that starting from December 3, 2021, the selling for ADA intensified on December 4, 2021. It was on the particular day when Cardano’s price plunged at a larger rate. On that particular day, its price plunged all the way down to $1.18 per ADA.
For Cardano, falling below the $1.18 per ADA figure was the point where the bulls tried their best to fight off the bearish trend. The bulls started rallying on the dip and bought as much dip as they could to push the price of ADA in the upward direction.
Despite the efforts, the bulls weren’t able to make it happen and the price of ADA is still facing a bearish trend.
Keeping the current trend in mind, the analysts predict that the bears will carry on with their efforts to push the price of ADA even low. As of now, the $1 per ADA price is considered the strong support zone for ADA. For now, the bears are trying their best to push the price of ADA below the $1.18 per ADA price.
If the price of ADA falls below the $1.18 per ADA figure, the bulls will try their best not to let it fall all the way down to $1.00 per ADA.
The bulls will try and use all their power to push the price of ADA higher and bring it closer to the 20-day EMA. If that happens, then it would mean that the bulls may have won the first war against bears.
The post Price Analysis Shows Cardano May End up Around $1 per ADA first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/price-analysis-shows-cardano-may-end-up-around-1-per-ada/feed/ 0https://localbitcoinswiki.com/cardano-co-founder-charles-hoskinson-says-the-us-needs-a-new-approach-to-regulate-crypto/ https://localbitcoinswiki.com/cardano-co-founder-charles-hoskinson-says-the-us-needs-a-new-approach-to-regulate-crypto/#respond Eric McGinnis Wed, 01 Dec 2021 23:12:07 +0000 Cardano (ADA) News Cryptocurrency Regulation News https://localbitcoinswiki.com/?p=215
Cryptocurrencies are a novel form of financial transaction that is new for even the top experts in the industry. Therefore, many technical experts have claimed that the government can’t monitor and regulate digital assets with the set of skills and...
The post Cardano Co-Founder Charles Hoskinson Says the US Needs a New Approach to Regulate Crypto first appeared on Local Bitcoins Wiki .
Cryptocurrencies are a novel form of financial transaction that is new for even the top experts in the industry. Therefore, many technical experts have claimed that the government can’t monitor and regulate digital assets with the set of skills and legislative bodies that are designed for stocks and commodities. Charles Hoskinson, the CEO of IOG, seems to agree with the idea, and he shared his thoughts with journalists in a recent interview.
The statement from the Thinking Crypto podcast indicates some interesting ideas that Hoskinson holds regarding cryptocurrency regulations. He claimed that the US government needs to review the existing financial regulatory instruments and tools at their disposal. He further added that there is a requirement for moving from a definitional system to a functional system for digital asset regulation.
Reflecting on the matter of cryptocurrency regulations, Hoskinson claimed that the current regulatory tools that are available to the government are outdated and they are not sufficient for sizing up the digital asset market. He further added that current regulators are looking to classify the different types of cryptocurrencies through the laws that are made for stocks and trade commodities.
He explained that there is no real legal definition for ascertaining if a digital asset is a security or a commodity within the current regulatory framework. Hoskinson pointed out that the regulatory agencies are specialized and operate without transparent sharing of information. He presented the example of CFTC that is dedicated to the matters of regulating commodities, and the SEC that only has authority over securities and stock trading.
Hoskinson pointed out during the interview that current regulating agencies like SEC and CFTC depend on their intermediaries for reporting any illegal activity. He further claimed that the IRS is unable to detect any issues with a financial transaction channel unless a bank or any other financial intermediary reports it first.
He, therefore, concluded that the government needs to upgrade and look for a regulatory protocol development that can be added to the blockchain transactions directly. Therefore, it will remove the need for middlemen, and the state will be able to conduct direct surveillance on the digital transactions. However, some cryptocurrency experts claim that such an idea goes against the autonomy and decentralization ideology that the blockchain is founded on.
The post Cardano Co-Founder Charles Hoskinson Says the US Needs a New Approach to Regulate Crypto first appeared on Local Bitcoins Wiki .
https://localbitcoinswiki.com/cardano-co-founder-charles-hoskinson-says-the-us-needs-a-new-approach-to-regulate-crypto/feed/ 0