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What Is Cardano – The Complete Guide To ADA

What Is Cardano – The Complete Guide To ADA
Article published by In 2018 new cryptocurrencies and projects have appeared. One of the most interesting ones to emerge is Cardano, but what is Cardano? In this article we will explain step by step what this new project is about and why it’s considered one of the most interesting news topics in the crypto world.

What is Cardano ?

Cardano is a new smart contract platform, very similar to Ethereum which offers more scalability and security than the first virtual platform thanks to its layered structure. Cardano has been invented by Charles Hoskinson who co-founded Ethereum. While Ethereum is one of the second generation cryptocurrencies and has its limits, Cardano is born with the goal the improve the Ethereum concept and become the perfect form of a smart contract platform. There are 3 different organisations fully working on the Cardano development:
  • The Cardano Foundation
  • IOHK
  • Emurgo
IOHK is the company founded by Mr. Hoskinson with Jeremy Wood with the goal to develop new financial services using the blockchain technology. Emurgo is a Japanese company which incubates commercial ventures with the goal to revolutionize their industries through the use of blockchain technology. These three companies ensure that the development of Cardano is not just in the hands of one company alone unlike other cryptocurrencies.

Okay, so what is Cardano exactly?

Cardano is a smart contract, so it allows a situation where two people can exchange some cryptocurrencies (i.e. Bitcoin), whilst also having some conditions to respect. For example: Mr. White gives 10 Bitcoins to Mr. Green, but Mr. Green has to achieve some goals to respect the deal (smart contract). A smart contract however has some limits:
  1. Scalability
  2. Interoperability
  3. Sustainability
Cardano’s goal is to be the smart contract without any of the three limitations. Let’s go through what is Cardano main contract points:
  • Separation in different layers;
  • Development of a decentralized funding mechanism for future work;
  • Long-term view;
  • Bringing stakeholders closer to the operations and maintenance running of Cardano;
  • Finding a healthy middle ground for regulators to interact with commerce without compromising some blockchain core principles.

1- Cardano’s elements: Scalability

Scalability is a very difficult concept, but we will try to make it as simple and understandable as possible. What makes Cardano unique is its layered structure. This structure is very relevant to make Cardano scalable. The security of its transactions, or better the transactions happening on its platform, are secured by different controls and processes happening across different layers where the information is not shared from one layer to an other. To understand better the concept picture a string and divide it in 3 different parts. When a transaction moves from the end of the first part and enters into the second part, the information gathered and controlled in the first part will remain there and in the second part the transaction will be processed under a new independent system. This is a new concept because in Ethreum at the moment the security controls are made just in one single phase, so only 1 string – not divided.

2- Cardano’s elements: Interoperability

One of the most problematic topics related to blockchain and mainly ICOs last year were compliance and communication with external entities to blockchain. For intance when a transaction was made, and a person exchanged Bitcoins to Ethereum or viceversa, it was really difficult to know where those coins came from because of the privacy concept behind cryptos; and above all it is very difficult to communicate between systems which speak a different language (codes). Along with this concept, there is still a real divide and difficulty in communication between real entitites (i.e. banks) and virtual entities. This case has become very evident with ICOs: when investors want to fund an ICO and buy some of their Tokens in exchange of money, then for the ICO is very difficult to store the fund in a bank without giving an explanation where that money comes from. As we know, this last point is almost impossible to do in the crypto world where everything is decentralized and private, (there is no need to share own anagraphic datas and documents to trade and own cryptocurrencies.) Cardano is aiming to solve this problem and become the platform where every crypto entity can openly communicate with each other and external entities too. On top of that it is also trying to conform to all the compliance rules existing: KYC (Know Your Customer), AML (Anti Money Laundering), ATF (Anti Terrorist Financing), etc. By doing this the platform is soon going to implement the meta-attribution of every transaction, which means knowing who is behind every trade in order to fulfill the above mentioned compliance rules.

3- Cardano’s elements: Sustainability

At the moment one of the biggest questions about Cardano is: what is Cardano ‘s future? How long is it going to be financed for? Today ICOs like Cardano are financed in 2 different ways:
  • by a number of different investors buying Tokens
  • by patronage(one single investor owning all the Tokens and financing the whole project)
In both these scenarios there are some issues, with patronage there is a centralized situation because everything is owned by one entity. Whereas with the former option there isn’t a real sustainable, long-term model. To find a solution for this, Cardano’s founders are going to introduce a new system: liquid democracy.

What is liquid democracy?

Liquid democracy allows people to vote or delegate their vote to approve the ownership of a block part of the chain. For instance when a block is added to the chain, part of it will be added to the treasury and it will be eventually owned by a person. This person can ask to buy it and the request will be granted or not by a liquid democracy vote. In this way it is possible to keep the concept of decentralization, ensuring that there are many different owners of the blocks, and at the same time having a limited number of them. It is the same concept we have in public companies, there is a vast but limited amount of stakeholders and to become one of them it’s necessary to be appointed by the board of directors’ approval.

What is Cardano price?

The Cardano ICO at the moment is worth 62 million dollars. It is possible to buy some tokens, called ADA, in most of the cryptocurrencies platforms. It is also possible to speculate on its price on many trading platforms. Today Cardano is still in development, but there are very good signals about its future: the concept behind it is very well thought out and elaborate. Its development is proceeding very well and the fact to have one the Ethereum co-founders behind it, ensures this project has full credibility.

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Tyler Winklevoss on BTC: FOMO yet to kick in

Tyler Winklevoss on BTC: FOMO yet to kick in

Quick take

1 minute read

  • One of the brothers of the well-known Winklevoss twins, Tyler Winklevoss has recently said that the spike in bitcoins price that brought it to $18,000 is not yet a FOMO price run. 
  • Speaking in a tweet, Tyler said that the spike in the bitcoins price was due to the steady hands in the overall crypto industry.

One of the brothers of the well-known Winklevoss twins, Tyler Winklevoss has recently said that the spike in bitcoins price that brought it to $18,000 is not yet a FOMO price run. Speaking in a tweet, Tyler said that the spike in the bitcoins price was due to the steady hands in the overall crypto industry. He added that this means many investors are on the sidelines and have yet to get fully involved.

For those that don’t know, FOMO (fear of missing out) is a term used in investments such as cryptocurrency to describe panic buying. When the price of bitcoin starts to rise, many people panic buying due to a fear of missing out.

Specifically, Tyler highlights the stable and steady search term popularity on Google for bitcoin indicating that a spike in Google searches for the leading crypto coin would be a big sign of FOMO kicking in but this has yet to happen.

If you take a look at the Google searches for bitcoin over the past year, it will indicate that the highest it has ever reached was in May this year when the coin hit a $10,000 for the second time in 2020. Since May, there have been numerous prices with fluctuations bringing the price down and up consistently.

Over the course of this year alone, bitcoin has been able to surpass numerous price key resistance levels. Many people believe that the coin is well on its way to $20,000 by the end of the year. Furthermore, institutional investment has been on the rise massively this year with bitcoin being on many corporate balance sheets. This has helped adoption as more people are getting involved with the industry on a daily basis.

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Ideaology's IEO Ushers the Launch of Blockchain Platform for Innovators

Ideaology's IEO Ushers the Launch of Blockchain Platform for Innovators

DUBAI, UAE - Ideaology is proud to announce its IDEA token pre-sale on December 1, 2020. The pre-sale event is an initial exchange offering (IEO) on P2PB2B exchange. Users will have a chance to purchase IDEA tokens with a 22% discount before the IDEA token public sale.

Ideaology aims to be the “Biggest Blockchain Ecosystem in 2021 and beyond''. Along with the pre-sale launch, Ideaology’s Active IDEA platform will have its beta launch on December 1, 2020 as well. The very existence of Ideaology is a testament to how the model it’s promoting works. With its upcoming IEO and subsequent launch on crypto exchanges, Ideaology’s Active IDEA aims to become the first blockchain-powered platform to pave the way for users to collaborate on promising blockchain projects while investing in these ventures as well. 

“Freelancers don’t necessarily work on online freelance platforms, and clients or companies don’t necessarily look for talents on those websites. Many of them are running their independent business from their websites or agencies, and looking for clients via advertisements, email marketing, leads generation, and other techniques. This is why we need to ask the question: why would a freelancer choose a website like Upwork, Fiverr, or Freelancer to sell his services when they can be part of a platform where they can offer their expertise and services on a platform specifically created for their exposure and convenience?” ,said Khaled Alkalbani, Founder and CEO at Ideaology. 

Whether you are an investor looking for the right project to pour your resources on, a business developer that needs funding to start his empire, or a digital nomad looking for a platform where you can provide meaningful services and earn, Active IDEA strives to be the go-to platform for all online professionals. 

Within the Active IDEA platform, members can collaborate as they invest and find projects that they have passion for. Members of the Ideaology community will be enabled to launch a startup through crowdfunding, but at the same time, will also have the opportunity to work with startups.The Ideaology team calls this whole process “collabvesting” - where Active IDEA users can invest in startups while also giving startups and freelancers to collaborate on projects.

“We believe that our IEO launch with P2PB2B enables Ideaology supporters and P2PB2B users to have a smooth and convenient experience in participating in our pre-sale for the IDEA token. We trust that P2PB2B will also offer a great IDEA token pre-sale experience for everyone interested to purchase IDEA tokens at an early stage.”, said Amar Kovacevic, Co-Founder and CTO at Ideaology.

By establishing a platform where online professionals can start collabvesting, and jumpstarting it with a pre-sale of their IDEA token, Ideaology just became one of the most promising blockchain companies in 2021 and beyond.

Click here to join the IDEA token pre-sale event.

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BTC/USD Trapped By Moving Averages: Sally Ho's Technical Analysis 29 November 2020 BTC

BTC/USD Trapped By Moving Averages:  Sally Ho's Technical Analysis 29 November 2020 BTC

Bitcoin (BTC/USD) traded sideways early in today’s North American session as the pair appreciated to the 18248.21 area trading as low as the 17535.26 area in the Asian session, with the intraday low representing a test of the 38.2% retracement of the recent depreciating range from 19500 to 16200.  Traders observe that BTC/USD’s upside was capped by the 200-hour simple moving average during the European session, and supported around the 23.6% retracement of the depreciating range from 18980 to 17610.77 early in the North American session.  Also, the 50-bar 4-hourly simple moving average provided technical resistance during the North American session, and the intraday high also represented a test of an upside price objective around the 18256.14 area.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory and establish a new all-time high, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 18204.22 and the 200-bar MA (Hourly) at 18235.20.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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ETH/USD Orbiting 551.65 Retracement Level: Sally Ho's Technical Analysis 29 November 2020 ETH

ETH/USD Orbiting 551.65 Retracement Level:  Sally Ho's Technical Analysis 29 November 2020 ETH

Ethereum (ETH/USD) traded sideways early in today’s North American session as the pair appreciated to the 558.68 area after trading as low as the 531.00 area in the Asian session, a test of the 50% retracement of the appreciating range from 439.77 to 623.22.  Traders are observing that ETH/USD is tightly oscillating around the 551.65 area, representing the 50% retracement of the depreciating range from 623.22 to 480.08.  The next upside retracement levels in this range include the 568.54, 589.44, and 592.59 levels.   The recent pullback was a test of the 479.03 area, representing the 78.6% retracement of the appreciating range from 439.77 to 623.22.  One level that traders are carefully monitoring is the 503.57 area, a level that represents the 38.2% retracement of the recent appreciating range from 310.00 to 623.22, and price activity was recently buoyed above this area.  Stops were recently elected below a series of retracement levels including 579.73, 563.58, 553.14, 531.50, 526.88, 509.85, 496.86, and 483.06. Larger Stops were elected below the 550.01 and 504.72 areas, retracement levels related to the wider appreciating range from 313.00 to 623.22.  On the upside, Stops were recently elected above the 615.19 area during the climb higher, an upside price objective related to buying activity that originated around the 142.10 level earlier this year.  The pair’s next upside price objectives include the 637.79, 668.87, 679.78, and 698.88 levels.   Traders are also paying close attention to technical resistance around the 627.83, 638.28, and 652.36 areas. 

Stops were also recently elected above the 583.59 and 592.24 areas during the ascent, retracement levels related to selling pressure that commenced around the 894.50 and 1419.96 levelsStops were also recently elected above the 519.16, 521.13, 524.97, and 540.64 areas during the ascent higher, preceded by Stops triggered above the 503.54, 508.69, and 510.22 levels.  During pullbacks lower, traders are paying close attention to the pair’s trading activity around the 461.31 area, an upside price objective related to buying pressure that emerged months ago around the 125.52 area.   Some additional downside retracement levels include 432.71, 431.36, 427.78, 424.14, 422.81, 419.74, 415.20, 411.91, and 408.12. Additional areas of potential downside support include the 400.56, 395.87, 387.62, 380.03, 377.17, 367.24, 366.72, 354.44, and 353.78 areas.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 554.10 and the 200-bar MA (Hourly) at 553.94.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 627.83/ 637.79/ 668.87 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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