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Landmark Day Marking Cardano’s Full Decentralization Is Almost Here

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Landmark Day Marking Cardano’s Full Decentralization Is Almost Here

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Cardano is fast approaching one of the important days in its history: March 31. On this day, the Ethereum challenger will become fully decentralized, delegating all the block generation to its community pools.

Cardano has been working towards becoming fully decentralized for eight months now. In July last year, the project launched the Shelley update, becoming a proof-of-stake blockchain platform. However, at the time, all the block generation was handled by federated nodes owned by IOHK, the company behind the project. This led to concerns over its centralization.

However, as IOHK notes in a new blog post, the landmark day marking Cardano’s decentralization is almost here. On March 31, the company will delegate 100% of the projects’ transaction processing to the community.

In the post, Colin Edwards, a Quantitative Strategist with IOHK stated, “At the end of March, we’ll reach another significant milestone for Cardano when we’ll see d, the parameter that governs what percentage of transactions are processed by the genesis nodes, get to zero. At this point, responsibility for block generation will be fully decentralized. In other words, Cardano’s network of 1800+ community pools will be solely responsible for producing blocks.”

Since deploying the Shelley update in July, IOHK has been reducing the percentage of transactions it processes. It did this at a rate of 0.02 for every 2% increase in community block production every 5 days. Currently, the community pools are processing 88% of all transactions.

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NFTs, Mary Update Push ADA Price Up

Cardano has become one of the most vibrant crypto projects in the past year. IOHK has been implementing a series of developments as it seeks to create “the most decentralized and economically sustainable ecosystem of stake pools.” As Edwards observed in the blog post, IOHK intends on continuing to evolve the project in the future. 

Cardano has also been implementing updates that have made it a strong competitor to the more-established Ethereum. On March 1, it launched the Mary hard fork, allowing users to create tokens on its network. According to Charles Hoskinson, the founder of IOHK, there are now over 400 tokens running on Cardano.

Hoskinson also revealed that Cardano will be launching NFTs soon. He added, “It’s one of several of the critical infrastructure pieces of products that we’re building and we’ll announce a little bit more about that. […] Bubble or not, it’d be nice to have it. There are so many gifted artists and game developers who have reached out to us.”

The ADA token has been one of the biggest beneficiaries of the positive developments. ADA opened the year at $0.18 before shooting up to hit its all-time high at $1.49 a week ago. It has since then retraced but is still trading above $1.

Landmark Day Marking Cardano’s Full Decentralization Is Almost Here
ADAUSD Chart By TradingView

According to a Dubai-based finance firm, ADA will shoot up 2,000% in the next 2-3 years. FD7 Ventures published its analysis in which it claims ADA, Polkadot (DOT) and Ethereum (ETH) have the biggest potential to shoot up. 

Prakash Chand, a managing partner at the firm commented, “In my opinion, these 3 projects are going to start disrupting industries across the board—from Healthcare to Real Estate to Financial. As a technologist I strongly do feel ADA, DOT, and ETH have greater potential to change the world with meaningful projects.”


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

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Source: https://zycrypto.com/landmark-day-marking-cardanos-full-decentralization-is-almost-here/

Blockchain

Real Estate Giant Teams up with Gemini to Buy Bitcoin and Allow BTC Rent Payments

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Caruso, one of the largest estate companies in the US, has entered the BTC space with an undisclosed investment. The organization also revealed it will begin accepting bitcoin as payment for rent following a partnership with Gemini – the cryptocurrency exchange founded by the Winklevoss twins.

Pay Rent with Bitcoin

Without specifying the precise amount, Caruso announced earlier that it had made a “significant initial investment” in the primary cryptocurrency as part of its treasury management strategy. The move has made the company “the first to adopt the technology in the real estate industry.”

The firm completed the purchase through a partnership with Gemini, a US-based cryptocurrency exchange and custodian. The innovation reinforced the company’s confidence in the digitizing space.

Additionally, the firm enabled its tenants to pay rent with bitcoin, should they choose to do so.

Rick Caruso, founder, and CEO of the company weighed in on the topic:


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”We believe that cryptocurrency is here to stay. We believe that bitcoin is the right investment for us. We’ve allocated a percentage of what would normally go into the capital market into bitcoin.”

The billionaire went further and stated crypto is a long-term resolution and ”it’s not about the next year or five years”.

”We are thrilled to partner with Caruso as they continue to push the real estate sector to new heights by embracing cryptocurrency for the benefit of both their customer experience and their own business operations. We are excited to help them execute their digital asset treasury strategy and advise them more broadly throughout their cryptocurrency journey.” – commented Gemini’s CEO Tyler Winklevoss.

The Los Angeles-based company has become a part of the growing institutional adoption of bitcoin around the globe. According to experts, companies like MicroStrategy, MassMutual, Tesla, and more are a vital factor behind BTC’s recent price increase.

Bitcoin as a Form of Payment

While Caruso may be the first firm from the real estate industry to adopt BTC as a payment method, companies from other sectors have well preceded it. Most recently, the popular NBA team Sacramento Kings said it will give the option to its players to receive their salaries in the primary cryptocurrency.

Another fresh example is the UK private jet company – PrivateFly. The organization revealed that nearly 20% of its yearly payments were paid in bitcoin.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/real-estate-giant-teams-up-with-gemini-to-buy-bitcoin-and-allow-btc-rent-payments/

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Blockchain

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

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Binance Coin registered huge gains in the past few weeks. BitTorrent Token could consolidate before seeing recovery, while Ontology could face selling pressure if it falls out of the rising channel it was trading within.

Binance Coin [BNB]

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

Source: BNB/USDT on TradingView

From March 25 to April 10, at the time of writing, BNB has climbed from $225 to $473. Using the Fibonacci tool for its move from $225 to $356, where BNB had faced some resistance in early April, extension levels were plotted. These levels have been reached, and more ambitious targets for BNB lie in the $550 region.

It is not out of the question that BNB reaches these levels, especially with the BNB quarterly burning set for later this month. On the hourly, the RSI continued to stay above neutral 50 to show an uptrend in progress, and no divergence was seen. The Stochastic RSI was dropping toward oversold territory.

BitTorrent Token [BTT]

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

Source: BTT/USDT on TradingView

On the hourly chart, BTT broke out of a descending channel but was rejected at the $0.01 resistance level. Sometimes, breakouts from descending channel consolidate within a range before reaching toward the peak of the channel.

This could be what is happening for BTT. It has resistance at $0.01 and support at $0.0075. The breakout point at $0.0085 is also likely to serve as support.

Trading volume was trending downward. The Awesome Oscillator showed bearish pressure was present, although it was not strong.

Ontology [ONT]

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

Source: ONT/USDT on TradingView

ONT was also trading within a channel, but this one was ascending. Again, the short-term outlook placed ONT right beside a level of importance. There was resistance for ONT at the $2.05 level, and support from the lower boundary of the rising channel.

ONT began trading within this pattern about three days prior to the time of writing. A session close beneath the channel would likely see ONT face further selling pressure to take it to the base of the channel at $1.72. THE OBV has been on an uptrend in recent days but the MACD was beginning to drop.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/binance-coin-bittorrent-token-ontology-price-analysis-10-april

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Blockchain

IOTA co-founder discloses Coordicide’s release date

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The cryptocurrency market has seen the altcoins surge despite the correction witnessed in the short term. IOTA, the altcoin ranked 27th on CoinMarketCap, has grown dramatically on the charts right from the start of the month.

IOTA co-founder Dominik Schiener recently did one of his systematic AMA sessions. He elucidated some of the most important concepts about the development of IOTA and its updates, Chrysalis and Coordicide.

To begin with, Schiener answered a question about the challenges that IOTA 2.0 or Coordicide might face in its deployment process. One of the issues faced by the group of developers was to discover and fix bugs on major components.

The co-founder further shared his optimism on the progress in the AMA session.

“Coordicide will fully decentralize IOTA. On the theoretical side we are doing very well to deliver what is promised which is a fully decentralized IOTA. I think the biggest risk is the implementation.”

At this very moment, IOTA targetted Q4 of this year as a tentative date for Coordicide’s rollout. However, this depends largely on the results of the incentivized testnet, Schiener said:

“A lot of that will depend on how well the incentivized testnet goes, that’s why we always say that the incentivized test network is the most important part of Coordicide. That’s where the research combines with the implementation to test in an open environment.”

Furthermore, Schiener addressed concerns regarding data sharding. The Value Tangle team, just like the Coordicide team, reviewed all the “paths” and possible implementation of this component. Schiener stated:

“I think when it comes to sharding, if I had to sum it up, I think the biggest risk is going to be building a solution that is going to kill IOTA adoption. In a similar way of how they said the biggest risk to Ethereum is Ethereum 2.0.”

What’s interesting to note here, is the analogy with ETH and ETH 2.0. 

Keeping all the risks in mind, Schiener concluded:

“With that in mind, the team have received feedback from their corporate partners to create a solution that the market wants. In large part, Chrysalis will be the culmination of that feedback.”


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/iota-co-founder-discloses-coordicides-release-date

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