Tag: Cardano

Hoskinson: 100+ Companies are now Ready to Leave Ethereum ecosystem for Cardano

Hoskinson: 100+ Companies are now Ready to Leave Ethereum ecosystem for Cardano

Cardano (ADA) supremo Charles Hoskinson claims that his project is poised to steal some of Ethereum (ETH)’s thunder – with claims that “more than 100 companies” are “in the pipeline,” and will shift to Cardano when the latter’s functionality “matures.”

However, speaking to Bloomberg, he did not elaborate any further.

Meanwhile, Nic Carter, the co-founder of Coin Metrics and Partner at venture capital firm Castle Island Ventures, appeared wary of the claims, telling the same media outlet,

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

In July 2020, Hoskinson predicted that, in a year, “there will be hundreds of assets running on Cardano, thousands of dapps [decentralized apps], tons of interesting projects and lots of unique use and utility.” Back then, these claims were met with a grain of salt by industry observers.

Also, popular dapp trackers, such as DappRadar and Dapp.com do not provide any information about dapps on Cardano.

Hoskinson, a former prime mover and the co-founder of the Ethereum blockchain protocol, left the project after what the media has labeled a “boardroom brawl” in 2014, later setting up Cardano as a direct rival protocol.

And Hoskinson, with a touch of braggadocio, told Bloomberg that Cardano’s blockchain security and governance protocols are “superior to Ethereum,” meaning they could be used for digital voting and supply chain tracking purposes.

Hoskinson stated,

“My goal is to run countries on this blockchain. 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. You can take your DeFi and you can run it on my system for 1/100 to 1/1000 of the cost.”

And the network’s ADA token has had a meteoric rise this year, currently sitting at number 6 in the top 10 tokens per market capitalization.

At the time of writing (09:37 UTC), ADA trades at USD 1 and is down by 8% in a day and 12% in a week, trimming its monthly gains to less than 9%. The price has skyrocketed by 3,755% in a year.

The Cardano chief added that he “doesn’t know why” Cardano’s value has been in the ascendency this year, and added that smart contract functionality was to roll out “this year.”

Ethereum developer Ryan Berckmans earlier this month told Cryptonews.com that the ADA hype could simply be the result of crypto community members thinking that Ethereum “doesn’t scale” and speculating that “Cardano may be the answer.”

Hoskinson’s cause has been buoyed by some high-profile supporters, however, with veteran rock star Gene Simmons of Kiss mounting a very public and very impassioned defense of the token last month.

Source – Crypto News 

The next Bitcoin? Investors flock to new cryptocurrency Cardano ‘ADA’

The next Bitcoin? Investors flock to new cryptocurrency Cardano 'ADA'

As Bitcoin surges cryptocurrency investors are looking for the next golden goose, with one token in particular exploding in value.
It’s called ADA, and it is the native token of the Cardano blockchain (a similar technology to Bitcoin, where all transactions are recorded on a single ledger).
Much like other cryptocurrencies, any user anywhere in the world can use ADA as a secure exchange of value.
It’s currently priced at $1.39 per token – but if you jumped onboard in 2020 you could have bought ADA for just 20 cents per token.
According to trading multi-brokerage company eToro, ADA has seen a 157 per cent increase in trading in the past month, hitting a high of $1.45 on the last weekend of February.
Simon Peters, eToro’s resident cryptocurrency expert, said clued-in investors were searching for alternatives to Bitcoin that would allow them to get in on the ground floor of the next big boom.
“The market is evolving. Rather than focus solely on bitcoin and ethereum, where many investors can only own a fraction of one coin, we are seeing increasing demand for coins priced like bitcoin and ethereum were a few years ago,” Mr Peters said.
“Investors are looking for the next bitcoin, meaning they’re investing in cheaper tokens like Cardano’s ADA, IOTA and Tron, all of which are priced around the $1 mark.
“We believe this year could see this hunt for the next ‘bitcoin’ intensify, as the market widens and other coins gain their own following.”

Source – 9 News