The Crypto Basic

Two months ago Input-Output Global (IOG) announced partnership with World Mobile. The objective was to “connect the unconnected” provide African majority with internet connection and make voices of those heard that are deep back from the modern world.

Read: Weiss Ratings Shows Cardano Technology Is Superior Than Ethereum

Now World Mobile is taking another step by launching World Mobile Token on Cardano. World Mobile aim is to raise 40 Million USD in one month time. They have already raised $5 million in a private token sale.

This is not a revolution; we’re rebooting the system. #ConnectingTheUnconnected #RealFi #Cardano @InputOutputHK pic.twitter.com/kB7iyrVoyT

— World Mobile (@WorldMobileTeam) June 16, 2021

Read: Nasdaq Admire Cardano As “By The People, For The People” Type Of Currency

World Mobile is based on IOG’s Atala PRISM. The main goal of token launch and fund raising is to allow everyone in Africa to have access of global financial system by creating a “WMT sharing economy”. To connect basic necessities deprived African population with banking, finance, education, healthcare and more.

Read: Charles Hoskinson Announced That Cardano Developers Will Soon Release New Research Paper On Algorithmic Stablecoins

Why Cardano:

Sean Inggs, Director of World Mobile Token says that World Mobile Token will push our vision forward:

WMT will fuel our ecosystem to empower thousands to obtain access to basic necessities including identification, access to education, banking and other fundamental services.

CEO of World Mobile, Micky Watkins tells why company decided to launch their WMT token on cardano:

We chose Cardano for their Ouroboros consensus mechanism, Plutus Platform smart contracts, and Atala Prism Digital IDs (DID), which are essential in unlocking access to banking and other financial or insurance services such as micro-loans.

He further said:

Our mission is to create a sustainable and affordable global mobile network promoting data protection, economic freedom, and digital inclusion. Since we’re starting in Africa, where connectivity is in the highest demand, Cardano’s African focus aligns with ours.

Cardano ecosystem is growing rapidly. Please remember that price of ADA matters but what matter the most is Cardano adoption. If cardano is adopted globally, there is no doubt that Cardano price will follow.  

So Cardano believers must hold their tokens for long term (Atleast Five Years). Cardano network is growing exponentially and there is not a single doubt that early adopters will reap the rewards in the long term. 

In a latest interview with well-known You tuber Lex Fridman (Video Below With Timeline) Charles Hoskinson said that Cardano (ADA) is better than Bitcoin, and Ethereum.

He emphasized that Tesla should consider ADA as a payment method instead of BTC. The reason why Tesla should choose Cardano is because, ADA blockchain is 1.6 million times more More Energy Efficient Than Bitcoin.

Read Full Story: Cardano CEO: Cardano Is 1.6 Million Times More Energy Efficient Than Bitcoin

Cardano founder said the project cryptocurrency ADA is one of the greenest and most environmentally friendly digital asset.

Read: Charles Hoskinson Announced That Cardano Developers Will Soon Release New Research Paper On Algorithmic Stablecoins

Cardano Better Than Bitcoin

In an interview with Lex Fridman, Charles Hoskinson highlighted the benefits of his proof-of-stake blockchain platform Cardano. He noted that the Cardano PoS system is much better than BTC in terms of power consumption. In addition, he said that Cardano should be Tesla’s first choice:

If they really care about alternative energy, sustainability, carbon reduction and carbon neutrality, you can’t be in a system (BTC) that has no built-in mechanism to limit energy consumption.

Hoskinson thinks Musk should focus on ADA instead of bitcoin:

Bitcoin is the least programmable of all crypto and if you want to do interesting, and unique things, there’s just no real way to do that with BTC.

Hoskinson pointed out that all crypto projects are an experiment and hide their risks. While Cardano has had significant success recently, We as a team are certain that cardano will achieve its goals in the future.

Recently IOHK CTO also gave his remarks about BTC saying:

Look at Bitcoin – it’s centralized around huge mining farms which are all concentrated in some part of the world like China and other countries. In Cardano, we have 2,000 stakepool operators scattered across the world, which are producing blocks – and it keeps growing. This [hashing power] is only going to keep increasing because people are fighting for the next block. They are trying to put in more power to win over other mining pools. So, it’s sort of concerning – not for now, but for the future – imagine if most of the financial system runs on Bitcoin – how much consumption will be in 10 years.?

Cardano Better Than Ethereum

This isn’t the first time Charles Hoskinson has elevated Cardano above his rivals. In late May, he criticized Ethereum network, calling it overrated with a lack of vital properties.

Read: Nasdaq Admire Cardano As “By The People, For The People” Type Of Currency

He shared reasons why Cardano is the better blockchain project than ETH.

Ethereum has never partnered with local governments of developing countries to help their citizens, while Cardano has done so in Ethiopia, Tanzania, and Georgia.

Read: IOHK CTO Thoughts On Cardano Explosive Growth, Comparison With Ethereum, Smart Contracts And More

Hoskinson said that Ethereum has a very confusing structure and that the upcoming ETH 2.0 release will lead to the demise of the entire network:

First of all, Ethereum is killing itself. They are replacing Ethereum with Ethereum 2.0. Ultimately, ETH 2.0 will kill ETH 1.0.

Watch Interview: ( Time-lines below video)

2:42:47 – Dogecoin and Elon Musk

1:21:52 – Cardano vs Ethereum vs Bitcoin

IOHK CEO Charles Hoskinson has announced that Cardano developer will release a new research paper on algorithmic stablecoins.

Read: Cardano Price Analysis: Cardano Is Consolidation But Overall Market Is Becoming Bearish-Important Levels To Watch

Charles Hoskinson claims paper is an “unfinished business” from his Bitshares days.

Read: Nasdaq Admire Cardano As “By The People, For The People” Type Of Currency

He said:

We have a really amazing algorithmic stablecoin paper coming out in the next few weeks. Unfinished business since the Bitshares days.

What Are Algorithmic Stablecoins?

“Algorithmic Stablecoins are a new segment of cryptocurrency designed to achieve price stability and balance the circulating supply of the asset by being pegged to a reserve asset such as the US dollar, gold or any other foreign currency.

To put it in simple terms, the algorithmic stablecoins uses an algorithm underneath which issues more coins when price increases, and buys them off the market when the price falls.

These coins grant traders the comfort to reap many of the benefits of crypto assets like BTC and ETH without the risk of price volatility.”

Charles Hoskinson tweeted:

We have a really amazing algorithmic stablecoin paper coming out in the next few weeks. Unfinished business since the Bitshares days.

— Charles Hoskinson (@IOHK_Charles) June 18, 2021

Read: IOHK CTO Thoughts On Cardano Explosive Growth, Comparison With Ethereum, Smart Contracts And More

Hoskinson co-founded Bitshares with well-known cryptocurrency entrepreneur Daniel Larimer, but the two went their separate ways for unknown reasons.

Read: Charles Hoskinson Responded to Mike Novogratz Comment: “They Have Done Something To Create This Weird Cult”

In January, IOHK and EMURGO announced that AgeUSD stablecoin would be launched on the Ergo blockchain.

Last August, Hoskinson said he was obsessed with decentralized finance (Defi), saying that Cardano algorithmic stablecoin would be far better than MakerDAO.

2021 was a great year for crypto, where cryptocurrencies have seen a biggest bull market ever.

Top coins with strong fundamentals and ambitious teams and prominent products like cardano got attention of the entire cryptocurrency community and even celebrities and people outside of crypto.

Cardano has seen a lot of developments going on in 2021. The team has partnered with two African countries – Ethiopia and Tanzania – and will work on to create digital identities, education, mobile internet connectivity and financial acceptance in these countries.

As smart contracts are soon coming on cardano and The Road To Alonzo Continues, with IOHK Launching The Cardano Alonzoblue2.0 Testnet, bright future stand in front of ADA.

In an interview with CryptoPotato, IOHK’s Chief Technology Officer, Romain Pellerin expressed his thoughts on many important things regarding cardano.

Read: Cardano Price Analysis: Cardano Is Consolidation But Overall Market Is Becoming Bearish-Important Levels To Watch

Interview Highlights:

Cardano Growth:

When asked that was the exponential crypto market growth of 2021 was the reason of Cardano growth, he said:

I looked at the price movements when we released software and we had a lot of price action last summer, before this bull market – when we released the Shelley update

According to him launch of cardano staking was the main reason of project growth:

About 70% of ADA is staked. And all of this contributed to the price action. And I think we benefited from the bull market and after all, you have the amplification of the overall industry, so we benefit from that.

He said that whenever we launched a new feature on cardano like staking, ability to launch NFT, running a pool etc. more people become interested in ADA and Cardano network grow.

Read: Nasdaq Admire Cardano As “By The People, For The People” Type Of Currency

Cardano Energy Consumption:

Read: How Cardano Blockchain Is Changing Everyday Life

Pellerin said that Cardano energy consumption is 0.01% as compared to BTC. Bitcoin use proof of work mechanism whereas ADA relies on Proof Of Stake which do not use hashing power.

we will always be greener than every proof of work blockchain.

He said that BTC energy consumption issues are long-term and are not going away soon.

Look at Bitcoin – it’s centralized around huge mining farms which are all concentrated in some part of the world like China and other countries. In Cardano, we have 2,000 stakepool operators scattered across the world, which are producing blocks – and it keeps growing. This [hashing power] is only going to keep increasing because people are fighting for the next block. They are trying to put in more power to win over other mining pools. So, it’s sort of concerning – not for now, but for the future – imagine if most of the financial system runs on Bitcoin – how much consumption will be in 10 years.?

Read: Cardano Marketcap Ahead of Coinbase And Roblox, Behind Vodafone Only by $0.9B

Cradano And Ethereum:

On cardano and Ethereum comparison he said:

I’m not sure why Cardano is compared to Ethereum. Ethereum is a proof-of-work blockchain. We run a different ledger model.

He pointed that cardano will match up with ETH:

We (Cardano) have smart contracts capabilities and we will be on par with Ethereum in terms of functionality. But we are very different to Ethereum technically – proof of stake vs. proof of work, and also in the way we develop the network.

Read: 3 Top Coins To 3 Million!!! Bitcoin, Ethereum And Cardano

 

We are way more research-focused and we build slowly but our system is robust to support the open financial system of tomorrow. When you look at Ethereum, their approach is rapid prototyping and releasing fast, but at the end it’s a prototype, and we are not building a prototype.

Cardano Smart Contracts:

Read: Charles Hoskinson Responded to Mike Novogratz Comment: “They Have Done Something To Create This Weird Cult”

on Cardano smart contracts he told:

First, it’s important to mention that Marlowe is running on Plutus – our smart contract virtual machine/engine, so to speak. It’s functional programming, so kind of dedicated to experts.

On top of that, we build what we call domain-specific languages that are dedicated to a particular industry. Marlowe is for the financial industry and implements ACTUS standards, which, for example, defines how you transact with escrow and how you actually write that transaction and formalize it through standards. It’s also greatly adapted to create decentralized finance applications (DeFi) while supporting the original language of institutions – financial institutions. It’s very simple for them because they are already used to that language.

Cardano network is growing exponentially, many investors and long term holders are entering cardano space because of so many developments. Cardano smart contracts testnets are already up and working, The launch of smart contracts will launch a new era for Cardano. A bright future stand in front of cardano.