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

Mark Brennan
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3 Top Coins To 3 Million!!! Bitcoin, Ethereum And Cardano

The well-known YouTube crypto channel Altcoin Daily has named Bitcoin, Ethereum, and Cardano as the top three crypto for 2021.


In a new video, Altcoin Daily host Aaron Arnold explains why he is so bullish on these top cryptocurrency.

According to analyst Aaron Arnold, you don’t have to look far into the crypto market to know what to invest in. The main digital assets, Bitcoin, Ethereum and Cardano, will be the highlights of 2021.

Although the BTC, ETH and ADA have seen gains in 2021 but they are still recovering from the fall of May 2021, the analyst believes in the strong potential  and hope for major growth in all three of them.

Aaron Arnold Says that at this time there are so many opportunities for crypto investors to pick a top crypto project to onvest:

“There is so much opportunity in cryptocurrency right now. If you missed out on the early years of the internet, you better cherish the early years of Bitcoin, decentralized finance (DeFi) and crypto right now. And just like the early years of the internet, this opportunity will not last forever.”

He further says

“When there is fear in the market, this is an opportunity for greater opportunity and there is fear in the air.”

Bitcoin:

Bitcoin is stronger than in 2017 and with an update on the way. Benefits of the November 2021 upgrade will be?

  • Increased privacy.
  • Acceleration of bitcoin transaction rates.
  • Reducing the amount of data stored and transferred on the BTC blockchain.

 

Ethereum

The main altcoin in the market, ETH also has a major update coming. It will include greater acceptance of staking in ETH and will increase the efficiency of Ethereum. That’s because it will completely switch to the Proof of Stake consensus. Furthermore, a large part of ETH is locked in DeFi, which causes greater scarcity of ETH, The lesser the supply of ETH will become, the higher the price will go.

Cardano

Arnold big bet for the valuation of Cardano are smart contracts. The market is waiting for smart contracts functionality to come to cardano in August 2021. The expectation are high, as the first smart contracts Alonzo test network has been successfully launched.

Watch Video:

Popular Reality Television Personality, Kim Kardashian Also Promoting A Shady Crypto Project Ethereum MAX

Mark Brennan
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Popular Reality Television Personality, Kim Kardashian Also Promoting A Shady Crypto Project Ethereum MAX

Popular reality television personality, socialite, model, businesswoman, producer, and actress Kim Kardashian is promoting a shady project through her social networks, called Ethereum MAX or ETHMAX Protocol, Kardashian uploaded two Instagram stories in the past 24 hours and asked her fans if they were “into crypto”.


The celebrity influencer shared a story about EthereumMax with her 228 million Instagram followers yesterday after previously posting about EthereumMax in May. She said:

“Hey guys, I have a big announcement. Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token! A few minutes ago Ethereum Max burned 400 trillion tokens—literally 50% of their admin wallet giving back to the entire E-Max community.”

Kardashian promoting EthereumMAX

Ethereummax has no whitepaper, background section, and no information about a team behind it, there is nowhere to confirm team identity. The website has no post explaining its tokenomics, goals, or saying its a ERC20 based token.

Many have speculated that Kardashian social media accounts has been hacked. Otherwise there was no way she promotes such a creepy project, but it seems unlikely as the posts have been uploaded for over 10 hours. Furthermore, there was no testimony from Kardashian or her team about a possible hack.

The post is followed by the necessary hashtags, including #AD, which means that this is an advertisement. This is important because it provides some sort of legal protection to celebrities with potentially toxic supplements, lifestyles, and shitcoins.

Kardashian has the 10th largest reach on social media, with 319 million followers on Twitter, Facebook, YouTube, and Instagram as of May, according to Visual Capitalist — and 228 million followers on Instagram alone.

Kardashian wasn’t the only celebrity promoting this project. Floyd Mayweather, the American former professional boxer, did the same thing in two separate events: The Bitcoin 2021 conference and his exhibition boxing match with Logan Paul.

Former NBA great Paul Pierce, who found himself out of a job as an ESPN analyst after sharing a video of himself gambling with adult performers, told Sports Network in May he was happier with his new love, EthereumMax:

@espn I don’t need you. I got

@ethereum_max I made more money with this crypto in the past month then I did with y’all in a year. TRUTH shall set u Free. my own Boss

EthereumMax check it out for yourself

 

What is Ethereumax?

It’s basically an ERC-20 token, running on Ethereum blockchain. Like Safemoon, it promises token holders a cut in all transactions, in this case 3%. It released two trillion tokens since it launched on the 14th May. It mainly trades against ETH on Uniswap, a decentralized exchange where anyone can list their ERC20 token.

There is no white paper or other document to check its legitimacy, it just reads the following on its landing page:

We launched eMax with a vision to bridge the gap between the emergence of community tokens and the well-known foundational coins of crypto, creating a unique token that provides reoccurring and automatic 3% financial rewards to its holders with a pathway for practical long-term use in everyday life.

The combined reach and engagement of Kim Kardashian and other celebrities could be counted in the millions. In the US, regulators have started to express more concern about the number of people pouring large sums of money into illegitimate crypto projects in hopes of making a quick profit.

Mike Novogratz Criticize Cardano “They Have Done Something To Create This Weird Cult” Charles Hoskinson Responded

Mark Brennan
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Mike Novogratz Criticize Cardano “They Have Done Something To Create This Weird Cult” Charles Hoskinson Responded

Mike Novogratz attended the Bitcoin 2021 conference in Miami and shared his thoughts on the market on the sidelines of the event.


One of the standout comments was that Cardano was overrated and that the project created a kind of “Cult Following”. Now Charles Hoskinson has responded, arguing that Novogratz is simply upset that he cannot pull the strings with ADA like he does with other “VC coins.”

In an interview with Yahoo Finance, the billionaire investor Mike Novogratz stated,

” And so things like Cardano, it shocks me, the valuation. And it shocks every smart developer I know. They have done something to create this weird cult. And those things don’t die easy.”

 

His comments were not well received in the Cardano community. Hoskinson, the Cardano founder called out the Wall Street veteran, claiming that the outburst was just motivated by his need to control Cardano.

Hoskinson Said:

He’s saying that he doesn’t see a backdoor to get in at a favorable price or manipulate the market like the rest of the VC coins. Somehow fair, transparent, community-led cryptocurrencies are “cults”

Charles Hoskinson Tweeted:

 

Hoskinson mentioned some of the things that make Cardano an outstanding crypto, stating:

we have five million students in Ethiopia, thousands of assets issued on Cardano, a nice DApp ecosystem brewing for smart contract launch, a new VC model with catalyst, huge community.

Legal Expert Says Binance Coin, Tether And Ethereum 2.0 Can Be Classified As Securities

Mark Brennan
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Legal Expert Says Binance Coin, Tether And Ethereum 2.0 Can Be Classified As Securities

Ripple and SEC are in a legal fight for months over whether XRP is a security or not, but if you are a holder of BNB or Tether, then you may not be as safe, according to a legal expert.


The lawyer looked at the top 5 crypto by market capitalization and their likelihood that the SEC will crack down on them for a securities breach, and only BTC seems safe to him.

According to legal expert, BNB and USDT meet the criteria that the SEC considers in relation to securities violations. And once Ethereum gets down to proof of stake, ETH could be more exposed to the wrath of the SEC.

Lawyer Jeremy Hogan is loved in the crypto community for his legal videos. In his latest video on his YouTube channel “Legal Briefs” he discussed his opinion on a possibility of SEC considering BNB, USDT and ETH 2.0 as security.

The SEC evaluates whether an asset is a security or not using the famous Howie test.

Bitcoin

Hogan SEC Danger rating for BTC: 2/10

The king of crypto is the least susceptible to being called a security. However, contrary to popular belief, BTC is also centralized to a certain extent. 1,000 people own up to 40 percent of the supply, and 2 percent of wallets control 95 percent of all BTC in circulation.

If the SEC believes there were some general enterprises manipulating the price of Bitcoin, SEC could come after BTC.

Hogan said:

There is an argument against Bitcoin, but it is very weak. I would not have lost my sleep over this.

Ethereum:

Hogan SEC Danger rating for ETH: 4/10

Ethereum is also very decentralized. But, unlike Bitcoin, Ethereum has a central entity – the Ethereum Foundation, which has a big impact on ETH. More importantly, Ethereum raised money from investors before it started in a pre-selling. This makes ETH more likely to fall under the SEC purview for violating securities rules.

Former SEC director William Hinman once stated that only Ethereum and Bitcoin are exempted from securities classification. However, according to Hogan, it won’t matter if the SEC decides to go down to Ethereum.

 

Ethereum 2.0: 

Hogan SEC Danger rating for ETH 2.0: 6/10

Ethereum is moving to proof-of-stake in its ETH2 protocol update. This makes it even more likely to be classified as security, Hogan said. The biggest problem is with ETH2 staking functionality, where investors stake their money and expect to make a profit. This would be in line with the SEC rule that if investors expect profit from the efforts of others, it makes the asset a security.

Hogan said:

Definitely seems like the SEC might see a promotion and improvement of the network by a semi-centralized entity with the rollout of ETH2.

Binance Coin (BNB)

Hogan SEC Danger rating for BNB 8.5/10

Binance Coin (BNB) isn’t doing too well either. Binance held an ICO in July 2017 and sold BNB to the public, some of which were American. The exchange has a big impact on the performance and profitability of the BNB token. Binance even buys back some of the BNB and burns them, just to make BNB more valuable.

Tether

Hogan SEC Danger rating for USDT: 9/10

Tether is one of the most controversial coins on the market and is most likely to be hit by the SEC according to Hogan. USDT troubles have been building on for years, and the New York attorney general accuses the company of misleading the market about supporting its tokens. In addition, the company prints USDT at will and is directly involved in maneuvering crypto market.

Hogan said:

I would say that gives Tether a 9 out of 10 on the danger rating, but you don’t own it, and probably never will and so I’m guessing you don’t care too much.

 

Top Altcoin To Follow This Week

Mark Brennan
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Top Altcoin To Follow This Week

The crypto money market started the new week with a green picture. According to CoinGecko data, the total value of the cryptocurrency market has increased by more than 8% in the last 24 hours to $1.67 trillion. The Bitcoin share in the market is 45.82%. Bitcoin dominance declined to the level of 42% in the past week, and then started to rise again. The total value of the altcoin market is just over $900 million.

No one know, which direction the altcoins will move in the coming days, but Some news this week on Polkadot & Kusama, Zcash, Horizen, SingularityNET, Gitcoin, Polker and SUN might be worth following.


Polkadot and Kusama (DOT and KSM)

News This Week: Kusama will launch its first auction for the Parachain slot on June 15, 12:00 GMT.

Why To Follow: Kusama, known as Polkadot canary network, launched the first parachain on Polkadot under the name Shell a few weeks ago, and later upgraded it to Statemint. This week, an auction will take place within the Kusama community. Projects that want to develop a product in the Kusama and Polkadot ecosystem can get a parachain place through auction. The winner of the auction in Kusama will be announced on June 22.

Read More: https://polkadot.network/kusama-parachain-auctions/

Zcash (ZCASH)

News This Week: According to information shared by Zcash, NU5 will be available on the testnet on June 15th.

Why To Follow: NU5, short for Network Upgrade 5, will be implemented on the mainnet in October 2021, according to estimates. This update includes packages such as ZIP-224, ZIP-225, ZIP-244, ZIP-252. The changes will provide the basis for cross-chain integrations and secondary layer (Layer 2) on Zcash Network.

Read More: https://z.cash/support/schedule/

Horizon (ZEN)

News This week: Horizen team will travel to Shenzhen on June 19 as part of the Chinese Roadshow event.

Why To Follow: Horizen is holding promotional events in several different cities in China to celebrate its 4th anniversary. The first of event was held on May 30 in Hangzhou. Participants in the upcoming event will be informed about Horizen’s current work and future plans and upcoming partnerships.

SingularityNET (AGIX)

News This Week: SingularityDAO will airdrop SDAO to those who meet the requirements with a snapshot on June 18.

Why To Follow: SingularityDAO will distribute 1 million 125 thousand SDAOs in June. Those wishing to participate in the Airdrop by providing liquidity must hold at least 1,000 AGIX in the AGIX/WETH pool on Uniswap before June 18. A snapshot of this pool will be taken on June 18, and the registration process for the airdrop will begin on June 20-23.  Free tokens can be claimed on June 25.

Read More On: https://airdrop.singularitydao.ai/

Gitcoin (GTC)

News This Week: Round 10 of Gitcoin Grants will start on June 16 and run until July 7.

Why To Follow: Gitcoin Grants, an experimental project; It enables people to fund open source projects through donations. In the 9th round of this, a total of around $500,000 was distributed to more than 800 projects. Hackathon unigrants, which will start on June 16, is supported by sponsors such as Aave, Mask Network, The Graph. In addition, Chainlink announced that this time it will participate in the hackathon as a matchmaking partner and will support Ethereum-based projects.

Read More On: https://gitcoin.co/hackathon/gr10/onboard

Polker (PKR)

News This Week: A blockchain-based poker game coin Polker’s token PKR, IDO will launch on June 21 via BSCPAD and TRONPAD.

Why To Follow: PKR is the first blockchain online poker game that uses Unreal Engine 4 for immersive and powerful gameplay while utilizing a provably fair system for truly transparent gameplay. Although Polker’s first decentralized offering will take place on Monday next week, users must whitelist their TRON or BSC addresses before the sale begins.

Read More On: https://app.viralsweep.com/sweeps/full/7c9496-89581?framed=1

 

Sun (sun)

News This Week: Binance will support the SUN (SUN) token migration & 1:1,000 redenomination plan.

Why To Follow: At 2021-06-09 02:00 (UTC), Binance will suspend SUN/BTC, SUN/USDT isolated margin borrowing. Withdrawal of SUN (BEP20) will be suspended at 2021-06-11 00:00 (UTC). Binance will delist all existing SUN spot trading pairs (SUN/BTC and SUN/USDT) at 2021-06-14 04:00 (UTC). Binance will recover all SUN balances and begin the distribution of new SUN to all eligible users at a ratio of 1 SUN (Old) = 1,000 SUN (New).

Read More Details On: https://www.binance.com/en/support/announcement/f923f2e4056843a9a9b87beb2aaa2f31

Cardano Price Prediction: Cardano Upward Move Has Potential But On-Chian Data Shows Trouble

Albert Brown
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Cardano Price Prediction: Cardano Upward Move Has Potential But On-Chian Data Shows Trouble

Cardano is up 12% after falling below the critical support at $1.461. The ADA is currently hovering within the critical resistance level from $1.535 to $1.644 range. Only a decisive close above $1.644 would confirm the start of the new bullish rally.


Cardano price bottomed on June 12 after a massive decline since June 3. The higher high, set on June 13, signaled a new uptrend.

This rally formed does not yet confirm that ADA will continue to rise, and the on-chain data shows Cardano will face stiff resistance as it rallies upwards.

ada technical analysis 14-6-21

Cardano price set two swing lows at $1.366 and $1.41 on June 12 and 13 respectively, after 29% sell-off from June 3. While the ADA is up nearly 12% in the past 12 hours, it needs to make a decisive close above the 50% Fibonacci retracement level of $1.646 to have any chance of swing highs at $1.843 or $1.950.

Currently, Cardano price is trading in the supply zone, which ranges from $1.535 to $1.644. This area will offer the most resistance to the bulls and may even stop the rally.

Failure to overcome this barrier will result in a decline that could push the ADA towards support at $1.461. If selling pressure continues to rise, the Ethereum killer could retest the swing low at $1.332.

ADA On-Chain Data

IntoTheBlock In/Out of the Money Around Price (IOMAP) model support ADA decline, which reveals the resistance levels of underwater investors.

From $1.56 to $ 1.72, approximately 408,020 addresses purchased nearly 6.15 billion ADA tokens. These investors are “out of money” and might want to sell at breakeven if Cardano rises, so a short burst of bullish momentum will not be enough to break through this wall of underwater investors.

Cardano IntoTheBlock In/Out of the Money Around Price (IOMAP)

The other metric that go against ADA is that over the past month, the number of new addresses joining the Cardano network has dropped from $79,600 to $27,561. This 66% drop indicates that investors are not interested in the ADA at current price levels and are either reallocating their funds or earning profits by selling ADA.

Summary

If the ADA bulls manage to rise above $1.646, it will invalidate the bearish thesis and signal a new uptrend. In this case, A potential upward move could lead ADA to $1.835. A break above $1.835, could touch resistance level at $ 2.047.

Top 5 Altcoins Under $1 With Strong Potential, Prominent Products, And Ambitious Teams

Jakkk
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Top 5 Altcoins Under $1 With Strong Potential, Prominent Products, And Ambitious Teams

In this article, we’ll take a look at crypto coins worth investing for less than $1 With Strong Potential, Prominent Products, and Ambitious Teams, and with tremendous upside potential along with a bonus coin.



Ripple (XRP)

Ripple is a payment platform that enables real-time cross-border gross settlement (RTGS), allowing instant money transactions worldwide.

Ripple aims to compete with companies like SWIFT that currently offer this type of service to banks. In addition, Ripple’s XRP is designed to be a fast, less costly, and more scalable alternative to other digital assets and cash payment platforms.

Ripple is surrounded by lot of controversy. They are currently in litigation with the US Securities and Exchange Commission (SEC) but still lean towards winning the case. Ripple CEO Brad Garlinghouse has confirmed Ripple’s plans to go public after the firm settles its lawsuit with the SEC. A settlement or even a layoff is expected shortly, which should have a good effect on the price of XRP.

Despite of SEC lawsuit, Ripple is also doing great in ASIA making many new partnerships. Recently Ripple announced that Ripplenet Will Be Used By SBI Ripple Asia For Cambodia-Vietnam Remittance Service.

Ripple Also Made It to be On 2021 CNBC Disruptor 50 Companies List This Year.

stromgain

Vechain (VET)

VeChain is a blockchain-based supply chain platform. The company is committed to leveraging distributed control and Internet of Things (IoT) technologies to create an ecosystem that solves significant supply chain management challenges. The idea is to improve the transparency, and traceability, and of supply chains to ensure end users is protected from counterfeit products.

The company is snowballing, which can be seen in its recent partnership, which was announced this month. The company recently partnered with Shanghai’s leading Renji Hospital to launch “MyBaby,” a blockchain-based service that tracks IVF progress.

Vechain Powered The MyBaby project improve the IVF process by allowing families to see transparently all data related to the development of eggs into embryos tracked on the blockchain.

VeChain believes the MyBaby app can relieve anxiety, depression, and stress associated with the IVF cycle. However, additional partnerships will help the project’s scalability and ultimately create demand for the cryptocurrency, leading to higher prices.

Other than MyBaby app Vechain had Prominent Projects In Health And Safety in one year time.

Vechain Demonstrate How Its Advanced Blockchain Technology Contributes To The Fight Against COVID-19 Pandemic and Vechain is also working on NFT Ecosystem.

Recently Vechain And Shopping.Io Became Partners To Enable Vechain Holders To Shop On Amazon, Ebay, Walmart And Etsy Using VET Token. Read More Here

Vechain Real World Transactions: 20K+ Enterprise NFT Transactions And Over 50K Transactions For The San Marino Digital Covid Certificates. Read More.

San Marino Approves Vechain Powered National Digital Vaccination Passports which was a big leap forward for Vechain blockchain. Read more.

Another big Vechain acheivement Suzhou City Launched “Changan Code” Based On Vechain Toolchain Covering More Than 300,000 Local Residents. Read more.

Stellar Lumen (XLM)

 The company offers services similar to Ripple but with a unique feature; each transaction costs only 0.00001 XLM.

In terms of partnerships, Stellar has a basket of it. For example, several years ago, Stellar and IBM teamed up to launch World Wire. This project allowed large financial institutions to send transactions to the Stellar network and transact using bridge assets such as stable coins.

It was announced recently that investment firm Victory Capital Management would take steps for its investors from the United States to gain access to the cryptocurrency market. It has listed XLM on its list of coins to consider.

TRON (TRX)

Tron is a blockchain that ensure that its technology is usable in daily use. It is best described as a decentralized platform focused on content sharing and entertainment. Since Bitcoin can process up to six transactions per second, and Ethereum up to 25, TRON claims that its network has a throughput of 2,000 t/s.

Tron has created the TRC-20 network, where transaction fees are significantly lower than popular networks such as the Ethereum (ERC-20) or the Binance Smart Chain (BEP) network. With low transaction fees, demand for the network is guaranteed, and this will ultimately help the price of the coin.

Tron Blockchain is doing exceptionally good and is able to acheive some major milestones. 

Popular Stable coin USDT and TUSD are available on Tron Network, with the minimum transaction fees.

Tron is doing great in NFT marketplace they have make NFT their priority, and have released a new TRON NFT Standard.

ORAO, a data-agnostic oracle network that supports multiple blockchains, has partnered with TRON to launch general data products on the popular TRX blockchain protocol.
TRON transactions hit a new all-time high as Justin Sun set the next milestone of 10 million transactions per day. The total value of the Tron blockchain has exceeded $8 billion.

The TRON blockchain network is showing good signs of growth, reaching important milestones in recent weeks. Daily transactions on the TRON blockchain have reached a new all-time high, increasing 500 percent over the past year.

According to TRON data tracking platform Tronscan.org, the blockchain currently processes over 9 million transactions in a single day.

TRON co-founder Justin Sun stated that the blockchain will soon start processing 10 million transactions every day.

In addition to this massive increase in daily transactions, the number of unique addresses has also increased significantly. There are currently over 45 million addresses on the blockchain network, according to Tronscan data.

The TRON blockchain network offers support multiple stablecoins and continues to grow. USDT Tether continues to dominate its peers with a $32 billion circulating supply.
On the other hand, the Circle stablecoin USDC has seen significant gains. In less than a month, USDC circulating supply on TRON has exceeded 108 million.
Read More: TRON Milestones

Hedera Hashgraph (HBAR)

Hedera Hashgraph is a public network that enables individuals and businesses to build powerful decentralized applications. Today it is called “Trust Layer on the Internet.”

Hedera Hashgraph is not built on top of a regular blockchain but instead introduces an entirely new type of distributed ledger technology known as a hashgraph.

This technology improves many blockchain-based alternatives in several key areas, including speed, cost, and scalability. For example, transaction fees are only $0.0001 as they are completed in less than five seconds.  Overall, Hedera Hashgraph claims to be able to process over 10,000 transactions per second (TPS).

In terms of partnerships, Hedera has a network consensus that includes a rotating Board of Governors of 39 highly diversified organizations spanning up to 11 different industries.

The Hedera network will undergo a network upgrade that is expected to improve hashgraph performance dramatically. This update is expected to help increase demand for the coin.

So this is our list of TOP 5 coins below 1 Dollar with Strong Potential, Prominent Products, And Ambitious Teams. This article is for information purpose and not a financial advice. Please do your own research before investing.

stromgain

Bonus Coin

Lets look at a bonus coins, the coin is not under 1 Dollar but is the most discussed and hot coin at the moment. You all know it is Cardano, Trading only 37 cents above 1 Dollar ($1.37), there is so much going on in Cardano ecosystem.

There is no doubt that Cardano is a top altcoin, and the crypto community is showing great interest in ADA as the blockchain is on the verge of becoming a smart contract compatible with the Alonzo update scheduled for next month.

Top Crypto Analyst Nicholas Merten also known as DataDash Highlighted That Goguen update Could Push Cardano To Reach $5 By 2022. Read More.

In Cardano Foundation Long Term Plans, ADA foundation announced to Onboard Ten Fortune 500 Companies,1 Billion Users, And 50 Banks in five years.

Read: Cardano Foundation Long Term Plans

Recently Grayscale that is Leader in Digital Currency Investing announced that they have added Cardano to there Crypto trusts and Cardano became the Grayscale third-biggest holding with a 4.26 percent share, only behind BTC and ETH.

Read: Grayscale Adds Cardano To Their Product Family

Also Cardano is the leading the stake able digital assets in front of ETH 2.0, Polkadot and all others, with more than 70 percent of total cardano supply locked in ADA network for staking.

Read: Cardano Gets On The Top Of Stakeable Assets List With More Than 70% Of Total ADA Supply Is Now In Staking

 

IOHK Researching On ‘Stablefees’ for Cheaper Cardano Transactions

Mark Brennan
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IOHK Researching On ‘Stablefees’ for Cheaper Cardano Transactions

The Cardano (ADA) team has begun to investigate the viability of “stableFees” that will set a base price for crypto transactions. Cardano is working on a new research project or mechanism to help make transaction fees fair, stable and more predictable over time, according to a new blog post by the parent company of the IOHK network.


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

A blog titled “Stablefees and the Decentralized Reserve System” explains that a good system must have a mechanism to adjust transaction costs so that it can remain sane and competitive.

IOHK writes:

“we explore a new mechanism that builds on Cardano’s approach to ledger rules and system assets, and complements the Babel fees concept. The systems should also allow the users to discover the correct price for timely transaction processing, depending on their individual needs.”

IOHK emphasize why not to Drop transaction fees altogether by three main reasons.

  • It is necessary to prevent the saturating of the network with worthless transactions from transaction issuers.
  • Transaction processors should be given incentives to provide quality services.
  • To incentivize people so that they participate in ADA staking and can earn rewards.

On Cardano network fees are charged per the size of the data. Cardano Smart contracts predetermined equations calculate the size of transactions in Bytes where as in Ethereum network, Fees are charged depending upon the effort required to compute and execute transactions. That is why ETH transactions become very expensive at the peak times where people have to pay more for faster transaction processing.


The basic idea behind Stablefees is to set a base price for transactions by linking them to a basket of currencies or goods. This will involve creating native smart contract that will act as a decentralized reserve, issue and manage one stablecoin tied to a specified basket.

ADA will play a dual role: serving as a reserve asset for a decentralized smart contract and as a staking reward currency.

IOHK Writes:

“The core idea behind Stablefees is to have a base price for transactions through pegging to a basket of commodities or currencies. Stablefees includes a native “decentralized reserve” contract that issues and manages a stablecoin pegged to the basket. A comparison in the fiat world might be the International Monetary Fund’s SDR, (established in 1969) and valued based on a basket of five currencies—the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling. The stablecoin — let’s call it “Basket Equivalent Coin” (BEC) — is the currency used for paying transaction fees (and all other real world pricing needs of the platform, e.g., SPO costs).

In this system, ada will play a dual role: Reserve asset of the decentralized reserve, and reward currency for staking. It will also be the fall-back currency in extreme scenarios where the reserve contract is in a liquidity crunch. Before a transaction, the issuer will have to obtain BECs, either via other third parties or directly by sending ada to the decentralized reserve contract. On what basis will the reserve issue BECs? The reserve contract will also issue equity shares -we will call them decentralized equity coins (DECs)-, in exchange of ada. Leveraging the value of DECs, the decentralized reserve will often adjust the value of BEC so it is pegged on the underlying basket of commodities. In other words, DECs will absorb the fluctuations of ada vs. the basket to ensure that the real-world value of BECs remains stable (cf. the AgeUSD stablecoin design that has been already deployed and used on Ergo).”

Users will need to own BECs by buying them or exchanging ADA for BECs under a decentralized reserve contract. The smart contract will issue BECs to users on a variety of grounds, and will also issue decentralized equity coins (decks) in exchange for ADA. The smart contract will use the value of the BEC using the value of the decks so that the BEC is tied to the underlying basket of goods.

Read: Cardwallet Passes The Occelerator Incubator Program, And Is Going To Build Cardano First Non-Custodial Full-Featured Wallet For Cardano Native Tokens

On-chain analysis platform Weiss Crypto says:

 

 

 

Should Crypto-Related Start-ups Opt For Clone Script Web & App?

Albert Brown
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0
Should Crypto-Related Start-ups Opt For Clone Script Web & App?

Time of digital (Crypto) currency has grasped a great amount of attention from lots of people while most of them are interested in investing or holding crypto coins, but some are eager to join or start crypto-related businesses.


So, in this article, we will talk about why start-ups should go for a clone website or application if they want to start their crypto-related business.

While most people think that building a website or application from scratch gives them more control over the development, it is also a fact that most of these people are looking to build web & apps with the same function that already exist.

So, how cloning can help start-ups, before digging into its benefits first let talk about what is clone script.

What Is Clone Script?

Although script cloning is a strong word in website or application development, most start-ups still don’t understand what it is, its benefits, and its facts. Most of them believe that clone script is an identical replica of existing web & app.

But it is not true, it is entirely different but the reason it is called clone script is that it has all the major functions & features that are already available in existing websites & applications.

What Are The Benefits Of Clone Script?

Most of the important key factors of clone script are cost & time reduction, Planning process, a most important competition

Let’s see these points in brief.

  • Cost Reduction

Developing a website from scratch requires a lot of improvement costs. Scripting is not only an option that allows you to build a website quickly, but it also costs less.

This is because it requires the whole idea or concept and some functions of existing popular and established websites. In this way, various resources and funds can be saved for future use.

  • Time Reduction

After you determine your business idea or concept when you start a new business, you want to enter the market as soon as possible.

This can be achieved through the use of clones script, which shortens the overall development time.

Otherwise, it will take months or years for the entire development life cycle. In this way, by cloning the website or application, you can save all the website creation time.

  • Planning Process

You want to build a website or application inspired by established and popular websites in the market.

Because most of the people believe that as they have succeeded you will too so you curate your idea based on that, so if you develop something from scratch their 100% possibility that you or your development team might miss something important there is where clone script helps.

  • Competition

There is strong resistance and fierce competition in this market, which will become a barrier for various start-up companies.

By using these clone scripts, you can easily grow your business and gain a competitive advantage.

Why Should Crypto-Related Start-ups Go For Clone Script?

As we are seeing, crypto-related businesses have gained momentum and are influencing more and more people to get involved in it.

All the start-ups want to do the same work as the others, many people among them waste huge amounts of money & time developing the same function and features.

But, they can save it by clone script, as business related to crypto revolves within a small bracket like crypto exchange & trading platform, payment gateway & crypto wallet and one of the newest businesses in this bracket is NFT Marketplace.

Conclusion

A clone script is the modern way of development. It helps a lot than developing from scratch running the development, again and again, to rectify errors, and spending time understanding the whole flow of the website or application.

So this is an overview of the various benefits of using different clone scripts that will make your business stand out internationally.

 

Twitter CEO Jack Dorsey Says It’s Only “A Matter Of Time” Before Twitter Integrates Bitcoin Lightning Network

Albert Brown
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Twitter CEO Jack Dorsey Says It’s Only “A Matter Of Time” Before Twitter Integrates Bitcoin Lightning Network

In a recent tweet, Twitter CEO Jack Dorsey says it’s only “a matter of time” before the social media giant Twitter integrates the Lightning Network, a layer-two scaling solution built on top of the Bitcoin blockchain.


The popular protocol will likely be used for micropayments on Twitter, but Dorsey is yet to provide any details about the integration.

On June 11, Dorsey responded to a question from Twitter user “deyonté,” who had requested that Dorsey should integrate the Lightning Network into Twitter or BlueSky — the decentralized social network, Twitter has devoted manpower to developing since 2019.

Twitter CEO Responded:

 

Earlier Dorsey’s payment company Square is considering developing its own Bitcoin hardware wallet.

Square revealed a partnership with blockchain infrastructure firm Blockstream, planning to invest $5 million into a solar-powered Bitcoin mining facility.

 

Over the past few years, the Lightning Network has made significant strides in terms of adoption, with Bitfinex becoming the first major exchange to integrate it in late 2019. Kraken also plans to add such functionality in 2021.

On top of that, merchants in El Salvador may also accept payments over Lightning, which will give a major adoption to the BTC Lightning Network.

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