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Market Waves and ADA Research

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How about it, guys and gals! Good job not throwing your computers out of the window and hodling on. I wish I could tell you anything about why we dipped into the BTC four-figure category, but my guess is as good as yours. The cryptocurrency markets work according to fear, and if you stand up to the virtual lion you can make a lot of money. Everything in my last article is up roughly 20-40%. That isn’t my expertise in crypto picking, the wave just came in.

Nobody knows when it will come back again, so you have to trust your price picking. Everything became not-so-attractive within a morning trade. By the time I looked on the exchanges, everything was low, but not so low that it was attractive to buy. The market tests all of us. We just dropped for regulation whispers. Regulation enforcement could rock this ship off course again, which is why profit taking is so important. I am not telling you to go buy a nice new couch. I am telling you that you saw how quickly a 30-40% gain can happen. When the wave goes back out to sea, that’s when you jump in. I am always ready.

Let’s see, of the unattractive prices, I have been inundated with social media buzz about ADA. I have previously owned some appreciated ADA ,which was wonderful. Speculation can have treasures. However, I became very skeptical of high supply coins, and lessened my exposure. As I continue to learn as quickly as I can about this crazy world, the “P” word came up about ADA, which intrigued me.

ADA

Charles Hoskinson is a very smart man who was part of the Ethereum project, before a difference of opinion drove him out of the loop. He left to work on the Cardano project. IOHK is his development arm that has been contracted to develop Cardano. Emurgo is the commercial arm that supports the business applications on Cardano.

Difference of opinion people are double edged swords. Just like our old pal Jed at Lumens, the divergent characters can be the ones who open the gates of Valhalla through innovation, or the gates of Hell through hubris. I won’t be able to tell you who Charles is yet, because there simply isn’t enough information. From the things I have listened to, he is a very intelligent man with very distinct goals (plural).

Cardano is an Ethereum-like platform that has advanced smart contract technology, and a unique technical infrastructure. About 97% of the ICO volume was from Japan, and many people are speculating its wide scale adoption through ATMs and payment systems in one of the most tech savvy places in the world. Those are big goals.

Nuts and Bolts

Proof of Stake: This is a much faster, streamlined, and energy efficient method compared to proof of work. When you see people running mining farms and having to calculate electricity costs, you can’t think that this is going to be a sustainable way of doing business. China has been kicking energy hogs out of the country, and I don’t know why we go two steps forward with blockchain, but one step back with big fans and mining farms in low cost areas. It just doesn’t seem like something that is going to carry forward, at least in the way it is being done now.

Ouroboros and the Epoch System: Scheduled mining. The Chain is divided into Epochs. Those Epochs are divided into slots. Not everyone can mine slots at once, and they elect slot leaders who can mine a specific block in their “slot”. I believe this regulated way of mining allows the miner to not to have to play (and cost) the equivalent of an entire Metal Gear Solid story map (12 times in a row) to get anything done, while also giving Cardano the ability to scale it at their own pace, by making more slots in each Epoch, or making more Epochs to fill with slots. That’s the deepest technology jargon you will hear from me. I am attaching the link of a wonderful explanation that would do it 100 times better than I.

Network System: Instead of all data needing to go to all nodes, they have networks of nodes that will store local information to the network, but with the added ability of communicating with other networks. This sounds like the internet of/for miners. Just like the internet in the 1990s, it all has to start with the tech people talking to each other on it. Back then, it was the government. However, people came along and designed software and web browsers that made it a public product, and not a technical one. I am hoping local miner communication/storage is just the beginning of the use of this infrastructure on the blockchain.

Treasury System: This was a fantastic business idea. For each transaction, Cardano places a portion of the revenue into a smart contracts based treasury. The treasury awards money based on people submitting improvement proposals to the network, in which their peers will review their proposal and vote on the ones they believe will most benefit Cardano. If there is a smart contract designed to award money to innovative people in perpetuity at Cardano, I wouldn’t see why someone wouldn’t keep coming back to the well that always has water?

Goals, Goals, and more Goals

“Cardano is home to the Ada cryptocurrency, which can be used to send and receive digital funds. This digital cash represents the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.

Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world.” (Source:https://www.cardanohub.org/en/what-is-cardano/)

There are so many projects within Cardano. I love its goals, but I just want to know which one will make coin holders the most money. Its claim of a “separate computing layer” sounds like the one I like the most for this reason. If we have a long and windy road of being a community coin until we get to business coin, I am not interested. That may not be the case at all, and we begin to see some real commercial use going on. It is quite early.

Conclusion

Overall, Charles has a broad array of global people working for him, making a “better” ADA coin. Right now, I can’t see what a “better” ADA coin is in their minds. There are so many goals listed (Interoperability, Scalability, Sustainability), not to mention sub-sects within the goals. I would love to tell you about target markets and competition, but they are going after everyone! They are trying to design an all-in-one blockchain/crypto that can be the unified solution. I can’t qualify an all-in-one coin on a SWOT analysis.

Time is going to tell us which one of these goals is the focus. Here in lies the bet. I am exposed to ADA, but not in a way I am to the other platforms. With billions in circulating supply, this wasn’t meant to be a gigantic coin like bitcoin. At $0.60, there is certainly money to be made, but this is more a small speculation bet until I hear more about customer types, and primary target markets.

I see a lot of currencies throwing all types of money at technical developers, but not business people. A lot of currencies could brush up their image if they knew how to talk to people who have their coins. If you go on Shark Tank or Dragon’s Den saying your competition is everyone and your market is everyone, you better have a darn good sales pitch. I would start by creating a hierarchy of needs to be completed according to what will derive the most coin holder value, not what is going to be the most revolutionary. Time will tell with Cardano.

 

 

This is not a recommendation to buy or sell cryptocurrencies. I hope this is helping you in your thought process on a flat’ish day so you can reap the benefits of the market at any given time. I hope you make money, but your decisions should never be based on anyone else. I have never heard a rich man say, “I just listened to an article on the internet…and BOOM”. Don’t think that will be you.

Do follow me @raijincrypto on Twitter if you would like to chat on cryptocurrencies.

 

 

 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 27 rated postsMythological God of Lightning. Cryptocurrency/Blockchain writer, evangelist, and friend. May the odds be ever in our favor.




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Altcoins

60 Minutes Showcases Potential of DNA and Genetic Genealogy; Opportunity for Crypto Investors

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DNA Storage

Throughout the years, 60 Minutes has been responsible for reporting on some of the biggest stories in the world.  Many of the most memorable episodes have involved world leader interviews, stories on endangered animals, profiles of famous celebrities, and occasionally, segments on promising developments in business and science.  A week ago, 60 Minutes had a very interesting report on how the authorities used Genetic genealogy to solve the case of the Golden State Killer, and how the authorities plan to keep using this new field to solve more cold cases in the future.

On April 25, 2018, authorities in Sacramento announced that they had solved the notorious case of the Golden State Killer.  Authorities were able to use a promising new technique called Genetic genealogy to help identify 72-year-old former police officer, Joseph DeAngelo, as the suspected killer.

Genetic Genealogy

Genetic genealogy is a mixture of high-tech DNA analysis, high speed computer technology, and family genealogy.  The end goal is to determine the level and type of genetic relationship between individuals.

In the case of the Golden State Killer, DNA came into play because the killer had committed at least 12 murders, 50 rapes, and many home burglaries.  Investigators were able to obtain DNA from the killer at one of the reported crime scenes.  After many years of frustrating dead ends, a cold case investigator submitted the obtained DNA sample to GEDmatch.  GEDmatch is the largest public genealogy database in the world.  After uploading the sample, authorities were able to generate a handful of leads which eventually led to the front doors of Joseph DeAngelo.

In addition to the Golden State Killer case, authorities have used Genetic genealogy to make arrests in at least 11 other cold cases.  While the science appears to be sound, there is a legal question that has yet to be answered.  There is no doubt that attorneys for the accused will raise the question of privacy and whether using databases, thought to be private, should be legal.

Opportunity for Crypto Investors

While I’ve invested in equities and crypto for many years with varying degrees of success, I’ve never had the opportunity to invest at the beginning of a new frontier.  Fortunately, the opportunity has come.  Encrypgen (DNA) is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data.  This creates a fair marketplace for a person’s DNA that can be stored private and sold (if a person wishes to do that).

Over the past few months, Encrypgen has been gaining attention in the mainstream media because of their revolutionary technology as well as the fact that their closest competition is still years away.

In August, Encrypgen released a beta version of its Gene-Chain.  The Gene-Chain allows consumers to upload their genetic profile and for researchers to purchase that genetic data.  Within the next 2 weeks, the company plans to release the full version of the Gene-Chain which will officially make them a new pioneer in the field of genomic blockchain security.

With the DNA token hovering at approximately 5 cents, the time is running out to accumulate at bargain basement prices.  I fully expect the token to achieve utility in the next several months which will cause a rocket-like explosion in the token price.  There is no looking back now, only forward, and I love what I see.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Fantom – The Next Big Thing?

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Fantom (FTM) is a a Directed Acrylic Graph (DAG) based smart contract platform in which the more nodes participate in the network, the greater the transactions per second. The project is aiming for 300,000 transactions per second, which would be applied to multiple industries such as food technology, financial services, telecom, logistics, etc. Fantom is designed to offer instant payments, near zero costs, and unlimited processing scalability. Like Ethereum, Fantom supports Smart Contracts but they run on the Fantom Virtual Machine vs the Ethereum Virtual Machine. Why is that important? Because the FVM will allow developers to write dApps that support smart contracts just like ethereum but run light-speed times faster.

A lot of new blockchain projects talk as if they will challenge the top blockchains and take over their spot. While this is speculation and mostly hot air spoken by many projects, Fantom has a great shot at taking off as one of the top blockchains. Andre Cronje, well respected in the ICO scene as a technical blockchain expert, was added as part of the technical team recently. Having a team and community as strong as Fantom does gives it the extra push needed to take off. While other projects are implementing directed acyclic graphs (DAGs), Fantom is the first to do this with smart contract support.

Fantom operates on a system called OPERA, which is divided into three layers:

  • OPERA CORE LAYER – processes transactions, maintains consensus across all nodes via the Lachesis Protocol
  • OPERA WARE LAYER – supports smart contracts, executes functions
  • OPERA APPLICATION LAYER – supports third-party applications, provides publicly available APIs for dApps

Partnerships with credible companies definitely help the legitimacy of an ICO and Fantom has already made numerous significant partnerships such as the Korea Food-Tech Association and Oracle that will significantly enhance their chance of success. The company, in collaboration with NEM Blockchain, has recently announced it’s expansion outside of Korea into Australia. Fantom has chosen Australia due to their innovative culture and supportive government. Fantom is committed to working with local communities and governments to utilize Fantom technology across multiple industries. They are focused on creating real-time use cases of their platform by on-boarding Australian businesses in the next twelve months. Australia has hundreds of merchants who already accept cryptocurrency including the first airport in the world to do so. Fantom has already been working behind the scenes engaging with payment providers about using Fantom token as they expand globally.

Multiple blockchain projects are claiming to be the fastest with the highest tps, but have not come through on their promises. Fantom has an excellent shot at actually accomplishing this and immediately becoming a major player surpassing those that have fallen short.

Unlike many recent ICOs, which are constantly delaying and postponing the release of their tokens due to current market conditions, Fantom is unlocking and listing on October 29th. The project recently released a recent Technical Whitepaper concerning the Lachesis Consensus Algorithm, making another version of the Technical Whitepaper detailing the Fantom Framework ready, and preparing a testnet demo video to be available soon.

With major funds invested for the long haul and markets such as the USA, China, and Korea unable to participate in the much-hyped ICO, there should be quite a bit of immediate interest and demand upon listing on exchanges. The last ICO with similar hype was QuarkChain which also did amazingly well in this market. Fantom had a hard cap of $39 MILLION at the time of ICO raise and is expected to perform well.

Diclaimer: The author has invested in Fantom.

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 53 rated postsKent Hamilton - Co-Founder of CryptoDayTrader.io, where we are building Pro Crypto Tools




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Why Investors Should Pay Attention to Blocknet

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Even in the “crypto winter” we are currently living in, the blockchain industry is still growing. This is a good thing for the industry in many ways, but all of these various networks have developed in a siloed and separated way.

Some companies have emerged that seek to help the various networks work together and harvest synergies. If blockchain was meant to be a new manifestation of the internet, these networks could be considered a new manifestation of blockchains. One such company is Blocknet.

Blocknet’s Mission

Blocknet is often referred to in the colloquial as “Block” and functions as a decentralized platform-as-a-service service. The basic goal is to connect the nodes of different blockchains to create a network of networks. The endgame here is to make it possible for applications to be developed on one blockchain but be used on another.

The network is composed of three key components: a node exchange, coin exchange, and data exchange. The XBridge is the blockchain router than connects nodes on different blockchains and makes it possible for them to communicate with each other.

The XBridge also enables cross-chain atomic swaps using a coin exchange protocol. We will go into more detail into this in a bit, but it is essentially a DEX. Finally, there is the inter-chain data transport that allows for feature sharing and smart contracts to be executed across chains.

Market Demand

Blocknet was founded in 2015 and finally launched their mainnet in September 2017. The market has been looking for a solution like this. There is competition from other networks like 0x, but they have already started to integrate their networks with Blocknet. By seeking to be a super-network, it is eliminating the idea of competition.

A big part of Blocknet is the decentralized exchange (DEX) that it runs. What makes it special and sets it apart from the competition is that it is more than just an exchange for ERC-20 tokens. It enables the trading of every coin that is integrated into the network.

The Blocknet DEX will be designed to enable an unlimited amount of trading pairs, and will enable complete anonymity for users. Additionally, by avoiding a central entity, you always retain complete control over your funds.

BLOCK Token

The token has two functions. First, they are used to pay trading fees and for the operation of applications on the network. Second, they are required to be staked as a service node or staking node. These are the nodes that distribute trade fees or confirm network transactions.

BLOCK trades on Bittrex, and in terms of recent performance, we have seen a heavy decline from the highs that BLOCK reached last year. However, it seems to have reached a bottom and found a support level. As we head in the last quarter of 2018, it could be time for a recovery, and BLOCK seems poised to take advantage of this.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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