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Cardano Founder Teams Up With Polymath to Launch Security Token

Charles Hoskinson Polymath Security Token 2019

Charles Hoskinson appears to be a busy man in cryptocurrency.

In addition to being one of the original co-founder’s of second ranked cryptocurrency Ethereum, Hoskinson is the founder of Cardano (ADA) and CEO of Inside Outside Hong Kong (IOHK). Now, the prolific crypto developer has announced a partnership with Polymath to launch the world’s first security token blockchain.

The project was announced at the Consensus 2019 event on May 13, and will be named “Polymesh,” marking a joint collaboration between Hoskinson as co-architect and the world’s leading security token platform. Polymath has previously issued security coins as ERC-20 tokens, building on the framework of Ethereum’s blockchain. As opposed to utilizing an existing network currency such as Ethereum or TRON, the Polymesh project will see the creation of a standalone token, constituting the world’s first security token blockchain.

Hoskinson and Polymath see the project as a way to further the tokenization of securities, an issue that has seen stagnate adoption thus far largely due to compliance issues. Speaking with Rachel Wolfson at Forbes, Polymath co-founder Trevor Koverko explained the new venture’s outlook,

“Polymesh is a new security token layer one blockchain. It is purpose built, since security tokens have unique needs and characteristic that demand a specific foundation. Ultimately, we want to marry issuers, investors and regulators together, which is what the layer one architecture is designed to do.”

Polymath explained that while ERC-20 tokens have been serviceable thus far, Ethereum is not equipped for handling the regulatory and compliance hurdles associated with tokenized securities. By building a proprietary blockchain and token, Polymath invisions PolyMesh becoming the framework technology to drive global markets, imparting the efficiency and advancement of cryptocurrency to do so.

Hoskinson also gave an update on his role in the project, and explained motivations stem from the excitement of tackling a ‘quadrillion’ dollar market,

“After co-founding Ethereum and Cardano, two of the most widely used blockchains in the world, I am looking forward to working on Polymesh. There are quadrillions of dollars of financial securities, and building a blockchain to secure them is an incredibly exciting task.”

The Cardano founder further explained the need for differentiation in cryptocurrency and security tokens. While cryptocurrency, such as Ethereum, may operate optimally in an open system, Hoskinson argues that security tokens require more nuance in order to achieve usable scalability,

“Security tokens are data intensive protocols, which means operating costs will be high, and this won’t scale if we are talking about millions of securities, which we will eventually see. Moreover, things need to be done that you wouldn’t want to be done on Ethereum, like freeze or reverse transactions. So we are at odds with the standard Bitcoin ethos here.”

Polymath claims that while PolymMesh will not function as an entirely open system, it’s not going to be a private network blockchain that relies upon permission. Instead, Hoskinson is referring to the project as a “hybrid network,” which layers multiple systems together, allowing for the blockchain to operate in a framework with restrictions and the potential for augmentation.

The post Cardano Founder Teams Up With Polymath to Launch Security Token appeared first on Ethereum World News.

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Charles Hoskinson to Launch Security Token Blockchain With Polymath

The Ethereum co-founder will work to build a platform dedicated to compliant security token development.

Security token platform Polymath will build a separate blockchain for regulation-compliant tokens with an Ethereum (ETH) co-founder, the company confirmed in a blog post on May 13.

Polymath, which has already contributed to the launch of over 100 security tokens, will now work with Charles Hoskinson on a new project dubbed Polymesh.

Hoskinson, who after Ethereum became known for his subsequent cryptocurrency projects Cardano (ADA) and IOHK, will leverage his expertise to inform the development of the new platform.

The partners confirmed the plans at the ongoing Consensus 2019 conference Monday.

“There are quadrillions of dollars of financial securities, and building a blockchain to secure them is an incredibly exciting task,” Hoskinson commented in the blog post.

Polymesh will form the basis for developers to launch security tokens tailored to market needs while fully compliant with local regulatory requirements.

This, Polymath says, represents a progression from Ethereum, which serves decentralized objectives.

“Ethereum was not purpose-built with regulations or compliance in mind. It was built to enable ‘unstoppable applications,’” the blog post explains. It continues:

“By contrast, Polymesh is being built from the ground up with these considerations to become the underlying infrastructure for the world’s capital markets.”

The announcement comes two months after Polymath partnered with funding platform SeriesOne to expand the range of possibilities available to security token developers.

In April, Hoskinson himself meanwhile appeared to criticize Ethereum’s current purported stand alone development trajectory, as it continues with its Casper innovation.

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Charles Hoskinson-Backed Prediction Service Launches, Offers ERC-20 Token Price Insights

Endor’s new protocol leverages artificial intelligence and targets ERC-20 tokens as one of its use cases.

Predictive analytics firm Endor has launched a blockchain-powered tool allowing businesses and cryptocurrency holders to ask and answer questions based on big data. The company confirmed the launch in a press release provided to Cointelegraph on April 4.

Endor, founded by two MIT researchers, has offered enterprise prediction solutions since 2014. Today’s announcement reports on the newly added Endor Protocol, which will leverage artificial intelligence (AI) to analyze data sets.

In addition to business strategy, the protocol will also be able to offer insights into areas such as ERC-20 token performance, executives say, including likely price and volume behavior.

The protocol has its own token, EDR, which has circulated since June 2018, several months after Endor completed its initial coin offering (ICO).

Endor’s product has the ability to analyze encrypted data without decrypting it, a feature the company says helps bolster user data security.

In February, Endor hired Ethereum (ETH) co-founder Charles Hoskinson as an advisor prior to the rollout.

“This is an important step towards democratizing access to AI and Data Science, as such advanced technologies were previously available only to large companies with deep pockets,” he said about the protocol launch.

At the end of March, fellow predictive startup Numerai announced that they raised $11 million in an ICO, which will go towards hiring engineers for their decentralized unit Erasure. Erasure will operate by enabling users to sell their predictions to any investment fund in the public network.

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Altcoins Daily Preview: Cardano 1.4 Update is Massive, Tron Blasting Transaction Records

Latest Cardano News

There is a lot of interesting stuff going on in Cardano right now and although ADA prices are taking a hit, we cannot discount the excellent job they are doing as far as on chain development is concerned. To begin, they caught the attention of the blockchain community when they launched two smart contracting tools last week. These two—Plutus and Marlowe, were rigorously built tested before launch.

Moving on these are the kind of tools the community need as it bid to topple competitors. Remember, Cardano has ambitions to dominate the financial sector. Plutus and Marlowe would come in handy and companies can easily write and simulate smart contracts right on top of the Cardano blockchain before deployment.

Read: Linkedin: Blockchain Developer is 2018 Most Growing Job Sector (33X)

Days later, Charles Hoskinson, the co-founder and head of IOHK said the team is ready to launch Cardano 1.4 update on Dec 18 (tomorrow) after a “huge amount of QA work”. If anything, this is significant development and aside from storage capacity increase and other code fixes, Cardano 1.4 lay the rails for complete decentralization during Project Shelly.

ADA/USD Price Analysis

Week over week losses are mild and ADA is down seven percent against the USD in the last week. Like it has been the norm, sellers have an upper hand but after the bear breakout of Dec 6, ADA/USD found support at around 2.7 cents or Dec 7 lows.

Prices have since been consolidating within Dec7-9 high low with clear resistance at 3.3 cents. Price action between Dec 7-9 is significant because not only did it shore prices but backing these higher highs were high trade volumes.

Furthermore, ADA/USD prices largely confined within these high lows. From an effort versus results point of view, this is bullish and it’s because of this that we expect ADA to recover and even retest 3.3 cents.

If that is the case, chances are the resulting interest could propel prices back to Nov 29 highs of 4.5 cents. Otherwise, slips below 2.7 cents could see ADA collapse to new ATLs.

Assuming bulls reign, then this will be our ADA/USD trade plan:

Buy: 3.3 cents

Stop: 3 cents

First Target: 4.5 cents

Latest Tron News

Tron is blasting records, days after processing 2.53 million transactions and recording a 32,284 jump in the number of addresses, Justin Sun is now pointing to the stellar number of total transactions processed since launch.

Also Read: TRON [TRX] Exceptional Network Performance: 2.53MM Txs/day

Still gambling sites dominate the top 10 with TronBet a stand out.

The game has been played more than 10,000 times and has paid out more than 10 million in TRXs.  Together with TronDice, the surge in the number of daily transactions helped Tron eclipse Ethereum as the most active platform.

TRX/USD Price Analysis

TRX/USD Price Analysis

After EOS and Binance coin, TRX is the third top performer in the last week. It is stable in the last 24 hours and from candlestick arrangement, prices could print higher in coming days.

As laid out in previous TRX/USD trade plan, bulls will only be in charge if and only if there are solid gains above 1.7 cents. Before then, the first wave of TRX buyers should enter the market once there is a high-volume break above 1.4 cents or Dec 12 highs.

This could pave way for price expansion towards 1.5 cents and even 1.7 cents. If not and prices collapse below Dec 12 lows of 1.2 cents and odds are TRX will sink towards Jan 2018 lows.

This is our short term TRX/USD trade plan:

Buy: 1.4 cents

Stop: 1.2 cents

Target: 1.7 cents, 2 cents

All Charts courtesy of Trading View.

This is not Investment Advice. Do your own Research.

The post Altcoins Daily Preview: Cardano 1.4 Update is Massive, Tron Blasting Transaction Records appeared first on Ethereum World News.

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Cardano (ADA) Blockchain Infrastructure Grows More Creating Promising Atmosphere for Investors

The first born out of philosophic research – Cardano (ADA) protocol. Very similar to Ethereum’s PoS mechanism but with improved speed and efficiency the platform delivers more advanced features without stepping down the original idea of crypto – decentralization.

While maintaining the balance of the three big ones: Decentralization, Security and Speed, Cardano attempts to improve proportionally forward with each release or published paper. This is the real vision of its founder – Charles Hoskinson, who is at the same time one of the individuals that commenced the Ethereum project.

“What we’ve done with Cardano is start with asking ourselves what a blockchain is. Does proof of work actually make a blockchain secure? Is there a way to build PoS with the exact same outcome? […] Can we do things in a way where we can achieve classical performance with decentralization so that we’re moving the tradeoff profile in a certain way? […] Every time Cardano publishes a paper we are taking a step forward.”

Bittrex, one of the leading cryptocurrency exchanges by trade volume around the world, announced a few hours ago its decision to enable crypto/fiat trading pairs for Cardano and Zcash. Its official account tweeted this and later confirmed via an email sent to its subscribers.

Bittrex is excited to open two new US Dollar (USD) markets, Cardano (ADA) and Zcash (ZEC), on September 5, 2018! …

The approval process is fast and once approved you can trade all USD markets Bittrex offers today and in the future. When approved for USD deposits and withdrawals we will reply with wire transfer instructions and you will enjoy industry-leading same or next-US-business-day deposits and withdrawals. Follow us on Twitter for new USD market announcements and the latest updates.

Its architecture and project infrastructure as a whole widespreads even more. Cardano Wallet specification will most likely produce the highest quality cryptocurrency wallet that meets certain standards. These specifications can vary  from what is expected as for example the user interface but more concentrate on the communication blockchain-software. IOHK CEO Charles Hoskinson added:

“The release of the formal specification of the Cardano Wallet Backend is a major milestone for us and for all crypto. You should demand this standard for all protocols”

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Ripple’s XRP and Tech best Choice for Amazon to Go

The Crypto – Market – Ripple’s XRP

Despite many believing that the same 2017-gold rush will return very speedy this year, it seems like we have to wait a bit longer. In these times of violent sell-offs, it is of positive nature to return to the words of Bill Barhydt – CEO of Abra, who said:

“I talk to hedge funds, high net worth individuals, even commodity speculators. They look at the volatility in the crypto markets and they see it as a huge opportunity. Once that happens, all hell will break loose. He added: “Once the floodgates are opened, they’re opened.”

Parallel to that, just yesterday the CEO of IOHK and Cardano co-founder Charles Hoskinson on an announcement video regarding his platform added that this unsettling market volatility happened even before and we were there so everything is fine.

Keeping the above in mind, it is a good moment to look out for the best choice in the market. The prices have dipped majorly and there is a high chance it will be very rare they are this low again. So, whichever your choice is, this time around is a golden windows opportunity to step in.

Ripple’s Tech Able to Support Giants

Ripple’s XRP has established itself as one of the primary cryptocurrencies to shape the future of digital commerce. As the existing financial infrastructure does need a good rework, one of best to go [many cooperation, financial entities and firms have returned with positive test results] could be turning Ripple‘s XRP, xCurrent and xRapid.

For a company like Amazon, the best yet to do after witnessing many commencing digital currency support is to go for the one that is most user friendly.

Ripple’s high coin supply and subsequent lower price-per-coin will come in handy for creating a user-friendly market. Cryptocurrency will never find a place on Amazon’s market if it can’t prove to be beneficial to the customer experience. Price volatility and slow transaction times are antithetical to this mantra. But Ripple offers an alternative.

Let us say that the coin is implemented and it is targeting users. What would be simpler for the online store user to handle with .0001 BTC or lets say 1 XRP. For a trader or someone that works in the finance it is the same as the pricing has no difference. However, for a consumer it is much easier to go with 5 XRP instead of 50,000 satoshis.

Speed

Speculation of an Amazon partnership were first seen in the Crypto-verse late last year. The idea behind the speculation hinged on the reliability of XRP during transactions. The coin is known for 3.3 second transaction speeds and $0.0004 charges per transactions. These are performances that a leading online retailer like Amazon needs for the process of moving into the future and improving the online payment settlement.

The event would not be that shocking because we have to keep in mind that Ripple’s tech is being tested and promoted by various firms, baking institutions or financial companies like MasterCard American Express, Santander.

XRP Best of Exchanges

The Binance cryptocurrency exchange is one of the most active ones in the crypto-verse. There have been many and popular tweets circulating the crypto-verse by enthusiasts that XRP should be a base coin for Binance. Some of the reasons XRP fans outlined in the comments of the tweet as to why Binance should start pairing the digital asset as a base for trading are as follows:

  • It would help Binance for it is faster and cheaper
  • A base currency of XRP would bring in more users to the exchange
  • XRP is the fastest digital asset to transfer funds between exchanges

Accordingly, Weiss Ratings has also agreed and supported the request to add XRP as a base currency on the exchange.

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Cardano (ADA) Improved Version Announced by CEO Charles Hoskinson

New Protocol Cardano

Via his twitter handle, the founder of Cardano project and ex-part of Ethereum – Charles Hoskinson, declared the newest version of Cardano’s protocol.

The specific details on the release have yet to be made public concerning the updates of the 1.3 protocol version. The bettering mostly as it seems target the Daedalus wallet and the protocol itself. Mr. Hoskinson commented on how the main issues to deal with were memory improvement and speed, and the 1.3 version has cleared the QA period. The stated update is set to come true in the next days, while the 1.4 according to the roadmap is set to go into the QA period after Sep 4.

Cardano ADA

Cardano was seen as a project potentially displacing Ethereum with a better consensus approach. However, at the moment, the Cardano network does not even line up among the most active ones. Numerous ADA owners hold their assets in the Binance wallet, which is the richest one with around 10% of ADA holdings.

The daily active unit in terms of daily trx is far lower at Cardano’s blockchain compared to platforms like TRON (TRX).  The network’s explorer showcases that the blocks mostly hold one or two transactions.

Continuing, Mr. Hoskinson believes and hopes to see Cardano be the first trillion dollar cryptocurrency. With the event it would clearly prove that it is a self-maintainable financial structure. Parallel with that, with ADA he wants shift while shaping differently how we think of the coins and use them. While many see ADA tokens just as a way to profit financially by selling, buying [trading], Charles Hoskinson mentioned that he has high hopes that users will find the opportunity to use the coins in real life.

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Cardano (ADA) Founder Sheds Light on Ethereum Classic

Cardano (ADA)–Cardano and IOHK Founder and Ethereum co-founder Charles Hoskinson has had a substantial impact on the direction of cryptocurrency. From his position in getting the second-ranked cryptocurrency by market capitalization up and running, to his creation of the Input-Output Hong Kong organization, which created Cardano ADA, Hoskinson has had has finger on the developmental pulse of the industry.

Speaking on the YouTube Channel Learn Crypto in an interview published Friday, Hoskinson gave his opinion on the Ethereum Classic (ETC) currency, a hard fork from Ethereum (ETH) which in part led to the creation of Cardano. Following his departure from the group of original Ethereum founders, a relationship that did not end 100% amicably, Hoskinson joined the Ethereum Classic team in 2016 to help guide the coin following its hard fork from ETH. The primary difference between ETH and ETC is that the latter promotes the idea of unrevisable, immutable blockchains. Following the The DAO hack, which essentially split the community of Ethereum, ETH Classic miners continued to trawl the original ETH blockchain–as opposed to participating in the new blockchain that returned ether to impacted investors. At the time, the move was hailed by equal parts admiration and derision. ETH supporters saw the move as a way to counteract the illegal theft of a hacker. ETC proponents felt that, while the hack was not to be celebrated, it was constitutionally wrong to the currency to revise the blockchain under any circumstance.

Hoskinson joined with the latter of the two, telling Learn Crypto,

“So…  I put my name brand and reputation on Ethereum and you know I went my own way but I still believed in this whole philosophy of the system.”

He goes on to expound upon his support for Ethereum Classic over ETH,

“I felt that you can’t go raise 18 million dollars and market something one way, and then when it’s inconvenient to you, you go change the terms of sale without the consent of the customer, and not a lot of customers participated. I think the vote was less than 10% participation and there wasn’t lot of time and it was just a knee-jerk decision.”

Hoskinson tells more about the conception of Ethereum Classic, speaking on the ease of which a developer can create a fork of a currency. However, he also relates how his experience with ETH and ETC set him up for the creation of IOHK and the Cardano ADA currency that followed. In particular, he highlighted the importance of currencies focusing on scalability, a feature that Cardano has been pushing for some time, in addition to higher TPS and a growing user base,

“Cardano’s trying to cover all three areas. So we started 2015 it was basically just a collection of concepts. We get about three years of research and development and now we’re in a position where we think we have a pretty good shot at being able to pull it off.”

In May, Hoskinson made somewhat controversial headlines when he called into question the massive market cap ascribed to Bitcoin and Ethereum. While not outright calling the currency worthless (as some outlets have run with), the IOHK CEO did find fault with what Bitcoin and Ethereum have done, or are in the process of doing, to deserve their spot at the top of the industry’s market capitalization,

“Why is anybody worthy of their positions in the market cap? Bitcoin is advertised as a payment system and a means of exchange, and then everybody who’s ever tried to use it for that, it’s been a miserable failure. They usually stop taking it, or they find ways to take cash, and through a creative structure like what Bitpay has done. Ethereum claims to be a world computer, but then CryptoKitties breaks it.”

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A $3.3 Billion Claim: Has Cardano's Blockchain 'Solved' Proof-of-Stake?

“Proof-of-stake is solved.”

Even in an industry that’s seen no shortage of grand proclamations, those words, issued by entrepreneur Charles Hoskinson in April, grabbed attention.

The CEO of blockchain firm IOHK (and one-time CEO of Ethereum), Hoskinson was seeking to send a message about a new research paper, one he believes proved that the company’s novel twist on how blockchains come to consensus, called Ouroboros, had addressed long-standing concerns about whether the model can sufficiently secure investor funds.

Given the size of the claim (and its impact), it’s an assertion that sparked doubt from cardano’s more prominent competitors. However, months later the team at IOHK maintain Ouroboros may be the answer to one of crypto’s most divisive questions – whether so-called proof-of-stake systems offer solutions to some of the industry’s pressing problems.

So far, the market appears to be interested in the opportunity to support the thesis.

Soon to power the public blockchain cardano, Ouroboros may one day support the world’s eighth-largest cryptocurrency, with its 25 billion ADA tokens worth $3.3 billion. And a look at the history of proof-of-stake systems perhaps showcases why so much money is on the line.

First pitched by developers Scott Nadal and Sunny King in 2012, proof-of-stake offers what is claimed to be a more sustainable alternative to proof-of-work, the consensus method underlying the world’s biggest blockchain by market cap, bitcoin.

Allowing users to vote or “stake” their coins on a transaction history in exchange for rewards (instead of burning computational energy), it’s relatively untested, having so far only been adopted in hybrid, small-scale or delegated formats.

So, while bitcoin’s security is comparatively proven (its blockchain is currently sustaining $114 billion and has held up for years), many crypto coders believe proof-of-stake is necessary to transition the industry into the next phase, in which users no longer have to own hardware in order to claim a blockchain’s rewards.

The trouble is, no one can agree on how this should be done.

“Different consensus algorithms do well in different environments,” Nate Rush, a proof-of-stake researcher for ethereum, told CoinDesk, “If the assumptions that some protocol is ‘solved’ under turn out to break or be unrealistic, then this protocol can fail.”

Still, the team behind cardano, IOHK, have worked to secure academic partnerships, as well as relationships with researchers in the field distributed computation in an effort to prove the proof-of-stake model can be achieved.

Taking the security of bitcoin as its starting point, the chief scientist behind the protocol, Aggelos Kiayias, has created formal proofs for each step of the protocol’s design, used to dispel doubt as to the algorithm’s ability to protect assets.

Kiayias told CoinDesk:

“Contrary to [other proof-of-stake protocols], we developed Ouroboros together with a formal proof of security that the protocol indeed captures the security properties of a robust transaction ledger like bitcoin.”

Peer-reviewed protocol

But it’s not just proof-of-stake researchers that disagree – in the broader landscape of consensus design, there’s some who believe proof-of-stake is doomed from the start.

For example, Dahlia Malkhi, a distributed system researcher, claimed earlier this year that ethereum’s proof of stake model, Casper, is “fundamentally vulnerable”- leading to a system where consensus is powered by the wealthy.

Yet, in this atmosphere of skepticism, cardano has amassed a high degree of academic support, building strategic university relationships through IOHK- a for-profit company with centers in several universities, including the Toyko Institute of technology in Japan, University of Athens, and University of Edinburgh.

“We basically have a kind of a university-company relationship, so what we generally do is we set up research centers, we embed some IOHK personnel within those research centers, and we subsidize the lab, and then we have some sort of control or influence over the research agenda,” Hoskinson said.

Responsible for ethereum classic, zencash, as well as cardano itself, according to Hoskinson, these academic partnerships feedback into the IOHK’s cryptocurrency solutions.

“Generally, the output of this relationship are peer-reviewed papers and we have a team within IOHK that take those papers, extract specifications from them and then put them in the pipeline for implementation into products,” Hoskinson continued.

Alongside further relationships at Lancaster, Kent university, Oxford, and Illinois, the advantage is that the relatively small pool of researchers equipped in the topic have had their eyes on Ouroborus, which has been toured around at various academic conferences as well.

“We’ve brought in the total set of people who are actually looking at trying to break, trying to enhance, our core protocols, and there’s a lot of hard work that has been achieved as a result of that,” Hoskinson told CoinDesk.

Gearing up to become a fully fledged smart contract and cryptocurrency platform, cardano currently has limited functionality, but it is introducing the necessary features to transition to proof-of-stake throughout this year.

Currently tweaking the final details under simulations, Hodskinson urged that Ouroborus comes with advantages over other protocols. For example, he says the system is the only one that will allow users to stake from cold storage, and use multiple addresses to manage their finances.

Hoskinson told CoinDesk:

“The long-term goal is to try to completely replicate all of the security capabilities and functional capabilities that the proof-of-work system has without actually having to expend any of the electricity or effort that proof-of-work does, and it looks like, now that we’ve put about two-and-a-half years of research into this thread, Ouroboros is now converging to that stage.”

Theoretical unknowns

Still, at the time of writing, it’s unclear how the protocol will behave in the wild, and there’s ways in which the wider proof-of-stake research community hasn’t been entirely receptive of cardano’s claims.

For example, no one has been as critical as EOS’s creator Dan Larimer, a former colleague of Hoskinson, who wrote that not only is “Ouroboros is a 400-pound bulletproof vest that doesn’t actually stop the real bullets,” but claimed it was a badly conceived variant of an algorithm he had designed in 2014.

(EOS uses a form of proof-of-stake that relies on delegated nodes that have been nominated the task of reaching consensus.)

Ethereum, of which Hoskinson was a co-founder, has also signalled skepticism.

For example, speaking on reddit, ethereum founder Vitalik Buterin warned one security assumption of the blockchain could allow hacker to create false histories on the blockchain.

There’s also different approaches to design. While the protocol itself is in place, IOHK are still working on building the underlying incentive scheme, something that Casper researcher Vlad Zamfir believes should be designed in tandem with the tech.

Attempts by CoinDesk to engage researchers with published work on proof-of-stake also returned mixed results, with several offering no comment or suggesting they hadn’t yet looked into the technology and its specific claims.

Theory meets reality

But according to Emin Gün Sirer, a Cornell University professor and researcher in consensus protocols, this is typical of the field.

“Ouroboros has the advantage that it is peer reviewed and a well-credentialed research group stands behind the effort,” Gün Sirer told CoinDesk, “But it also suffers from a downside that plague many early proof-of-stake protocols, namely: the papers are long, dense and full of subtle proofs.”

As a result, Gün Sirer said, “No two researchers in this area seem to agree on which papers have valid proofs and which have redefined the properties so as to make proofs meaningless. The academic community vets papers for academic rigor, not real world application.”

That said, Hoskinson believes this interaction with academia is essential for cryptocurrencies to migrate onto the next phase. He warned that while many blockchains make wide claims for the scalability and security of their product, there’s not many laymen with the skillset to properly evaluate those claims.

As such, Hoskinson said he anticipates more research on Ouroboros and cardano to emerge going forward.

“We all talk about the Tendermints and the Decreds and the Caspers because these are industry accepted ones and they have good marketing,” Hoskinson said.

However, he continued:

“If you look under the current there’s an increasing professionalization of the cryptocurrency space… serious scientists who have great credentials and are utilizing the peer review process and bringing decades of knowledge with them.”

Rubix cube via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Charles Hoskinson’s Video Update Shows Promising Advances On The Cardano (ADA) Project

The Team behind Cardano (ADA) remains committed to building its network. The constant research and communication with the public have made this project one of the most followed and promising of the crypto sphere.

IOHK Logo

Charles Hoskinson, CEO of IOHK, and leader of the Cardano development team (ADA) never disappoints his followers and keeps them regularly updated with every new development the research team makes, no matter how small it is.

Yesterday, in a stream posted on the twitter account of the Cardano Foundation, Mr. Hoskinson revealed some of the new achievements made by the research team. The progress has been satisfactory, allowing the team to remain quite optimistic and enthusiastic about the development of this third generation blockchain.

An extensive article at the official Cardano (ADA) Forum, further elaborate these ideas. Below are some of the highlights:

Cardano 1.3

Cardano (ADA) Logo. ADA is the cryptocurrency running on the Cardano Blockchain

This version passed the first QA cycle. After a testing phase, the team thinks an early Daedalus and Cardano by August is quite possible.

Numerous improvements have been achieved in this version of Cardano regarding performance, memory utilization, and stability.

Cardano (ADA) Wallet News

The IOHK team is working with an unidentified Third Party Partner on a project related to a complimentary wallet to Daedalus. There is no further explanation. However, they mentioned that the announcements in mid-August would be exciting and very interesting.

IELE Test Net

The Testnet is expected to be launched later this month. This development would allow the design of Smart Contracts outside the EVM using both solidity and IELE’s own code.

Quality Assurance

The IOHK team is working hand in hand with Allied Testing and QuiviQ to achieve ever higher quality standards. So far the results have been positive

Cardano 1.4

The team plans to release of this new version on late October. It will include the Cardano Wallet Backend, as well as improvements aimed at mass implementation. This version will deliver positive and visible results for exchanges and users with a massive number of portfolios and transactions; however, for individual users, the feeling will remain relatively similar.

Ouroboros

The research and development work continues, however, the Ouroboros project is still at a very early stage. For the IOHK research team, this is one of the most important projects to date.

The development of Cardano (ADA) is in a very promising phase, the results have been satisfactory enough to predict a favorable 2019 for the events foreseen in the Roadmap of this blockchain.

Cardano is now much closer to becoming a reality than it was just months ago when it was merely a project with some advances.

There is still a little time left to see the project 100% completed; however, for many, the trip has been extremely enjoyable.

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