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Cardano [ADA] continues its developmental roll; prices reflect the same

Akash Anand



Cardano [ADA] continues its developmental roll; prices reflect the same
Source: Unsplash

Cardano [ADA] has had a relatively great week compared to other cryptocurrencies, becoming the third biggest gainer among the top ten cryptocurrencies. At a time when popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP have slowed down in terms of developments, Cardano has been creating news with its latest updates.

Recently, Input-Output, the technology firm spearheaded by Charles Hoskinson, the Founder of Cardano, revealed that an audit checkup was conducted for its new Icarus project. IOHK had stated that the reason they went for a third party audit over an internal audit was to get an in-depth look at the bugs that may exist in the system prior to the launch. The company further stated:

“This ensures our customers and clients have the most secure wallet we can provide.”

Charles Hoskinson has been a vocal personality in the cryptosphere. He had made news a few days back when he spoke about EOS raising more capital than Cardano in terms of funding. According to him, the amount of capital one raises has nothing to do with the success of the cryptocurrency. He had stated:

“It’s kind of funny that the number two cryptocurrency raised 18 million to get where it’s at and the number one cryptocurrency raised nothing. So if you think about that, there is strong evidence in the space – the amount of money you raise doesn’t really have a lot to do with your ability to succeed.”

Hoskinson even spoke about his company’s relationship with Hyperledger and complimented their products, Sawtooth and Fabric. He went on to praise the Head of the Fabric project, saying:

“They’re led by Christian Cash and he’s also the head of the IACR and he’s a good guy to have dinner with and he’s one of the world’s top experts in distributed systems. In fact, if you ever take a course on the topic you’re probably either gonna read his book or Nancy Lynch’s book. Nancy’s at MIT.”

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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.


Rabobank announces plans to drop its crypto-project

Sarvesh Kumar



Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,

“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.

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