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Cardano [ADA] Founder – ‘Fixing the sins of the path with Cardano’

Sthuthie Murthy



Cardano [ADA] Founder - 'Fixing the sins of the path with Cardano'
Source: Pixnio

Charles Hoskinson, Founder of Cardano [ADA] was at the crypto ICO Summit recently where he was interviewed by Vincent Everts of Blockchain Innovation, Amsterdam. The summit was held in Switzerland and Vincent interviewed Charles from Input-Output about Cardano and its ideologies.

He was asked about the lessons he has learned and what he is trying to solve with Cardano’s technology.

Goals of Cardano [ADA]

  1. Fixing the sins of the path: Design, development, and deployment of cryptocurrency – to ensure the scientific claims made by them are actually right.
  2. Engineering aspects: Proper architecture, well-defined protocols, and specifications of a wallet, of which, none of them have met their standards in the past 9 years.
  3. To be the first 3rd generation cryptocurrency: Scales as more users join

While defining what 3rd generation means, Charles said:

“…the key factors are scalability, interoperability, and sustainability. Ripple operation is a great example of interoperability with 130 bank partners and the inter ledger projects”

People behind Cardano and their History

Three major entities: Cardano Foundation, the Mergo, and IOHK

Cardano has over a hundred thousand people working in their community according to what Charles said. Jeremy Wood, the Co-Founder, and Charles both worked for Ethereum previously. They currently build blockchains, infrastructures for a living and focus on how to design and implement those for a better service.

They are still in a heavy research phase and are on the verge of moving to practicality phase, said Charles, while talking about the progress and accomplishments of the 3 goals.

Cardano is the first project to introduce peer network in its protocol and pipeline. When questioned about smart contracts, Charles said they have a multi-model idea for that. He said, Ethereum has done some good work and that they will be stealing it from them. They will get the soft copy and roll out with that for now because it is a dominant market standard.

IELE  is being designed by 19 people, a project where mainstream developers will be brought into the crypto world because smart contracts need varied language skills and frameworks to be learned.

K Frame changes the whole game though, and it is the 1st time that any cryptocurrency has adopted this. It is a symmatic’s compilation framework where you “write once and run multiple times”.

This summer, two blockchains will run parallel with smart contracts K IELE and K Ethereum. Scorex is being developed for the past 3 years to make ADA private. The first version of this will be seen sometime this year said the Founder.

He expressed his view on downtrends and up-trends by quoting:

“Technically, the company lost 2 billion dollars in the downtrend and who cares. It is not actually real until you exercise.”

Cardano [ADA] is currently trading at $0.15 after a 6.44% gain standing strong at 8th position in the market. The total market cap is worth $4.01 billion and is trading well on Upbit, Binance and Bittrex to mention a few.

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Sthuthie Murthy is a full-time reporter at AMBCrypto. She has been researching and writing about the Blockchain technology for a year now. Her passion for blockchain has led her to be a part of AMBCrypto's news reporting team. She does not hold value in any cryptocurrencies currently.


Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out of ‘saucer bottom’ pattern




Binance Coin surges by 9% in 24-hours after DEX announcement; breaks out out of 'saucer bottom' pattern
Source: Unsplash

Binance Coin [BNB] is nothing short of becoming the best performing crypto asset of 2019, as it creates higher highs every day. In a recent surge, BNB went up by approximately 12% in 24-hours breaking out of the ‘saucer bottom’ pattern.

BNB has been on a bull run since December 2018, it has surged by approximately 470% since that point. In the last 24-hours, the price was up by approximately 12% from wick-to-wick.

Source: TradingView

Moreover, the rise in the price over the day can be attributed to the announcement by Binance DEX, that was launched recently. The tweet read:

The new update will convert the BNB, which is an ERC20token, into BEP2, it will be called the “mainnet swap”. Furthermore, users have to convert their ERC20 tokens on Binance, the details of which will be released in the near future.

In addition, Mithril, a cryptocurrency project has announced that it will be the first project to migrate to the Binance Chain. It tweeted:

“$MITH token holders on the new @Binance_DEX will be the first to experience increased speed, security, and user friendliness while maintaining full control over their funds.”

A Twitter user, @carlitosblvd123, commented:

“So , all BNB we have now like erc20 in binance exchange and on trust wallet will be converted to bep2 automatically or we have to do anything to happen?”

@jigneshon, another Twitter user commented:

“Crypto Revolution will happen on 23rd April when Binance Chain Genesis block will be created. 🔥”

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