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Cardano’s Charles Hoskinson takes jibe at Tron’s Justin Sun, EOS and BSV

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Cardano's [ADA]Charles Hoskinson takes jibe at Tron's Justin Sun, EOS and BSV
Source: Pixabay

Woes for EOS seem far from cooling down. The latest announcement from Block.one, EOS’s parent company failed to turn the tide up for the digital asset. Charles Hoskinson, the CEO of Cardano and Ethereum Classic blockchain, said that the much-anticipated EOS announcement was a “flop”.

Hoskinson’s reaction was in response to a question regarding Cardano’s recently released roadmap design in the latest edition of “The Cardano Effect”. Input Out HK [IOHK] recently released an updated roadmap emphasizing on the crux – to make the Cardano blockchain 100 times more decentralized than that of Bitcoin. When asked if the digital asset’s roadmap was designed to be investor specific, Hoskinson said,

“We don’t think a lot about investors at IOHK. The whole investment thesis in the cryptocurrency industry it’s a bit bizarre in just strange you know it’s things go out for no reason things collapse for no reason”

He also criticized Justin Sun, the founder of Tron [TRX], who spent $4.6 million for lunch with Bitcoin skeptic Warren Buffet and said that Sun is probably “out of ideas”.

“It’s just crazy to see what they have to do to keep that hype machine”

Taking a sly dig at Craig Wright’s hard fork coin, Hoskinson said that BSV’s surge last month was due to market manipulation while really good projects sometimes “linger far far away” and fail to garner traction. He is of the opinion that “its a lost cause if people get trapped in the behavior of trying to make investors happy”





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Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.

Altcoins

Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report

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Ampleforth could help create next gen synthetic commodities for diversification of portfolios claims new Blockfyre report
Source: Unsplash

Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.

The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.

Synthetic Commodity

Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.

In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.

The report stated,

“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”

Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,

“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”

The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.





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