Who succeeds in encapsulation?
Bitcoin is going around in solitary circles, consolidating just above the USD 9000 mark. Investors are increasingly focusing on the traditional markets, where the panic ahead of a second wave of coronavirus is clearly felt. As a result, the 24-hour trading volume of the No.1 crypto currency falls to just under USD 15 billion. In the background, however, some old coins may be able to free themselves from the clutches of the first mover. We take a look at the most ambitious encapsulations.
Cardano uses upwind
The third generation Blockchain takes the momentum from the 2nd quarter into the summer and continues to cause a sensation in the crypto space. While many old coins had to record losses in June, Cardano ignited the turbo with a bull run of 16%. Charles Hoskinson currently presents himself at the “Cardano Virtual Summit 2020” as a brilliant visionary with clear goals. Yesterday, Thursday, the first day of the “Cardano Virtual Summit 2020”, the Cardano team directly announces 4 big announcements.
No empty promises
The so-called “Announcement of the Announcement” is a common expression in crypto space. Again and again in the past years, one could observe projects that drew attention primarily with empty promises. The announcement of a big announcement is supposed to create a hype that only a few crypto-currencies can do justice to. This is not the case with Cardano. The implementation of a new identity system called Atala PRISM should further promote decentralization. With Atala PRISM, millions of people without a bank account can gain access to a new financial ecosystem. The focus is on economic identity.
Hoskinson with big goals
In a speech, CEO Charles Hoskinson spoke about the impressive progress of block chain technology. Within a decade, the sector has mastered the evolution from Bitcoin as a means of payment, through smart contracts with Ethereum, to the third generation block chain (Cardano). In addition to the Shelley update and PRISM, other updates such as “Catalyst” and “Voltaire” are in the starting blocks. Cardano’s course registers the new announcements by jumping to position 8 in the crypto charts.
Chainlink is currently approaching its own all-time high (USD 4.95) with big steps. In addition, a leap into the coveted Top 10 is imminent, mainly due to the unique technology behind the project. The decentralized Oracle service Chainlink, pursues the goal of making smart contracts on the block chain compatible with the real world. The project uses so-called Oracle Contracts. Through “Oracles” it is possible to feed external data records into the block chain. The currency for converting these data transactions is called LINK. Chainlink would like to support, besides Ethereum, other smart contract service providers and relies on cross-chain transactions.