Satoshi Awards to Honor Ethical Innovation on the Blockchain’

Satoshi Awards to Honor ‘Ethical Innovation on the Blockchain’

                            

Know anyone in the cryptocurrency world who could use some extra recognition?

Nominations will open soon for The Satoshi Awards. The awards will premiere at a ceremony in Acapulco, Mexico in February 2020 with the theme “Honoring Ethical Innovation on the Blockchain”.

Prominent Libertarians Head Nomination Committee

The Satoshi Awards organizers also added three well-known names from the libertarian space to their nominating committee: economist Jeffrey Tucker, CoinText founder and “Gigolos” star Vin Armani, and Bitcoin.com CEO Roger Ver. The committee will choose finalists in 12 categories (yet to be determined). They will assess entrants determined to have had “the greatest impact on the spreading acceptance and ethical use of cryptocurrencies to the benefit of humankind”.

Those interested can suggest category ideas by visiting the Satoshi Awards website. Other names on the committee include “Psychological Anarchist” Sterlin Lujan, Crypto Adventures founder Elsa Ramon, Coinbase senior engineer Josh Ellithorpe, and EOS’s Adrianna Mendez. The public will choose the eventual winners, via a tokenized voting system to guarantee transparency and fairness.

Satoshi Awards Open to All Blockchain Projects

Given the selection committee and the event’s timing — which coincides with the annual “Anarchapulco” conference for anarchists and libertarians — expect the selections to lean in that direction. However nominations will be open to anyone in the cryptocurrency space, and according to organizers will not favor any particular blockchain protocol. Satoshi Awards founder Steve Ellis, who will host the ceremony, is promising a memorable event:

“The show we have planned will set the standard for awards ceremonies in this space. I’m really excited about the direction we’re taking and so are our sponsors,” he said. Nomination committee members and organizers plan to meet once a week to discuss updates and decide the overall format for the awards event. They’re also looking for official sponsors and partners, and have announced DASH Thailand and DASH Now as the first two, based on those organizations’ drive to promote cryptocurrency in Asia.

Article Produced By
Jon Southurst

https://bitsonline.com/satoshi-awards-ethical-innovation/

What Is the Blockchain Trilemma?

What Is the Blockchain Trilemma?

                                 

Decentralized cryptocurrency platforms such as the Bitcoin (BTC) and Ethereum (ETH)

blockchain networks have allowed users throughout the world to exchange data and monetary value in a peer-to-peer (P2P) way. Most crypto transactions are settled without the need for middlemen or intermediaries – which can result in reduced costs and greater efficiency. However, the blockchains of today face various challenges including technical design limitations such as their inability to scale effectively. The majority of existing blockchains may also be susceptible to various security vulnerabilities and certain distributed ledger technology (DLT)-based networks such as EOS and NEO have been criticized for being prone to centralization.

Technical Challenges: Scalability, Security, and Decentralization

Commonly referred to as the “blockchain trilemma”, the three main challenges faced by public, permissionless, DLT-enabled networks include scalability problems, security-related issues, and ensuring an adequate level of decentralization. While some developers, including the creators of IOTA, believe that the blockchain data structure itself has inherent limitations that prevent it from scaling, many software architects believe that it’s possible to build scalable blockchains. 

Can Proof of Work Blockchains Scale Effectively?

However, most of the newer or second and third-generation blockchains have not been developed using Bitcoin proof-of-work (PoW)-based consensus algorithm. In addition to requiring users to engage in the environmentally harmful process of mining, critics of the PoW consensus protocol argue that it significantly reduces the throughput capacity of a blockchain network. In fact, data from statoshi.info (a website that provides the latest statistics for the Bitcoin network) shows that the PoW-powered Bitcoin blockchain is only processing an average of 3.85 transactions per second (TPS). 

Proof of Stake Chains Might Be Scalable, But Are they Secure?

Since most enterprise-grade applications and modern business networks require a far greater throughput, a large number of newer cryptocurrency platforms have moved away from the PoW-based consensus mechanism. Instead, major blockchain-enabled platforms such as EOS, Cardano (ADA), and Tron (TRX) use some type of proof-of-stake (PoS)-based consensus algorithm to validate transactions on their networks. Although PoS-powered networks generally deliver much higher throughput than PoW chains, there can be certain security risks that might discourage users from adopting the proof of stake consensus model.

Block Producers Allegedly Collude, Engage in “Mutual Voting and Payoffs”

In August 2018, Twitter user Maple Leaf Capital, an EOS investor, alleged that certain EOS block producers including Huobi had been colluding by engaging in “mutual voting and payoffs.” In an excel spreadsheet shared via Twitter (at that time), Maple Leaf revealed that Huobi and many other BPs had consistently been engaging in mutual voting in order to “cement” their positions as EOS network transaction validators. Moreover, Maple Leaf claimed that Huobi had been openly voting for a select few BP candidates in exchange for payoffs in EOS tokens. Indeed, these types of incidents raise serious concerns regarding the effectiveness of delegated proof-of-stake (DPoS)-based blockchains in creating a trustless and open network.

Are Proof of Stake Chains Truly Decentralized?

In addition to network integrity and security-related issues with PoS chains, several analysts have argued that large PoS-powered networks such as Tron and EOS are not truly decentralized. According to many crypto industry participants, a cryptocurrency network may become increasingly centralized when there are only a few network participants that are responsible for validating transactions. For instance, there are only 21 and 27 block producers that validate transactions on the EOS and Tron (TRX) blockchains, respectively.

EOS Downgraded for “Serious Centralization Issues”

Although the creators of EOS and Tron claim their BPs are chosen based on a “democratic” voting process by their community members, critics argue that the control and the responsibility of managing a blockchain-based platform should be more evenly distributed among all network participants. In June 2019, Weiss Crypto Ratings, an organization that assigns ratings to different cryptocurrencies based on their performance and technical design, downgraded EOS due to “serious centralization issues.” One of the reasons why EOS may be considered centralized (to some extent) by some users is due to its controversial voting system – which seems to favor users who have a large stake in the network (holding a large amount of EOS tokens).

Are Proof of Work Networks Decentralized?

While the developers of PoS-based blockchains have been criticized for creating centralized platforms, the PoW-powered Bitcoin (BTC) network might also be prone to centralization. In February 2019, the Canaccord Genuity Group, a Canada-based financial services company, confirmed that GHash.IO, a BTC mining pool, had been controlling as much as 50% of the Bitcoin network’s hashrate.

Researchers at Canaccord had argued that the world’s most dominant cryptocurrency could have been “vulnerable” to a potential 51% attack. In these types of attacks, a single entity manages to acquire the majority of a network’s hashpower and then uses it to engage in double-spending or launch other types of attacks on a blockchain network. However, the research team at Canaccord claims that, as of February 2019, no single BTC mining pool controls greater than 20% of the cryptocurrency’s hashrate. Significantly, only five bitcoin mining pools still reportedly control between 10-20% of BTC’s hashrate. 

Is It Necessary to Solve the Blockchain Trilemma?

Bitcoin (BTC) maximalists have argued that the security and decentralization of a blockchain network are more important than on-chain scalability. Samson Mow, Chief Strategy Officer (CSO) at Blockstream, has said that BTC transactions need not be fast because the leading cryptocurrency’s main use case is to serve as a store-of-value (SoV). Since many BTC supporters, including former Google engineer Vijay Boyapti, believe that Bitcoin’s value proposition does not depend on its ability to mainly function as a mode of payment, they may not think it’s necessary to solve the “blockchain trilemma.” 

Notably, prominent Bitcoin developer Jimmy Song has also stated on several occasions that the BTC blockchain should not be thought of as a technology that requires constant innovation – such as enhancing the network’s scalability. Instead, off-chain, layer-two scalability solutions such as the Lightning Network (LN) are being developed – in order to expedite micropayments made with bitcoin.

Article Produced By
Omar Faridi

https://www.cryptocompare.com/coins/guides/what-is-the-blockchain-trilemma/

How blockchain impact the healthcare industry in upcoming years?

How blockchain impact the healthcare industry in upcoming years?

                                

Keychain and Chubu Electric Power conduct verification testing on peer-to-peer trading that uses blockchain technology

Keychain and Chubu Electric Power conduct verification testing on peer-to-peer trading that uses blockchain technology

                                

On July 1, Keychain, a limited liability company which develops and provides Keychain Data Provenance Infrastructure (DPI)

blockchain-based data security technology, announced that it had conducted verification testing on personal authentication that uses blockchain technology, issuance of digital assets, and peer-to-peer trading using distributed ledger technology at the Technical Development Department (Midori-ku, Nagoya City) of Chubu Electric Power < securities code: 9502>.

The verification testing was designed for three-way trading among a digital asset issuer, users (about 30 users this time), and merchants. According to the announcement, Keychain performed the implementation process between late November 2018 and mid-April 2019, while about 30 employees of the Technical Development Department, Chubu Electric Power carried out verification testing between late April and early May 2019.

The three targets of verification testing were: (1) Verifying the effectiveness of Keychain blockchain as a personal authentication infrastructure; (2) Issuing of digital assets by Chubu Electric Power and verifying double transfer and falsification risks; and, (3) Verifying application of an Android app that can use distributed ledger technology for payments at a cafeteria, peer-to-peer payments, and other transactions. The company reported that verification testing verified blockchain technology functions as a personal authentication infrastructure; digital assets can be issued using distributed ledger technology; and, peer-to-peer trading can be conducted without causing double transfers or falsification.

Article Produced By
Fisco

https://bitcoinwarrior.net/2019/07/keychain-and-chubu-electric-power-conduct-verification-testing-on-peer-to-peer-trading-that-uses-blockchain-technology/

How Can Blockchain And Crypto Improve Online Branding?

How Can Blockchain And Crypto Improve Online Branding?

                                

Default Profile Page. How Will It Benefit

Let’s start with a Members’ public profile page. It is a multi-dimensional Communication Hub, Social Networks Hub, Back Links Hub, Resume, Images Hub, Video Hub, Accolades display, Your Groups, Your Blog lists, Tell a Friend and Friends Rank. This is an excellent way to brand yourself and your product or service.

Markethive Tracking Feature

Every aspect of Markethive tracks your incoming tracking and reports. This tracking is built into your Profile page, personal blogs, and your capture pages, also WP plugins, giving a virtual full data on all your assets. From the daily activity report, Geographic map of connections, Device type, Bounce rate, referrers, Keywords, and Social Networks traffic.

Monetizing Markethive

Apart from the Markethive and generic Capture Pages available as a free member, the Profile Page is also your portal to invite others to join and with just 3 referrals the system’s Universal Income activates. That means you are paid to use the platform within Markethive by way of a micropayment faucet system of Markethive Coin (MHV) already on its first of many Coin Exchanges including their own. Starting out at just a penny on its first exchange back in March of 2019, the coin is now valued at $0.17. As it is a Consumer Coin the velocity is poised to increase as Markethive enters full launch.

The Infinity Airdrop Matching Bonus of 500 MHV Coins on new signups is not available to free members, however, anyone who joins as a free member will be associated with the individual that invited them as “pending associates”, which means if you upgrade to Entrepreneur within the first 30 days, you will receive the allocated coins 100% or 500 matching coin bonus (MHV) for each of the people you invited. If you remain a free member, after the first 30 days, it will reduce by 50%, which is 250 MHV. It will continue to reduce by 50% for every consecutive month thereafter until your matching bonus is 10% or 50 MHV for the people you invite to join Markethive which will then be credited to you upon upgrading.

Our collaborative community is encouraged to “Tip” the newcomers (instead of Like – the thumbs up) upon joining Markethive, as a token of appreciation and welcome message. You see, if you tip someone for any reason, Markethive pays you for tipping them, so you’re never out of pocket. As a free member Tipping is automatically activated at the time of registering.

Resume Builder

Your Markethive profile page will also have an optional resume link. The resume builder is a multi-part system that builds your resume in sequence delivering in both HTML as well as PDF. Access to both files via your profile page is optional, that being private invite, friends or public.

A News Feed Like No Other

Coupled with the Profile Hub, the News Feed being nearly identical to other well-known feeds is easy to use. But unlike the others, we have replaced Likes with Tips, tips that allow you the option to give your friends a small token or coin of appreciation. Your News Feed is 100% responsive to any device; therefore your device web browser is all that is needed. Saving your phone disk space and assuring you greater security and privacy. Notably, Search algorithms. You determine and orchestrate your algorithms. Not Markethive. You decide who and what you see on your newsfeed. There is no limit to the size of your friends’ database. Your newsfeed is completely searchable as well with both your news feed preferences and search criteria covering literally hundreds of variables and options

Get Paid To Learn The System

Markethive is truly dedicated to your education, success, and sovereignty. This is why we have made the Inbound Marketing Platform free (Compared to Marketo that costs as much as $25k per month). We pay you up to 500 coins just for joining (called an Airdrop and often years later these coins become very valuable), pay you micropayments just for using the system after you have qualified by signing up 3 new subscribers (similar to faucet systems that pay out micro amounts of Bitcoin), and we also pay you for taking our tutorials. No qualifications required, just a Markethive Wallet and each lesson you complete you receive an accolade on your profile and coin in your wallet. How cool is that?

Summary

Markethive has built a system to empower the Entrepreneur, with amazing valuable Inbound Marketing systems integrated within a social network with multiple commerce platforms. All of this on a Blockchain foundation, which above all the other benefits, allows Markethive to pay its members, (regardless if free or upgraded Entrepreneurs) to engage. We are focused on providing a Universal type of income for aspiring entrepreneurs. We believe sharing our resources with you as you build your business and seek to reach your goals, benefits all of us. We welcome all to our collaborative world of the Entrepreneur, the Markethive, built for you, by you and with you.

Article Produced By
Deb Markethive


Market Manager and Senior Writer at Markethive

Deb is the Market Manager for Markethive, a global Market Network, and Writer for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech.  She embraces "Change" with a passion and her purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.

https://cryptorials.io/how-can-blockchain-and-crypto-improve-online-branding/

Swiss Bank Unveils Plans for New Stable Coin

Swiss Bank Unveils Plans for New Stable Coin

                            

Swiss bank Dukascopy is developing its own ERC-20 stable currency.

The coin will be built on the Ethereum blockchain and will be tied to the euro, the U.S. dollar and the Swiss franc.

Swiss Banks Come First; Now Comes Swiss Crypto

Known as Dukascash, the currency will be tested and attached to additional forms of fiat granted its user base shows enough demand. According

to the asset’s whitepaper:

The initial Dukascash tokens tranches of roughly CHF 10 million or equivalent, and each base currency will be issued and initially kept by the Bank as ‘unreleased’ tokens. Additional Dukascash tokens will be issued in tranches, depending upon client demand. Small portions (up to CHF 100,000) of unreleased Dukascash tokens will then be released in favor of the bank to enable it to sell Dukascash tokens to clients.

Stable currencies have been all the rage for more than a year. Initially, the coins were built to give investors a chance to put their money into crypto without having to worry about the volatility or price swings that typically strike mainstream forms of digital coins such as Ethereum, bitcoin and EOS. While bitcoin has been doing quite well as of late, it is still vulnerable to sudden (and unexplainable) price drops, such as what occurred during yesterday’s early morning hours.

In that time alone, bitcoin lost more than $3,000 from its previous price, falling from around $13,600 to just over $10,400. At press time, however, it has since jumped back up to about $11,800. The idea behind stable currencies is that forms of crypto will be tied to less volatile, more stable assets such as USD or gold, giving the crypto in question less of an opportunity to experience price falls and providing investors with more peace of mind in the process. This is both a strength and a weakness. On one hand, traders have less chances to lose their money, but granted cryptocurrencies ever strike bigger numbers, stable currencies, which are designed more to “remain as they are,” probably won’t join in, meaning investors aren’t going to earn much either.

Is Tether the Culprit Behind Bitcoin’s Price Spikes?

In addition, there are still certain aspects of stable coins that are either confusing or difficult to understand. Recently, a report emerged suggesting that tether was still responsible for bitcoin’s meteoric price rise, which has been ongoing since early April. Tether’s infamy began roughly one year ago when Texas finance professor John Griffin submitted a document that said tether had potentially manipulated the bitcoin price in 2017 during its first serious rally. The sentiment now, according to some crypto skeptics, is that this is still occurring, yet other reports have emerged stating that bitcoin’s price rises have more to do with general market trends than they do with manipulation, and that this rally is somehow “sturdier.”

Article Produced By
Nick Marinoff

https://www.livebitcoinnews.com/swiss-bank-unveils-plans-for-new-stable-coin/

IBM Blockchain team reportedly spared worst of firm’s layoffs as it redoubles DLT efforts

IBM Blockchain team reportedly spared worst of firm’s layoffs as it redoubles DLT efforts

                             

Quick Take

  • Despite IBM dismissing nearly 2,000 employees earlier this month, sources say the firm’s blockchain division escaped any dramatic cuts
  • Those who were affected were reportedly confined to the consulting side of the blockchain business
  • Separately, the blockchain project last month saw the departure of one of its leads, Jesse Lund

For all the criticism IBM’s Blockchain project has faced over the years, its ability to grow – and maintain – its team may be one area where it excels. Although IBM laid off 1,700 employees earlier this month, only a “very tiny, tiny percentage” of them came from the blockchain operation, sources close to the team told The Block. “The product team had no layoffs, there was nothing out of development. It was very limited on the blockchain side,” one source who has direct contact with the Blockchain division said. 

While IBM declined to give specific details about the degree to which the layoffs had impacted its blockchain operation, Jerry Cuomo, VP of IBM Blockchain Technology, told The Block: “Blockchain skills are the priority…And we’re full-steam ahead of blockchain.” He added: “We plan to grow for a very long time.” Indeed, a quick search of online job-postings reveals blockchain jobs a-plenty at IBM across the world – from Australia to India. This corroborates with the firm saying it wanted to focus its hiring efforts in new businesses like “analytics, security and blockchain,” and that the layoffs elsewhere were part of a “realignment plan.“

That does not mean the blockchain division escaped any culling, however. Another source reported a handful of layoffs on the services (or consulting) side of the blockchain business, but confirmed the engineering side had been kept intact. The consulting arm is one of the blockchain team’s three pillars and reportedly its main “cash-cow.” It is, however, unrelated to the raw technological side of the business, which encompasses the IBM Blockchain Platform and the IBM Solutions products, which cover the Food Trust Network and the Stellar partnership.  

IBM’s $34 billion acquisition of software developer Red Hat is also set to close. Sources suggested this may lead to more changes in the blockchain team in the near future, as Red Hat’s 13,000-strong team joins IBM’s Hybrid Cloud unit. Red Hat developers are set to work alongside and to utilise IBM’s blockchain team.

Article Produced By
Isabel Woodford

Isabel is The Block’s London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel’s brother. She does not report on any issues related to Seed or advise other authors in any regard.

https://www.theblockcrypto.com/2019/06/20/ibm-blockchain-team-reportedly-spared-worst-of-firms-layoffs-as-it-redoubles-dlt-efforts/

Zilliqa Collaborates With Xfers to Bring the Benefits of Blockchain to Southeast Asia

Zilliqa Collaborates With Xfers to Bring the Benefits of Blockchain to Southeast Asia

                                 

One cryptocurrency project that has engaged in new initiatives

to improve customer service and boost adoption is Zilliqa. According to recent reports making rounds in the crypto space, the public Blockchain platform, Zilliqa has announced a new partnership with Xfers. The goal of this accord is to bring new innovations through Xfers’ enterprise solutions, such as support for payments, built-in digital wallet, and regulatory compliance to name a few. Zilliqa has revealed that it is partnering with MAS (Monetary Authority of Singapore)-approved WA SVF (Widely Accepted Stored Value Facility), Xfers, to develop more Blockchain uses when it comes to payment solutions powered for more than 500,000 users in the Southeastern part of Asia.

About Xfers

Xfers was founded in 2014. The company has an extensive portfolio of big clients in the fintech industry including Tunaikita and Julo two of the largest Southeast Asian peer-to-peer lending platforms. Another of Xfers client’s is Payfazz. Payfazz is an Indonesian based financial platform.

This service is extremely important for people who are unbanked. Take these stats as an example, the entire South East Asia as a whole is home to a mobile connectivity rate of about 133%. This is because some people own multiple SIM cards or mobile phones. However, only about 27% of this population have bank accounts. Cambodia is another region with extreme mobile connectivity rate of about 173%. However, only 13% of the full population of users have bank accounts. However, with the help been offered by Xfers’ payment infrastructure built on the smart contracts layer of Zilliqa, Xfers’ pool of enterprise solutions can come new innovations that offer support for payments, disbursements, regulatory compliance, and add a built-in digital wallet, to name a few.

The Goal is to Create a Digital Financial System in Southeast Asia

Speaking on the new initiative Tianwei Liu, who serves as the CEO and Co-founder of Xfers, said: “The vision of Xfers has been to create a trusted, digital financial system in Southeast Asia. Home to 600 million people, the Southeast Asian market is still predominantly unbanked. At least 70% of citizens have no access to the basic financial system.”

By partnering with Zilliqa, the goal is to provide cutting-edge solutions that will grant equal opportunities to citizens as well as cost-saving solutions for businesses to run digitally who are looking to come to the region. As we move into the next growth phase for financial innovation, it is only the most robust tech solutions that will allow us to embrace a digital economy fully,” he added. Zilliqa is known as an enterprise-grade open Blockchain platform designed to use sharding as its on-chain solution to help sustain decentralization and allow greater scalability. To date, Zilliqa’s Blockchain can process as many as 2,828 transactions per second.

Singapore Has a Large Base of Xfers Users

Xfers has great value for Singaporeans. Nearly all fiat to crypto bridges in the country use Xfers. Xfers is the preferred payment model on Singapore’s Coinhako exchange. An Xfers account is the sole payment method on the Singapore arm of Binance exchange. Xfers used to be Coinbase’s main payment model in Singapore until its volume became untenable. As of press time, the price of ZIL was trading at $0,024.

Article Produced By
Brian Lubin

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

https://smartereum.com/58333/zilliqa-day-2019-zilliqa-collaborates-with-xfers-to-bring-the-benefits-of-blockchain-to-southeast-asia-cryptocurrency-news-cryptocurrency-market-update-zil-usd-live-pric/

 

Gitcoin and ConsenSys Labs partner for Beyond Blockchain hackathon

Gitcoin and ConsenSys Labs partner for Beyond Blockchain hackathon

                           

Gitcoin and ConsenSys Labs will host a three-week virtual hackathon called Beyond Blockchain

from June 24–July 10. The event gives participants the chance to win prizes in Ethereum and ERC-20 tokens posted as bounties on Gitcoin. According to the announcement, the event focuses on bringing blockchain tools and technologies to a wider audience.

Funding open-source projects

$10,000 in prizes are up for grabs in categories like media, healthcare, and decentralized finance and more sponsorships and bounties will be announced as the event approaches. Prizes will be offered as bounties on Gitcoin’s platform using a featured hackathon prize explorer. The virtual hackathon continues efforts by Gitcoin and ConsenSys to develop funding for open-source projects. Interested developers, designers, and entrepreneurs can sign up here. Organizations interested in pitching sponsorships related to the event’s theme of increasing the adoption of blockchain tools and technologies can contact alex.voto@consensys.net. Gitcoin has promised to deliver more announcements regarding prizes and bounties in the weeks approaching the hackathon.

Previous events

The announcement comes just over a month after the close of the Ethereal Virtual Hackathon, and Ethereal Summit New York. Held in partnership with Microsoft, the hackathon saw over 600 participants competing for $67,000 in prizes offered by 14 different companies. Gitcoin offers a crowdfunding platform connecting projects with software developers. The project boasts 20,000 developers who have completed over 4,000 projects for a total of more than $1.5 million using the platform. Gitcoin’s hackathons give participants the opportunity to meet and work with important figures in the open source ecosystem. ConsenSys Labs is the venture arm of Consensys, supporting projects in the Ethereum ecosystem through seed and pre-seed investments and their accelerator.

Article Produced By
Seth Goldfarb

Seth is a Seattle-based writer who helps businesses using blockchain tell the stories of their success. His work has been published in CryptoSlate, Hacker Noon, and Coin Review and clients have included Evernym and Aave. Seth also maintains a calendar of Seattle-area blockchain events at www.pnwblockchain.com.

https://cryptoslate.com/gitcoin-consensys-labs-partner-beyond-blockchain-hackathon/

Cardano Updates Its Roadmap What’s In For Investors?

Cardano Updates Its Roadmap – What’s In For Investors?

                             

Cardano (ADA), the proof-of-stake (PoS) blockchain network built on peer-reviewed academic research,

is being developed into a decentralized application (dapp) development platform with a multi-asset ledger and verifiable smart contracts. Cardano’s blockchain aims to be highly scalable, interoperable, and sustainable for real-world applications on an enterprise level to build the economy of the future. While that all sounds amazing, the project still has a lot of work to accomplish, and IOHK (Input Output Hong Kong), the parent company of Cardano, has released an updated roadmap outlaying progress towards its 2020 vision:

Cardano’s 5 Eras

Cardano’s roadmap can be broken down to 5 eras, namely Byron (Foundation), Shelley (Decentralization), Goguen (Smart Contracts), Basho (Scaling), and Voltaire (Governance). Each of the eras is centered around a primary goal with various releases and developments throughout the era to achieve this goal. The eras are completed sequentially, with research and development of future eras overlapped with one another (some of the work is being done in parallel). The first era (Byron) was officially completed this year, and now the primary focus is on completing the Shelley era. Currently, Cardano is in the Gougen era but is still very much focused on Shelley, which is supposed to be completed by the end of the year. Shelley’s mainnet is now live, and as its development continues, research and development for Goguen, Basho, and Voltaire will begin in parallel. Cardano’s roadmap is only updated until the end of 2020. By this time, Cardano’s development is expected to be vastly completed, and the focus will be on the blockchain’s governance (the Voltaire era).

Final Thoughts

As seen in the image above, the era we are currently in (Goguen) is right in the middle. It is intended to be one of the most formative eras of Cardano’s roadmap, as it’s tipped to be the one that brings mass adoption. However, IOHK is still working on finalizing Shelley, and then Goguen is set to be completed in the first half of 2020. By then, it’s expected that Cardano will have achieved a sufficient level of adoption with real-world use cases. A competing cryptocurrency project that has already achieved real-world adoption is Ethereum (ETH), which is being adopted by enterprise businesses such as Deloitte, Microsoft, Amazon, Ernst & Young, and others. Therefore, Cardano has some serious competition, and it will be interesting to see how these two projects compete once their roadmaps and blockchain technology are completed.

Article Produced By
Jeremy Wall

https://www.investinblockchain.com/cardano-updates-its-roadmap-whats-in-for-investors/