Blockchain Board of Derivatives (BBOD) Rates Cardano (ADA) As ‘Accumulate’ in Its Fundamental Analysis

Blockchain Board of Derivatives (BBOD) Rates Cardano (ADA) As ‘Accumulate’ in Its Fundamental Analysis
фото показано с : blokt.com

2019-4-5 15:34

Cardano (ADA) is a decentralized blockchain protocol that addresses the challenges gripping existing networks by utilizing scientific research and philosophy at its core, said the Blockchain Board of Derivatives (BBOD) on its official research blog that analyzes a number of blockchain projects published on April 2.

In this fundamental analysis, BBOD rated Cardano (ADA) as:

“ACCUMULATE: An opportunity to buy a medium risk cryptocurrency at a low price.”

It’s worth noting that the previous fundamental analysis by BBOD was on DigiByte (DGB), which also received the ‘Accumulate’ rating. Since this rating announcement on March 5, 2019, DigiByte has increased by more than 30% in price.

Cardano was founded in 2015 but is native cryptocurrency ADA was launched on Sept. 29, 2017. ADA can be bought on Binance and Upbit and margin traded on BBOD.

About Cardano

Unlike the majority of blockchain projects, Cardano was created by a global team of academics that include Charles Hoskinson, one of the founding members of Ethereum. Hoskinson is credited for understanding that blockchains need to be scalable, secure, and flexible if they need to have utilities in the real world.

A considerable amount of time was required to develop the protocol’s base layer because the research for the project started in 2015 but was officially launched in H2 2017.

The blockchain protocol intends to solve challenges such as scalability, sustainability, and interoperability by employing the democratic governance model and a double layer architecture.

Blockchain Challenges and Cardano Solutions

The majority of blockchains are riddled by one or more challenges that are preventing them from reaching their full potential. Cardano has its own ways of dealing with these challenges.

Scalability

Without any shade of doubt, scalability has long plagued the nascent blockchain industry. Bitcoin, the biggest and most popular blockchain can only handle 7 transactions per second (TPS) while Ethereum is capable of 15 TPS.

These figures are only a drop in the ocean when compared with payments giants such as Visa that can scale up to 24,000 TPS. Based on this comparison, it is difficult to believe that cryptocurrencies will ever be adopted as mainstream means of payment.

However, there are blockchain projects such as Ripple that can scale to 1,500 TPS, but this figure is achieved at the expense of security.

To remedy the situation, Bitcoin has implemented the Lightning Network while Ethereum has made use of Sharding.

Cardano was created after observing the shortcomings of other blockchains. The platform employs a layered structure that splits different functions into separate software stacks. This allows the platform to address the functionality of one layer without affecting the functions of the whole blockchain network.

Interoperability

There are several blockchain protocols in the world including dominant protocols such as Bitcoin. These networks are not able to interact with each other in a seamless way. At the same time, the blockchain networks should also interact with legacy systems.

The blockchain networks are already complex and still need to find a way of communicating with each other.

Cardano addresses this interoperability issue by using a sidechain protocol that allows the transfer of information and value between two separate chains.

Sustainability

Blockchain projects have raised millions through initial coin offerings (ICOs) during the 2017 bull run, but this financing model is not particularly sustainable in a bear market. This is even more so as regulators continue their crackdown on ICOs they deem to have violated securities laws.

The ICO model requires the founding team to allocate funds responsibly so that the project succeeds in the long term. How does a project continue to run when it has run out of funds?

It is possible for the projects to raise capital at later stages, but it is not ideal because if one single entity invests a large sum of money, it will have a greater say about the direction the project should take.

This could lead to centralization – the exact opposite of what blockchain technology aims to achieve.

Cardano’s workaround to this is the implementation of Proof-of-stake (PoS) consensus mechanism known as Ouroboros. This consensus mechanism was designed with sustainability in mind that allows the network to be financially self-sustaining for as long as it exists.

Catalysts

Cardano has not taken the quick route taken by many blockchain projects that sought to become the market leaders in the shortest possible time. Instead, the project has used a methodical approach that does not guarantee the quickest implementation.

On the good side, Cardano stands a great chance of avoiding bugs and other failures that have rocked blockchain protocols in the past.

Cardano did not hasten to enter the market in the 2017 bull market and has learned many lessons from the mistakes of its competitors.

Risk Factors

Cardano is a smart contract platform that can be used by developers to deploy decentralized apps (Dapps). If it is to succeed, it has to fend off competition from other existing similar platforms such as Ethereum, NEO, and EOS among others.

Cardano is compatible with Ethereum-based smart contracts. This allows developers to migrate their code to Cardano if they feel the protocol suits their needs.

Blockchain Board of Derivatives (BBOD) Rates Cardano (ADA) As ‘Accumulate’ in Its Fundamental Analysis was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.0064459
Капитализация $0 Rank 99999
Цена в час новости $ 0.5065 (-100%)

blockchain cardano bbod ada fundamental analysis board

blockchain cardano → Результатов: 126


Quest for the Perfect Blockchain: Cardano Foundation Executive Debunks its Existence

“Unlocking the Blockchain’s Potential: Cardano Foundation Executive Emphasizes Varied Use Cases and Rejects the Quest for a Universal Blockchain” Amidst ongoing debates on the ideal blockchain, an executive at the Cardano Foundation, Mel McCann, highlights the significance of considering diverse use cases for different blockchain platforms.

2023-6-27 19:30


Фото:

Cardano Foundation Expands its Academic Research With The Blockchain Center of the University of Zurich

A three-year collaboration will revolve around their mutual ambition of advancing high-level academic research on blockchain and distributed ledger technologies (DLT)  Zurich, Switzerland — 5th April 2022 — The Cardano Foundation, the non-profit organization and custodian of the Cardano blockchain, and one of the leading research universities in Europe, the Blockchain Center of the University […] The post Cardano Foundation Expands its Academic Research With The Blockchain Center of the University of Zurich appeared first on Invezz.

2022-4-6 16:10


Cardano Doubled The Reward For Hackers To Uncover Vulnerabilities In Its Blockchain

The public blockchain platform Cardano declares that it has doubled the payout for white hat hackers and bounty hunters that can identify vulnerabilities or bugs in its smart contracts blockchain. The firm has revealed that this six-week promotion, which will close on March 25, aims to keep “its businesses and customers safe.

2022-2-20 04:03


Cardano Foundation partners with Berlin-based blockchain venture to accelerate ‘real-world business use-cases’

The use of blockchain technology has spread over several industries across the world today, use accelerated by several organizations that operate on networks built on blockchain. In a recent development, the Cardano Foundation has collaborated with the Berlin-based blockchain venture, Konfidio, intending to stimulate the use of blockchain models in corporations, small and medium enterprises, […] The post Cardano Foundation partners with Berlin-based blockchain venture to accelerate ‘real-world business use-cases’ appeared first on AMBCrypto.

2019-8-15 20:30


Ethiopia Welcomes Atala Blockchain Technology Thanks To Cardano (ADA) And IOHK

Ethiopia Welcomes Blockchain Technology Thanks to Cardano According to an all-new article published by Forbes earlier today, Charles Hoskinson, the CEO of IOHK and founder of Cardano, announced that Ethiopia will soon witness the entry of blockchain technology within its borders thanks to the launch of Atala — an enterprise blockchain solution that has been […]

2019-5-3 20:55


Создатель криптовалюты Cardano выступил в лондонском офисе Google

Соучредителя Ethereum и создатель криптовалюты Cardano Чарльз Хоскинсонрассказал о перспективах ADA в лондонском офисе Google. Сообщение Создатель криптовалюты Cardano выступил в лондонском офисе Google появились сначала на Freedman.

2018-7-1 00:07


TRON открыт для предложения Cardano по улучшению блокчейн сети

25 июня Чарльз Хоскинсон, основатель и главный исполнительный директор IHOK, компанией, которая стоит за Cardano, написал твит в адрес Джастина Сана, основателю TRON, с необычной рекомендацией. Хоскинсон сказал, что TRON должен использовать mantis client вместо Ethereum Java.

2018-6-28 19:30


Tron [TRX]’s Justin Sun gets new business proposal from Cardano [ADA]’s CEO

A recent tweet by Charles Hoskinson, the Founder of Cardano [ADA] has left the Tron [TRX] community baffled. While the entire blockchain ecosystem has been constantly engaged with the Tron’s migration from Ethereum blockchain to its own blockchain, Charles suggests Mantis, a Scala Client supported by IOHK for Ethereum Classic [ETC]. Tweet by Charles Hoskinson […]

2018-6-28 16:21


Соучредитель Cardano ждет криптовалюты на Уолл-стрит

Криптовселенная давно подозревала, что текущая неопределенность рынка вызвана нормативным тупиком, который в настоящее время продолжается по всему миру. Единственные две страны, которые продемонстрировали четкое руководство относительно того, как будут регулироваться криптовалюты, – это Таиланд и Южная Корея.

2018-6-24 13:32


Соучредитель Cardano: компании с Уолл-Стрит могут внести «десятки триллионов долларов» на криптовалютный рынок

Соучредитель Cardano (ADA) считает, что выход компаний с Уолл-Стрит на рынок может принести «десятков триллионов долларов» в криптоиндустрию. Сообщение Соучредитель Cardano: компании с Уолл-Стрит могут внести «десятки триллионов долларов» на криптовалютный рынок появились сначала на Freedman.

2018-6-24 23:15