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ADA Cardano VASIL Hardfork DetailsHI Friends. Today i decide to explain more about coming upgrade in cardano blockchain. without wasting time lets go friends. Vasil Hardfork: Another Network Upgrade On The Cardano Blockchain A hardfork is a software upgrade to a blockchain’s network, making previously invalid transactions and blocks valid. While many blockchains rarely do the hardfork, Cardano (ADA) is a sort of blockchain that experiences periodic improvements every year. After their first hardfork, Alonzo, now Cardano is on track to implement another fork called the ‘Vasil hardfork’. Vasil hardfork is the second massive upgrade to the Cardano network that focuses on overall network stability and connectivity. With Vasil, pipelining testing, new CIP mechanisms (CIP-31, CIP-32, CIP-33, CIP-40), UTXO on-disk storage integration, and Hydra will be introduced as added functions. once Vasil hardfork is completed, Cardano will receive a higher throughput and an enhanced range of decentralized finance (DeFi), decentralized exchange (DEX), and smart contracts. These enhancements are derived from the scaling improvements of the network as stated earlier, including pipelining tests, improved logging, the release of four CIPs: CIP-31 (Reference Input), CIP-32 (Inline Datum), CIP-33 (Reference Script), and CIP-40 (Collateral Output), UTXO HD and Hydra integration. CIP’s Explanation: CIP-33 is expected to significantly reduce transaction costs, by making transactions small and “lightweight” CIP-31 will facilitate Decentralized Apps (DApps) to access transactional output without having to recreate it as before. CIP-32 introduces an on-chain data storage for the community and developers, thereby making Cardano a “truly decentralized architecture”. CIP-40 executing a Plutus Smart contract requires a collateral amount, which means users must include a fee to cover the cost of executing the script.When a transaction fails validation, said collateral is completely lost. CIP-40 changes this by including just enough collateral in a transaction for it to go through and setting a limit to failed transactions, so it can only lose a minimum amount of collateral. Despite several crashes and bearish market cycles at the moment, ADA still performs well and ranks in the top 10th percentile on the crypto market, based on its market capitalization this upgrade scheduled to happen in 29 june 2022 but its delayed for next month july. thank you for your reading and your support. hope to like this post.please share me your opinion in comments.
by TraderAmin-KZ
2
$ALGO Symmetrical TriangleRSI is showing strength maintaining above the 46 level. The 50-day MA passed up through the 200-day MA signifying a Golden Cross. MACD doesn't look the greatest but does appear to be moving in the right direction. Scenario A: break-out of the triangle, zoom towards previous ATH, contend with it momentarily and then make new ATH Scenario B: breakdown out of the triangle, fall towards 200-day MA or previous support. Which scenario do you think is more likely? Imagine when ALGO gets the market cap of ADA or SOL... Algorand would be at about $11 if that were the case based on current market caps at the time of this post. Weekly Chart:
COINBASE:ALGOUSDLong
by EBITDAtiger
Currently, fundamentals are more important than TAPivot point: 11178. Above Pivot point, the scenario is bullish, below it is bearish. Pivot point and its support and resistance levels are strong barriers that cannot be easily overcome by the market price. Since January 17, 2018, the market price of Bitcoin is tending around Pivot Point and its swings are getting smaller and smaller. BTCUSD is heading straight to the apex of the green triangle. There is a good chance that this sideways movement will continue for a while. Currently, there is an equilibrium between Bulls and Bears. The bears still see BTCUSD lower, while the Bulls are waiting for the ascending prices in February, similar to the years before. However, is that price increase in February a general law of nature? The fundamentals speak loud and clear for a further drop of BTCUSD. Payment transaction times of up to 8 hours and high transaction fees made it obvious that Bitcoin can no longer serve as a payment coin. Micro payments are no longer attractive and transaction times of up to 8 hours make it impossible to use Bitcoin on the checkout of a supermarket. People start recognizing that Bitcoin cannot hold its promises. Therefore, users started to turn their back on Bitcoin and are watching out for alternative coins with a better performance. Yes, performance is everything when it comes to cryptocurrencies. This time, I do not expect that Bitcoin will recover from the low price. On February 1, 2018, there is the launch of Futurocoin. FTO is a specialized payment coin with cheap transaction fees. FTO can execute a payment transaction within 4 seconds. Additionally, a community of more than half a million people are at the ready for acquiring acceptance places like retail shops, retail chains, apparel, electronic shops, travel and holiday companies, car dealers, etc. We can expect that FTO will develop fast and I see it as a top five coin within two years.
COINBASE:BTCUSD
by luckyhelper
4
Key reasons for another drop in the price of the Bitcoin.No transaction fees, enabling micro-payments and micro-donations is what made Bitcoin so popular. Bitcoin is an electronic crypto-currency not tied to any financial institution, which enables you to make international transactions outside of the banking system. Some big chain of stores are thinking about accepting Bitcoins on the checkout. These are the main reasons, why the price of the Bitcoin skyrocket. As the maximum number of coins is specified, the price of the Bitcoin has to rise the more people make use of it. However, during the last months, Bitcoin transactions became very slow and all of a sudden, high transaction fees have to be paid. It is obvious that the Bitcoin network cannot handle anymore the high workload. It is even questionable whether Bitcoin can hold as the number one coin if it fails just in these important characteristics. Additionally, 78% of the computer power of the Bitcoin network is located in China. China wants to ban Bitcoin mining and verifying because of the high consumption of electric energy. Depending on the speed of realizing that plan of banning mining, this can temporarily lead to an additional bottleneck in the Bitcoin network. It is foreseeable that more and more people will elude Bitcoin and turn towards other coins. Once the number of people using Bitcoin will erode, the price of the Bitcoin will collapse. There are enough alternative coins available with transaction speed increasing the more people make use of them. Just to name such coins Ripple, Dash, Tech coin (coming soon) and Futurocoin (coming soon). Cryptocurrencies have a bright future. However, it is very unclear if Bitcoin is one of them. There are enough key reasons for another drop in the price of the Bitcoin. Up or down? The decision will be made in these days. Technical analysis. The big picture are two triangles. The major, dark triangle lets us expect an outbreak to the upside at point 5. However, there is also a minor, light-grey triangle and the price of the Bitcoin did just outbreak on its downside at point v. It will test the downside of the major triangle again. Any price below the red line at 12787 will turn the overall scenario into bearish. Should the bearish scenario be confirmed, the price might drop as far as 5568.
COINBASE:BTCUSD
by luckyhelper
Why is there no direction in the price of the Bitcoin?Acutally, so many outside influences make it difficult to predict which way the price of Bitcoin will go. Bulls and bears keep the price well in a balance and it remains inside a narrow bandwidth with very low volumes. Let us try to see the whole picture. I list here the main fundamentals and present a chart, which shows the partly interfering trends and signals. What are the fundamentals? • News from South Korea about banning cryptocurrency trading in the future. • News from China about banning cryptocurrency mining and verification. • Right now, China hosts 80% of the computer capacity for the Bitcoin blockchain. Will operation of the Bitcoin come to a temporarily halt? Will investors lose Bitcoins? What about the mining contracts? How long will it take to replace this huge computer capacity? • News from USA that they will sell seized Bitcoins worth over 300 million US-Dollars. • News from Bulgaria that they will sell seized Bitcoins worth 3.5 billion US-Dollars. • Because of the newly implemented high transaction fees, will Bitcoin survive as a payment coin? What can we read in the chart? • There is a red dashed line at 14129. Below that line, the scenario is bearish and above that line, the scenario is bullish. • There is a triangle, drawn in dark-blue color. Bitcoin is actually at point 4. From there, it should continue in direction of point 5 and there, it should outbreak on the upper side of the triangle. • However, we see that the price moves in direction of point 4 again instead of point 5. Will there be a downside breakout today? In the last few weeks, we experienced already enough downside breakouts. • Since January 7, 2018, the value of the Bitcoin moves down inside a channel with blue dotted borderlines. • On the same time, it is also within a sideward channel build by the red dashed line and the yellow dashed line. It is not very likely that we will see a decisive move in either direction. I expect over the weekend low volumes and the price oscillating inside the square that is built by the blue downward channel and the sideward channel between the red and the yellow line. However, we have to be prepared for a downward outbreak, which would result in a free fall down to the level of 5568. This could happen if some traders would start selling in panic in a market with low volumes. In this case, use the opportunity for buying cheap Bitcoins. What is the best strategy in such a quiet and boring market? Two subjects are becoming important in such a quiet market: • Market Corrections • Portfolio Erosion Goldbug1 has written a great article about both subjects. I recommend reading it. Personally, I learned important things about how to trade such a difficult market. It is really worth reading about his strategies. Please click on the chart below for reading it. I wish you good luck, happy trading and a great weekend. Luckyhelper
COINBASE:BTCUSD
by luckyhelper