Crypto Guides, Knowledge & Insights

Cardano Now Has Smart Contracts Capabilities: Alonzo Mainnet Upgrade Went Live

The wait is finally over. After years of researching and producing a multitude of peer-reviewed papers on the networks structure, potential, ideas, goals, and whatnot, Cardano now has smart contracts capabilities to further bolster its ecosystem.　　Alonzo Mainnet Now Live　　As of now, Cardano saw an important hard fork go through, and Alonzo is now live on the mainnet. What this means is that the network supports smart contracts, enabling various teams and projects to start building and deploying their protocols directly on Cardano.　　One of the important things to keep in mind when talking about smart contracts on Cardano is Plutus. Its the framework that enables this functionality. Plutus core is used to define the parameters of the extended UTXO model. According to the team, it offers unique advantages over different accounting models.　　Moreover, the Plutus Application Framework (PAF) provides access to applications and services that run on the network, and it should also include a full web browser interoperability.　　Not Without Hiccups　　The rollout wasn‘t without its hiccups. It was recently brought up that there’s a fundamental concurrency issue within the fundamental design of Cardanos smart contract capabilities.　　This basically means that multiple users cant interact with a protocol at the same time. However, Charles

2021-09-13Deep Dive

Argo Blockchain secures $25M Bitcoin-backed loan from Galaxy Digital

Argo Blockchain has secured another loan agreement from Galaxy Digital LP with the mining firms Bitcoin (BTC) as collateral.　　According to an announcement by the London Stock Exchange on Friday, the new Bitcoin-backed loan agreement is to the tune of 18.05 million pounds (about $25 million).　　As previously reported by Cointelegraph, Argo entered into a prior BTC-backed loan agreement with Galaxy Digital for $20 million back in June.　　The United Kingdom-based Bitcoin miner will reportedly roll up both loans into one for a combined sum of $45 million.　　As part of the agreement, Argo will utilize the fresh capital influx to support its expansion efforts in Texas.　　In March, the company purchased a 320-acre land plot in Texas that will reportedly host a 200-megawatt Bitcoin mining facility.　　By securing a Bitcoin-backed loan, Argo Blockchain is also able to increase its available capital without needing to liquidate mined BTC.　　If bullish projections about the price of Bitcoin by end of the year also prove to be true, then the company could earn a significant yield by “HODLing” the BTC sum which will mean paying fewer U.S. dollars per Bitcoin during the repayment process.　　The company also stated that it is delighted to continue its business relationship with Galaxy digital

2021-09-10Deep Dive

Bitcoin is one signature away from becoming legal in Ukraine and it's not following in El Salvador's

Ukraine has become the fifth country to officially regulate cryptocurrencies and recognise Bitcoin as a legal financial asset. And, while cryptocurrencies are now legal in Ukraine, they‘re not quite legal ’tender.　　This means the country‘s new law doesn’t quite put Bitcoin, or any other cryptocurrency, on the same footing as the country‘s national currency, hryvnia. It is, nonetheless, a milestone. The law pulls the crypto craze out of the ’fear, uncertainty and doubt (FUD) of being in a legal grey area.　　More importantly, the law holds the potential to facilitate the workings of crypto exchanges and lay down protections for those who own crypto and might be susceptible to frauds.　　“The development of a new industry will allow attracting transparent investments and will strengthen the image of our country as a high-tech state.”　　Mykhailo Fedorov, Ukraines vice prime minister of digital transformation, told the press　　On September 8, the Ukrainian Parliament introduced its crypto bill that allows the government to regulate virtual assets and create an official industry out of the crypto space. Crypto activity in the country, like most others including India, has been neither illegal nor legal so far.　　The only thing that‘s pending is the President’s sign off to bring the law into

2021-09-10Deep Dive

Price Prediction Bitcoin, Ethereum: BTC kick-starts second phase of bull run, joins altcoins

● Bitcoin price has sliced through an inclined resistance level, heading toward the $50,000 psychological level.　　● Ethereum price pierces through the $3,716 resistance barrier, indicating a move to $4,000 is nigh.　　● Ripple price is grappling with the $1.76 supply level, a breach of which would trigger a move to $1.70.　　Bitcoin price saw its uptrend being thwarted multiple times over the past week. However, the recent upswing seems to be taking a second jab at this barrier and is likely to push through it, restarting the bull run. Ethereum, Ripple and many other altcoins have already begun rallying with some achieving new all-time highs.　　Bitcoin price arrives at $50,000 psychological level　　Bitcoin price breached $50,000 on August 23 but failed to sustain itself above that level, leading to a sell-off. While BTC tried recovering from this crash, it failed time and time again, leading to a tight consolidation between $50,000 and $46,000.　　The recent upswing sliced through the inclined resistance level and is attempting to take over the $50,000 psychological level successfully. Assuming BTC does, this move could push Bitcoin price to $51,483.　　A decisive 12-hour candlestick close above $51,483 will likely trigger FOMO, propelling it to $56,361. In some cases, this move could extend

2021-09-10Deep Dive

Coinbase vs. Robinhood: Which one is better for cryptocurrency investing?

Coinbase and Robinhood are two of the most popular places to trade cryptocurrencies, but which one is better for you？ The answer depends on your needs, especially on how much crypto trading you intend to do and the costs youre willing to pay.　　Coinbase and Robinhood may appeal to different kinds of traders, though theres likely some significant overlap. Coinbase is a cryptocurrency exchange that targets traders deeply in the world of digital currencies. In contrast, Robinhood is a trading app that allows users to buy and sell stocks, ETFs, options and some types of crypto for no out-of-pocket cost.　　Heres how Coinbase and Robinhood differ along a few other key dimensions.　　Cost　　The cost structure at Coinbase and Robinhood are significantly different, and it doesn‘t help matters that Coinbase purposely obscures much of its fee structure from potential customers (though it does disclose them before you actually place a trade). That said, Robinhood is not exactly straightforward about how it’s compensated either.　　The fee structure at Robinhood is simple, relative to Coinbase‘s. In keeping with the broker’s “no commissions” model for stock and options, you won‘t pay any cost directly out of your pocket for buying and selling crypto. Instead, the cost of trading

2021-09-10Deep Dive

What does El Salvador’s new Bitcoin law mean for crypto markets?

El Salvadors Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore. Macro strategist Ben Emons explains.　　El Salvador was challenged on the first day of the new Bitcoin law coming in effect. The Chivo Wallet — which allows consumers to purchase goods and services in Bitcoin — temporarily shut down. While a technical glitch can happen, the impact on Bitcoin was dramatic with a spillover to El Salvador bonds, which jumped and caused the yield curve to sharply invert. It was an unwelcome sign that a wide use of Bitcoin may have major implications for the Salvadoran economy and the governments ability to pay interest on the debt.　　Bitcoin is now a currency to El Salvador, and the country — if it so wishes — could use Bitcoin exclusively to purchase goods and services. But relying on Bitcoin for commerce means the economy would be subject to liquidity and volatility of Bitcoin that cannot be controlled with domestic monetary policy. It reminds of previous emerging market crises such as in Argentina and Venezuela, where a foreign currency (the U.S. dollar) dominated domestic activity to such an extent that

2021-09-10Deep Dive

BITCOINHere’s what Sweden, Mexico’s central banks are saying about Bitcoin today

Countries around the world are either accepting Bitcoin‘s existence and utility or adopting it as one of their own. This acceptance is, however, not universal, and many top financial institutions remain wary of cryptocurrencies. The Governor of Sweden’s Central Bank is the latest to join the latter.　　Speaking at a press conference, Riksbank Governor Stefan Ingves compared Bitcoin trading to stamp dealing and collection. Whats more, he also suggested that the collapse of money or currencies not issued by a central bank is inevitable.　　The Governor‘s main concern about cryptos stems from his belief that digital assets can’t function and develop properly until governed and supported by financial regulators. While Bitcoin trading can “surely make you rich,” it is more of a hobby than a monetary system, he added.　　Here, it‘s worth noting that crypto-specific laws and regulations don’t exist in Sweden right now. However, back in July, the Governor had claimed that this might change soon owing to the industrys growing popularity.　　Countries around the world are either accepting Bitcoin‘s existence and utility or adopting it as one of their own. This acceptance is, however, not universal, and many top financial institutions remain wary of cryptocurrencies. The Governor of Sweden’s Central Bank is

2021-09-10Deep Dive

Will The Cardano Smart Contracts Upgrade Trigger A “Sell The News” Event?

Cardano smart contracts upgrade is almost upon us. With just three days left, there is a lot of speculation as to what the price of the digital asset will do until then. The weeks leading up to the launch have seen the asset hit multiple new all-time highs. That is until the crash that rocked the market on September 7th. Cardano suffered an 18% flash crash that saw it lose most of its gains for the previous weeks.　　Now, with the market still reeling from the crash, the digital asset has begun to regain some of the lost value. But at a much slower pace. One news that has helped to hold the price up has been the confirmation of the Alonzo Hard Fork that had been scheduled for September 12th. Developer IOHK posted on their Twitter that the project was all set for the mainnet upgrade.　　But as the date draws closer, the reality of what the upgrade might do for the price of ADA looms over the community. Most maintain a positive outlook for the coming upgrade. Others, on the other hand, believe that this will trigger a “sell the news” event.　　Are Investors Planning To Dump Their Cardano Bags？　　Historically, with

2021-09-10Deep Dive

Can altcoins recover faster than Bitcoin (BTC) after the recent dump?

BTC/USD　　Yesterday, in the first half of the day, there was pressure from the bears. They managed to push the Bitcoin price below $46,000, but sales volumes decreased and the daily low was recorded around $44,440.　　In the afternoon, buyers returned the pair to the support of $46,000 and, by this morning, the price was trying to hold at this level in a narrow consolidation.　　It looks like, today, bears may try again to test the $42,447 level. The most likely scenario is the further decrease in the rate of the decline.　　Bitcoin is trading at $47,017 at press time.ADA/USD　　Cardano (ADA) is the biggest gainer from the list, rising by 7%　　On the daily chart, Cardano (ADA) is showing strength after a recent sharp decline. The rise is also supported by an increasing trading volume, which means that buyers are ready to restore the price to its previous positions.　　If they manage to achieve it, there is a high chance to see a test of the peak around $3.10 soon.　　ADA is trading at $2.573 at press time.BNB/USD　　Binance Coin (BNB) has gained the least from the list as the growth of the native exchange coin has been only 1.19%.　　From the technical point of view, BNB has entered

2021-09-10Deep Dive

Here's How Many Americans Want to Make Bitcoin Official Currency

According to a new poll published by global public opinion company YouGov, more than a quarter of Americans want to follow El Salvadors lead by making Bitcoin an official currency.　　Image by today.yougov.com　　11 percent of the 4,912 US adults surveyed would “strongly support” such an initiative while 16 percent of them would “somewhat support” it.　　Expectedly, the share of those who are in favor of making Bitcoin a legal currency in the U.S. is much bigger among millennial Americans aged 25-34 (44 percent).　　In the meantime, only 11 percent of baby boomers would throw their weight behind Bitcoin, with 43 percent of them strongly opposing the idea of adopting it as legal tender.　　Americans who earn more than $80,000 per year are nearly twice as likely as those who earn less than $40,000 to support making Bitcoin an official form of currency (21 percent and 11 percent, respectively).　　Men are more open to adopting the flagship cryptocurrency than women (33 percent and 21 percent, respectively).　　When it comes to political affiliation, 29 percent of Democrats would want to mimic an El Salvador-style crypto bet as opposed to 26 percent of Republicans.　　As reported by U.Today, the Central American nations highly controversial Bitcoin law came into effect on

2021-09-10Deep Dive

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