Cardano (ADA) Back in Top-10 of Shelley Progress Announcements

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Sun, 05/31/2020 - 14:39
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Vladislav Sopov
In three days, Cardano (ADA) has surged almost 50% and continues to rise. Analysts are sure that the rally is nowhere near its end, which doesn’t involve speculation.
Cardano (ADA) Back in Top-10 of Shelley Progress Announcements
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Cardano (ADA) is the undisputed top performer among all crypto behemoths. Its price has surged 18.7% in the 24 hours and its market capitalization surpassed the $2.5B mark.

Welcome Back to The Top-10

During the Cardano (ADA) rally, the cryptocurrency surpassed Tezos (XTZ) in terms of market capitalization. Currently, ADA is ranked 10 caps list of the crypto market.

Cardano (ADA) back in top-10
Image by Coingecko

This achievement was celebrated by Charles Hoskinson, Founder of IOHK, the development and engineering company behind Cardano's blockchain progress. 

Cardano (ADA) leader Charles Hoskinson celebrates ADA revisits top-10
Image by Twitter

This price rally may be attributed to the optimistic announcements regarding the progress from the Shelley testing. Shelley is the next stage for the Cardano (ADA) platform development, which is associated as the ultimate level of decentralization.

Now Shelley is intensifying its testing within the F&F Testnet. Recently Mr. Hoskinson mocked all of the Cardano (ADA) skeptics who doubted the launch of smart contracts in 2020.

In his exclusive interview with U.Today, IOHK's Founder highlighted that with the Shelley mainnet launched, the platform will be unmatched 'from every dimension'.

Gavin Andresen May be Wrong About Altcoins

Top cryptocurrency analysts are sure that Cardano's brilliant price rally will continue. Seasoned trader Michael van de Poppe indicated that breaking above the next resistance level may bring ADA above its psychological level of $0.1.

CryptoMichael is very optimisic about ADA rally
Image via Twitter

It should be noted that Gavin Andresen, an original member of the Bitcoin Foundation, recently announced that he thinks that altcoin prices are driven only by speculations.

It looks like last week challenged these estimations. Apart from Cardano (ADA), IOTA (MIOTA) jumped 15% on the news of its Hornet node software update.

The price of Ethereum Classic (ETC) also went through the roof on the expectations of its Phoenix hardfork.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Monero-Bitcoin Atomic Swaps Live in Testnet, MVP on Menu

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Thu, 01/14/2021 - 17:39
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Vladislav Sopov
Atomic swaps are peer-to-peer interactions between two blockchains. With new release by COMIT enthusiasts, BTC/XMR swap is right around the corner
Monero-Bitcoin Atomic Swaps Live in Testnet, MVP on Menu
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COMIT Project tasked with building cross-chain interaction infrastructure, has shared an update of its Bitcoin/Monero experiments. While testnet XMR/BTC swaps are up and running, while minimal viable product (MVP) is coming soon.

Developers polish XMR/BTC swaps

According to the announcement shared by COMIT team in its official subreddit, during last weeks several atomic swaps occurred between Bitcoin (BTC) testnet3 and Monero (XMR) stagenet sandbox environments.

XMR/BTC swaps are live in testnet
Image via Twitter

Meanwhile, the setup of the instrument remains cumbersome, in particular - on Bitcoin (BTC) side: it takes full Bitcoin testnet node and depends on internal wallet used for testing. 

MVP, which is going to be shipped in the next phase of experiments, will initially act as a single-sided tool. Users will be allowed to buy XMR from a fixed market maker that broadcasts XMR/BTC price on a website.

First version of tool will be released in form of a command line interface (CLI).

What does that mean for Bitcoin and for Monero?

The team is sure that single-sided version of a new tool (one direction/one fixed maker) is a good one to start with, in terms of further development. 

Next releases will include decentralized market-making (maker discovery and orderbook) and evolve into peer-to-peer marketplace.

At the same time, another team is working on different solution for BTC/XMR atomic swaps. It is funded by a large-scale Community Crowdfunding System (CCS), Monero community-driven initiative.

Releasing atomic swaps with Monero (XMR) may result in increasing the privacy of Bitcoin (BTC) holders: they will be able to obfuscate transactions with no need to interact with centralized services.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)