Posted 10 months ago | by Catoshi Nakamoto
Cardano is fast approaching the next stage in its roadmap, and while the naysayers would like you to believe otherwise, smart contract functionality is well and truly on its way. Today, rolling up the freshest cuts of Cardano and wrapping them into the tenderest and most savory rolls for your youtube consumption.
Let’s get it!
Welcome to BitBoy Crypto, home of the BitSquad, the largest and greatest crypto community in all the interwebs. My name is Ben. Everyday on this channel, I show you how to make money in crypto. If you like money and crypto, then make sure to hit that subscribe button. In this video we serve up some fresh Cardano news.
The Cardano community is easily the most loyal and passionate in all of crypto. Just look at this recent vote for a funding round on Project Catalyst. Each time there’s a new vote they a huge increase in numbers. Which just goes to show how well Cardano continues to attract new supporters. Now as much as Charles Hoskinson would tell you this is because of their awesome tech and overall ambition, you’ve gotta admit it’s also thanks to his warm and fuzzy in presence in the space. There’s no doubt about it: he truly is the most wholesome and approachable crypto billionaire tycoon around. In terms of fans, the closest thing we have to a fully fledged blockchain rock star. Or in his case, more of a ‘folksy singer songwriter’ type, leading a quiet life on the Bison ranch.
In a recent live-stream to his tens of thousands of geeky groupies, Charles gave his thoughts on everything from Fungi, Warhammer, String Theory, the Keto diet, as well as his favourite character to use while playing Super Mario Kart: the Koopa. The perfect choice, considering Cardano’s whole strategic approach appears to have been taken straight from the Tortoise and The Hare; with Ethereum getting serious first mover advantage. As for who will eventually win the blockchain race, well, Charles also addressed a potential reunion between himself and Vitalik, crypto’s very own answer to Simon and Garfunkel. Although it seems unlikely any time soon, he did say he’d be willing to… build a bridge over troubled water… if there was less toxicity in the space, and the Ethereum community-at-large was willing to do the same.
But he made a point that bears repeating: namely that we should remind ourselves why we’re in crypto at all. Because as much as people love getting swept up in the narrative, it’s not actually about ADA versus Ethereum vs Polkadot. It’s about crypto versus the legacy financial system. That’s the narrative we should all be focusing on. Divide and conquer folks, let’s not allow ourselves to get suckered in.
But hey, who doesn’t love a bit of drama? And what would an ADA update be without a side of Twitter beef to go with it? This week, we saw how some people are so committed to trashing Cardano, they’re actually betting on Polymarket about whether Smart Contracts will be available by October. And currently ‘NO’ has a slim majority at 52 percent. Well, if you’re willing to put your crypto where your mouth is on this one, then be prepared to lose. Even Charles couldn’t resist tweeting in response, saying that the next two months could be fun: and he expect lots of meltdowns and temper tantrums from the “paint chip brigade.”
Cardano’s road to smart contracts continues. As slow and steady as Charles’s very own spirit animal, inching towards at the finish line. The ninja turtle himself confirmed just last week that they’ll be available as soon the Alonzo hard fork is deployed. Which he believes will be as soon as September.
Now many of you will be familiar with the Alonzo roadmap, which has followed a carefully planned, colour-coded system. The White phase, where it’s currently at, gave their Plutus partners and Catalyst Fund Winners access to the Alonzo testnet. The next stage is Purple, which will see a significant increase in users as the testnet’s opened up to the community. And just to be sure, it’ll be divided up into two parts: light purple, which will allow for simple smart contracts, and then dark purple, with the introduction of more complex smart contracts. Smoke on the water baby. This is super exciting stuff. Because after 6 years of development, rewriting Plutus more than a dozen times, creating two new programming languages, Goguen is finally getting ready to roll. And with thousands of developers committed to building on the network, a huge ecosystem of dApps ready to hit the ground running, things actually like look like they’re on track for Cardano.
With all this good news, ADA fans can now sign up to the Cardano 2021 summit taking place next month in Wyoming. But don’t worry as anyone unable to make it to the Cowboy State can also register for a host of virtual events, as well as local meet ups around the world. Speaking of sign ups, ADA holders can also join the best Cardano staking pool there is: the BitPool. Click the link below to find instructions on how to stake your ADA with the BitSquad and earn that sweet APY. And by staking your ADA, you also can vote in any future proposals or funding rounds. Just today at time of recording Fund6 was announced. So if you want to get involved while earning free crypto gains, well it’s time to get staking.
So what else has been going on for Cardano? This week also saw the announcement of an official partnership between Liqwid Labs and SundaeSwap. Liqwid is an algorithmic, non-custodial liquidity protocol for lending and borrowing on the Cardano blockchain, which will now integrate SundaeSwap as its DEX of choice once the Alonzo Hard Fork is complete. SundaeSwap have also agreed to develop one of the first oracle solutions on the Cardano, allowing Liqwid to easily and securely initiate lending and borrowing markets for Cardano native assets in supported liquidity pools.
In other DeFi news, a new IDO launchpad for Cardano called Kick released several press releases this week, even going so far as declaring themselves ‘Cardano’s Secret Weapon, set to dethrone Ethereum’. Or as they also put it, helping Ethereum ‘kick the bucket’. Really? Not quite the kind of tone Charles seems to be going for himself. Either way, these guys hope to ‘leverage DeFi innovations to provide transparent, efficient, and fully decentralized crowdfunding services’. As well as offering full support of Cardano native tokens. Sounds promising, but they might want to work on their PR as well. Still, the point is that DeFi is coming to Cardano. Smart Contract Functionality is around the corner. And the ADA haters could be in for a rough couple of months. But what about Cardano lovers and their bags of precious ADA?
Cardano’s held up phenomenally well during the mini-bear market, and it’s currently sitting at around the same levels as early May. To put it into context, compare that to DOT for example, Link, or yes, Etheruem, and we can see just how Diamond-handed the Cardano community is. Not surprising considering over 70% of it is staked. Still, that that didn’t stop legendary trader Peter Brandt from posting this picture on Twitter, which identified a potential head and shoulders pattern, that could lead to a crash of 60 to 90%. Yes, the world might have scoffed at you Peter when you correctly called the Litecoin top in 2018, but with all respect to both you and LTC, Cardano is in a totally different league. It has a super strong community, major international adoption, the majority of tokens are staked, and it’s just about to launch smart contracts on one of the most efficient blockchains around. The ADA bears might have been liking this tweet as fast as they their little paws could manage, but it seems practically impossible at this stage in the game. As for my ADA price prediction for this bull run, as well as some of our other favourite crypto assets, check out my recent video in the description below.
That’s it from me. Be blessed. Bitboy Out.