Market Wrap: Bitcoin Dips to $11.5K; Cardano Is Making a Big DeFi Move

Bitcoin’s price is trending down and an Ethereum competitor is entering the DeFi race this weekend. Bitcoin’s price was able to rally to as high as $11,917 Friday before losing momentum, falling back into the $11,500 range. “Over the past day, bitcoin tested the level of $11,900 but it did not succeed, and BTC slipped,” said Constantine Kogan, partner at crypto fund of funds BitBull Capital.  Bitcoin and gold continue to trade together. Gold is also down Friday, in the red 1.6% and at $2,030 as of press time. “The…

IOHK Gives Date For Payout of Delayed Cardano Incentivized Testnet Rewards

Participants of the Cardano Incentivized Testnet (ITN) were expecting to receive reward payouts on August 3. A Shelley rollout plan had scheduled the payout days after the Shelley hard fork, on July 29th. While the Shelley mainnet launched without a fuss, the ITN rewards date came and went with no sign of a payout. Source: twitter.com Updates from IOHK on the matter were non-committal in terms of giving a firm date. But the latest information is that rewards will be redeemable from tomorrow. Boom https://t.co/rHWdlxJ2q7 — Charles Hoskinson (@IOHK_Charles) August…

Cardano Continues Building Steam by Concluding Project Renovare

The Cardano Foundation has unveiled a new-look website as part of its brand repositioning. This forms part of a company-wide initiative, called Project Renovare, to rebrand Cardano as it moves into the smart contract phase of development. In a blog post, PR and Communications team member Elliot Hill said the move was more than just updating the look. Rather, it’s also part of a strategy to grow the community and drive the adoption of Cardano. “… it is vital that both Cardano and the Cardano Foundation brand become synonymous with…

Cardano (ADA) Shows Continued Signs of Weakness Despite Bullish Fractal

Cardano (ADA) has been one of the strongest major cryptocurrencies throughout the past year. The token has been posting consistent gains since the start of the year, which has been driven by massive inflows of new investors as well as some positive fundamental developments. One such development would be the recent Shelley mainnet upgrade, which has long been anticipated by investors. The successful implementation of this upgrade is expected to bring ADA’s usage and utility to the next level. Despite this strength, it has been facing some short-term technical weakness…

Cardano ‘Dwarfs’ Tezos After Shelley Hard Fork, Says Security Auditor

Quantstamp, a company that has been auditing Cardano’s (ADA) code base for the past two months, believes that after the Shelley hard fork, Cardano will trail only Ethereum (ETH) as a smart contract platform, dwarfing its arch-rival Tezos (XTZ). Cardano’s code base “one of the best” Quantstamp CEO Richard Ma told Cointelegraph that in his opinion, Cardano has some of the best code in all of the blockchain space. He believes it is on par with ETH 2.0’s Prysm: “It’s clear they’ve put a lot of internal effort to solidly…

Blockchain Bites: Plus Token Ponzi Popped, Cardano Forked and tZERO Cut

Cardano hard forked to its proof-of-stake network, token platform tZERO cut staff and compensation, and a derivatives exchange is looking to list on Nasdaq. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here.  Top shelf Hello, ShelleyCardano is now running a proof-of-stake consensus mechanism. Announced Wednesday, the open-source smart-contract platform designed to challenge Ethereum’s lead position, hard-forked from the centralized Byron network into the decentralized Shelley network. IOHK, the lead design…

Cardano Reaches “Orbit” as Shelley Launches Successfully: Charles Hoskinson

Cardano developers and stakeholders rolled out the main net for the Shelley upgrade today, marking a shift to a more federated blockchain with staking enabled for all. Blockchain founder Charles Hoskinson announced his excitement in a tweet published just an hour ago. Emphasis his, Hoskinson wrote: “We have reached Orbit. Shelley Hard Fork is Successful. When Shelley? Now!!!!!!!!!! Shelley has fully launched.” We have reached Orbit. Shelley Hard Fork is Successful. When Shelley? Now!!!!!!!!!! Shelley has fully launched https://t.co/ckuiVJfqnZ pic.twitter.com/jPYG7f5FOq — Charles Hoskinson (@IOHK_Charles) July 29, 2020 The launch comes…

Cardano Mainnet Goes Live Today, Here’s What to Expect

After five years of development, Cardano will launch the Shelley mainnet today at 21:45 UTC. The weekend saw a frenzy of activity from developers, IOHK, who were busy performing last-minute checks and tests to ensure a smooth transition from the Byron chain. “The current Cardano Byron mainnet will become the Cardano Shelley mainnet on Wednesday 29th July 2020 at 21:44:51 UTC, starting at epoch 208.” According to their blog post, which they posted on Monday, the final versions of critical software components are complete. However, minor tasks related to the…

Hoskinson AMA Reveals Details of Cardano Foray into Africa

Charles Hoskinson, CEO of Cardano (ADA) developers IOHK, took to YouTube on July 25 for one of his regular ask-me-anything sessions. Among a wide range of topics covered, Hoskinson gave details about the status of a number of tenders aimed at making inroads into Africa. Can’t win ‘em all Hoskinson admitted that IOHK had been underbid on its primary tender, to facilitate a fertilizer voucher scheme for farmers with Ethiopia’s Agricultural Transformation Agency, or ATA. This was despite putting in what he felt was an incredibly low bid himself. “It…

Why Cardano (ADA) Founder Predicts Big Ecosystem Growth in 2021

IOHK CEO Charles Hoskinson shared his prediction for the future of the Cardano ecosystem, in which he sees a project rivaling Ethereum in terms of the number of assets and dApps running on the platform. This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate — Charles Hoskinson (@IOHK_Charles) July 26,…