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As part of Bitzlato’s ongoing money laundering controversy, the Financial Crimes Enforcement Network (FinCEN) listed Binance, a leading cryptocurrency exchange, as one of the top three Bitcoin-receiving counterparties of Bitzlato in a recent report published on January 18th. The FinCEN report highlights Bitzlato, a Russian virtual currency exchange that specializes in P2P services and exchange, as a […]
Bitzlato creator Anatoly Legkodymov is arrested. The U.S. Department of Justice launched a "significant worldwide cryptocurrency enforcement action" against the corporation. "Primary money laundering issue" authorities confiscated its website. (Read More)
Charles Hoskinson, the founder of Cardano, has welcomed Hydra, its layer-2 scalability solution, to the leading Dapp on the blockchain. A successful demo was completed by Hydra in the well-known decentralised exchange DEX SundaeSwap. The DEX claims that even if a real launch is still some time off, it is a significant step forward for […]
Hydra is a set of technologies meant to help Cardano (ADA), the world’s biggest proof-of-stake (PoS) system and prominent smart contract platform, handle scalability and security challenges. An unknown Crypto Twitter user asked IOG’s Matthias Benkort (@ KtorZ_) about the intricacies of Hydra’s architecture after the discussion about the newest enhancements to the Cardano (ADA) […]
Authorities said the Hydra darknet platform had millions of users, where malware, drugs, counterfeit products, stolen data, and digital assets were traded. (Read More)
Despite what you may hear, your Bitcoin is not bulletproof from seizure. Covered: World’s Largest Darknet Market Nixed Mixed Bitcoin, Custodial Exchange World’s Largest Darknet Market Nixed The world’s largest darknet market (DNM) has been shut down by German authorities. The servers of Hydra Market, “the most prominent Russian darknet platform for selling drugs and […]
The post How and Why Did German Authorities Just Seize 543 Bitcoin? appeared first on CryptosRus.
The non-EVM alliance could shift the levers in DeFi going forward. Covered: Non-EVM Chains Finally Competing in DeFi Milkomeda: Creating the Non-EVM Alliance Charles Hints at Major DeFi Growth Non-EVM Chains Finally Competing in DeFi Other than Solana and Terra, there are no other non-EVM chains competing in the DeFi space. When I say non-EVM, […]
The post Coinbase, Terra Funding Protocol to Bridge Algorand, Cardano, and Solana appeared first on CryptosRus.
Cardano announced its Hydra protocol last year and has continued to develop on it ever since. The project which finally gained smart contract capability in 2021 has been making strides in proving that it is a force to be reckoned with in the space. Its decentralized finance (DeFi) space has begun to take off. Now, it offers insight into the Hydra protocol and how much progress the team has made with scaling it. Hydra Has Evolved In a recently published report on its official website, the developer behind Cardano known as IOG has provided more information on what the project Hydra is up to. It explains where the protocol is now if far from where it is coming from. Hydra which was created by the Ouborous team to increase throughput, minimize latency, and provide cost-efficient solutions without sacrificing storage resources continues to evolve. Related Reading | Bitcoin On-Chain Demands Suggests That The Market Has Reached Its Bottom Hydra has now matured into a proof of concept protocol, something that was not in the initial roadmap. This has pushed the project towards “a more defined implementation for the testate MVP.” There are different Hydra Heads, which involve a robust network layer between Cardano and other blockchains, as well as other smart contracts that will drive the lifecycle of a Hydra Head. Acting as a mini-ledger, it works similarly to the on-chain main ledger of the Cardano network, but on a smaller scale, as well as off-chain. ADA trending around $1 | Source: ADAUSD on TradingView.com With the consensus algorithm provided on this protocol, all parties involved in a transaction need to agree before it is allowed to go through. This provides a very high level of security for those using the protocol. “A consequence of this is that, as a participant, I cannot lose money I haven’t explicitly agreed to lose. Why? Because any valid transaction requires my explicit approval,” the report reads. Cardano Heading To A Million TPS One of the selling points of the Cardano network is how many transactions per second it can process. The proof of stake network is significantly faster than ethereum, its leading competitor. The project is committed to improving the TPS. However, that is not all Hydra is about. Related Reading | Why The IOTA Foundation Donated £1M To The Imperial College Although TPS can sound like an important metric, the report establishes that it is the least meaningful metric to use when carrying out a comparison since transactions can come in different shapes and sizes. Yes, the blockchain is working towards more scalability but “scalability isn’t about a million TPS.” Instead of looking at TPS, the report asks to look at throughput, finality, and concurrency, since these metrics rank as more important in the grand scheme of things. These three metrics represent volume, speed, and amount of work done, the report says. Featured image from Blaze Trends, chart from TradingView.com
Now that DEXes are live on Cardano, what’s next for Cardano FUD enthusiasts? Cardano’s scaling problems, OBVS. What the trolls will neglect to tell you is that Hydra will not just scale Cardano, it will also kill entire Twitter followings. So, enjoy SundaeFlop while it lasts. Covered: Intro To SundaeSwap FUD UTXO v. Account Model […]
The post How The Hydra Scaling Solution Kills Sundaeswap FUD appeared first on CryptosRus.
BRLi and Toulouse INP leverage NVIDIA Modulus to create AI-based flood models, significantly enhancing real-time flood forecasting and risk mitigation. (Read More)
Rumors of Hydra's unnatural metrics making headlines have forced Cardano developers to chime in and clarify.
The Cardano (ADA) community is excitedly buzzing as the pioneering L2 Hydra solution launches on the mainnet. However, discussions are now taking place about Hydra’s actual bandwidth and tech performance specifications. Recently, a seasoned developer shared his views on the narratives surrounding the release of this major solution. The discussion started from a tweet by […]
CryptoQuants CEO Ki Young Ju dismissed the idea that private CoinJoin transactions are mostly used by hackers to launder stolen funds.
The first Hydra node compatible with the Cardano mainnet was launched on May 11, according to developer Sebastian Nagel. Hydra is a layer2 scaling solution designed to improve scalability on the Cardano blockchain. Its launch came after several months of testing. According to its technical documentation, the protocol aims to increase transaction speed through low […]
The post Cardano’s hydra scaling solution goes live on mainnet as Ethereum gas fees surge appeared first on CryptoSlate.
Cardano is gaining slightly today as the bulls seek to rally out of the bearish zone. Its trading volume is down by over 15%, but its price has entered a consolidation phase. ADA is trading above its 7-day low of $0.3512, implying that a return to the 7-day high of $0.3967 remains possible. ADA Price [...]
The post Cardano (ADA) Bounces Back From The Red Zone, Will It Continue Minting Gains? appeared first on Crypto Breaking News.
Cardano, a leading PoS blockchain, took a step forward towards scalability as the first mainnet-compatible Hydra node went live, Sebastian Nagel, the project developer, announced the release of Hydra node version 0.10.0 after successful demonstrations of Hydra heads on the Cardano mainnet during recent review sessions. According to GitHub, the release includes technical changes required […]
Hydra Pay looks to forever reshape blockchain micropayments and attract DeFi development on Cardano.
Cardano is buzzing with excitement as one of its prominent community members, known as ADA Whale, unveils a groundbreaking decentralized payment service called Hydra Pay. This eagerly anticipated solution comes at a crucial moment for Cardano’s native cryptocurrency, ADA, which has recently faced significant challenges following the United States Securities and Exchange Commission’s classification of [...]
The post Cardano Price Momentum Bid Fizzles Out Despite New Payment Feature appeared first on Crypto Breaking News.
Despite a massive Cardano whale accumulation, ADA, its native currency, remains bearish, prompting questions about the strength of the underlying fundamentals and whether the leg up of Q1 2023 is over. ADA’s volatility has been dropping in recent weeks despite a slew of positive developments, mainly from on-chain data. Related Reading: Cardano TVL Climbs By 10% In A Day – Is ADA Set To Soar Once Again? As an illustration, the coin is down roughly 20% from April peaks and retesting a local support zone of around $0.38. Whales Doubling Down, Activity Rising In Cardano Still, even in these market conditions, there are signs that ADA whales are accumulating in the ecosystem. Although the reason for the swarm is unclear, according to IntoTheBlock, large transactions worth over $100,000 have been made over the past 24 hours, worth around $10 billion. The bulk sale of this size stands at $20 billion in the past week. Moreover, data also shows that “large holders” control 35% of ADA’s total supply. These entities act as a proxy to institutional players’ and whale activities, showing how they may be investing and positioning. While it is unclear what knowledge the Cardano whales have, their activities suggest that they are buying the dip. This is considering that ADA is still down around 87% from 2021 peaks. Besides whales buying in bulk, Cardano’s ecosystem is showing promising signs, with the blockchain remaining one of the most highly developed and used. According to Santiment, 2.15 billion transactions were processed on Cardano. Typically, active networks, in both development and use, point to quality and confidence. The more there are projects and addresses, the higher the odds of the platform’s coin finding support. The spike in activity over the past few months, even with the general market lull, could be due to various non-fungible token (NFT) and decentralized finance (DeFi) projects launching. Djed, an algorithmic stablecoin, is already live on the mainnet. DeFi and NFT projects look to take advantage of Cardano’s EUTXO model. This system mirrors how Bitcoin functions but adds a layer of smart contracting, just like Ethereum. However, one of the main developments of Cardano in recent days is the release of the first Hydra Head on the mainnet. This layer-2 scaling solution uses state channels that extend the concept of payment channels. This technology can drive growth, possibly supporting ADA prices in the long haul. Related Reading: Cardano Launches First Hydra Head For L2 Scaling, But Why Is ADA Dropping? ADA Remains Bullish Even with the recent contraction, Cardano’s long-term prospects look good. Presently, whales appear to be accumulating, adding over 150 million ADA in just one month. With big players bullish on the coin, doubling down on dips, ADA prices could recover. In the medium term, the ceiling remains at $0.46, marking April 2023 highs. -Featured Image From Canva, Chart From TradingView
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