Cardano (ADA) the 11th ranked cryptocurrency has seen some gains as many other coins across the market have stumbled.
ADA’s bounce may be driven by updates on the technical side as the coin presents a series of papers at conferences that advance the overall protocol.
The sidechain paper was written by Kiayias Zindros, Peter Gazi, Dionysis Zindros. It primarily looks into the importance of a sidechain system and how assets can safely be moved between blockchains.
IOHKs sidechain paper is sure to impact the current scalability problems on blockchain to help bring a more efficient interoperability between the protocols. On top of this, there is even a firewall to limit the possibility of failure if the sidechain does so on the blockchain.
‘Redactable Blockchain in the Permissionless Setting’ is another blockchain paper approved for the conference which is written by Dominic Deuber, Sri Aravinda Krishnan Thyagarajan and Bernardo Magri.
It’s safe to say that with all this, the blockchain’s security is becoming an important issue showcasing the need for a secure blockchain in today’s world. Aggelos Kiayias if the Chief Scientist at IOHK who has noted the importance of side chains especially to functions such as smart contracts.
Find out when ADA reaches critical levels. Sign up for push notification to hear about every new article on economicgazette.com.
Let’s start with the team and technology behind ADA. Charles Hoskins is the CEO of IOHK, developer of the Cardano project, and also a co-founder of Ethereum. Hoskins is quite face-forward on social media and understands the market very well. He believes that ADA will be the first trillion dollar coin and will be known for real-world practical value. ADA’s e-Wallet is called Daedalus, one of a kind in the market. It gives users the ability to activate decentralized applications within the cryptocurrency’s Blockchain. So, it’s both very powerful, versatile and safe.
Cardano’s Sidechains is going to Oakland https://t.co/5wbjHrj1L1 this is a major conference and one of the most rigorous. Congratulations to the authors and I can’t wait for more!
— Charles Hoskinson (@IOHK_Charles) January 9, 2019
“Why is anybody worthy of their positions in the market cap? Bitcoin is advertised as a payment system and a means of exchange, and then everybody who’s ever tried to use it for that, it’s been a miserable failure. They usually stop taking it, or they find ways to take cash, and through a creative structure like what bitpay has done. Ethereum claims to be a world computer, but then cryptokitties breaks it,” Hoskins said in a ama interview.
Hoskins has also assembled a very sophisticated team around him applying high level academic computer science to raise the standard of quality assurance.