It’s been a big week for Cardano ADA as
the network is inching closer to adding smart contracts, everyone's darling Polkadot is
bringing parachain functionality online and Chainlink has come out with a new upgrade
which they claim will increase speeds by a factor of 10. This week we’re turning the tables and looking
forward to what’s coming up in the cryptoverse, so stop watching the prices and buckle in
for this weeks’ Exodus Crypt News.
Welcome everyone and thanks for joining us once again
for your weekly dose of reflection, Exodus style. I’m Kris Merkel and if you’re
new here, hit that subscribe button to stay connected for new videos about the cryptoverse
every week. If you’re a cardano fan it’s been a good week for you for a couple
of reasons. First, On February 20th of this year the Cardano
price hit a high of just above $1.17. This brought ADA to just below its all time high
of $1.30, from January of 2018. In total, the Cardano price has risen a whopping 500%
this year. All of this price action shows how popular
the Cardano project has become. For alternative comparison, if you look at Coin Gecko, ADA
is just a few cents away from its ATH while XRP still needs another 6x climb to reach
its previous peak. Why is Cardano price pumping so hard? We think
that there are two good reasons that justify the rising ADA price First, Cardano recently introduced staking
with the Shelly upgrade. Investors can stake their ADA coins and earn about a 4% passive
income for doing, well, nothing.
There's no lock up either which means your coins are
always available to you. This makes Cardano ADA more attractive to own, versus other coins
that don’t have these features. Second, Cardano is rolling out smart contract
functionality. After all these years, developers are finally going to be able to build on top
of Cardano. Exchanges, tokens, lending platforms, all of that and more is coming to Cardano
soon. Now that Cardano will have smart contracts
do you think it can compete with Ethereum? Let us know your thoughts and Cardano price
prediction for 2021 in the comments. Polkadot also continues to innovate, the creator
of Polkadot, the web3 foundation is one step closer to launching what they call parachains.
For those who don’t know, parachains are like individual blockchains that run parallel
to each other on the Polkadot network.
Since applications will be able to run on different
parachains, the Polkadot network will be able to handle a lot more traffic without the resulting
high fees, here’s looking at you ETH. Polkadot’s biggest advantage however is
its interoperability with other blockchains. Interoperability is Polkadot’s number one
selling point and if the massive Polkadot price appreciation is any indication, the
market is pricing this in as a very desirable feature. It can be difficult to keep up with all the
innovation happening in crypto because new features seem to be fast and furious.
smart contract platform Algorand is teaming up with Ledgermatic to offer a range of blockchain
services to enterprise clients. This is great Algorand news since it shows
how blockchains aren’t just for individual users, they can also offer solutions to large
corporations and other professional organizations. The Algorand price hasn’t gone up much on
the news, but then again the entire crypto market seems to be taking a nice breather
Pricing oracle Chainlink has figured out a
way to 10x its efficiency. We won’t get heavy into the details but
the short version goes like this. The Chainlink team found a way to move a bunch of computation
off-chain. All of this work that was being done on Ethereum before, can now be done offchain
and only the results get published onchain. That means a 10x boost in efficiency. This
should lead to lower fees and more scalability. Way to go Chanlink team. The almighty Federal reserve wasn’t looking
so mighty recently when a glitch shut down their system for several hours.
“operational error” caused a bunch of different services to go offline, including
direct deposits, ACH wire transfers and other financial products that underpin the global
financial system. Definitely not a good look for the legacy financial system. Compare this to Bitcoin, the world’s most
secure financial network. Bitcoin never goes down. For more than a decade Bitcoin has been
making new blocks and clearing billions of dollars worth of transactions without fail. Decentralization for the win
If you had to guess the total number of crypto users worldwide, you may be surprised. Crypto
has now topped 100 million people. Even though Bitcoin has been around for more than a decade
these are still early days of crypto and with everything that’s happening with Cardano,
Bitcoin, Ethereum and all of the other cool projects out there, it’s groundbreaking
stuff but we’re only getting started. One thing you can count on is Exodus will be right
here with you for the ride. Thanks for watching everyone and if you enjoyed this
video you know what to do.
Until next time, HODL on!.