US SEC is Not Coming After Cardano (ADA): Charles Hoskinson
Hoskinson explained that the SEC’s continuous crackdown on crypto entities is political and has nothing to do with securities laws.
Cardano is a public blockchain working under the Ouroboros Proof-of-Stake algorithm. It’s touted to be the first one to have been founded on peer-reviewed research. It was founded by Charles Hoskinson – a mathematician who also co-founded Ethereum.
Cardano is also developing a smart contract platform that is supposed to deliver more advanced features than its competitors. It should serve as a stable and secure platform for developers to create enterprise-level decentralized applications (dApps).
Cardano was primarily initiated as a two-layer protocol that separates the ledger of the accounted figures from the reason for which these figures are passed from different accounts.
This distinct separation lets the smart contracts (still to be deployed) on the platform be more compliant.
Cardano works through the Ouroboros Proof of Stake (PoS) algorithm. The core innovation that Ouroboros introduces beyond security is a modular and flexible design that enables the composition of many protocols to enhance the overall network functionality.
ADA is the native token of Cardano. Interestingly, it’s named after Ada Lovelace – a 19th-century mathematician who is recognized as the very first computer programmer, also the daughter of the poet Lord Byron.
Every ADA holder also holds a stake in the network. Token holders can also delegate their tokens into a staking pool and earn rewards and participate in the governance of the blockchain.
Going forward, once Cardano’s smart contracts are live, ADA should also be usable for a variety of applications and services.
It has become one of the world’s largest cryptocurrencies, with a total supply of 45 billion.
In 2021, Cardano moved closer to integrating smart contracts on its network and continued with the new developments, in general.
On March 1st, the team launched the Mary update. It introduced core Goguen features of native token functionality and multi-asset support. On the other hand, Goguen is a major upgrade stage on the Cardano roadmap that introduces smart contracts and also the ability to build decentralized applications.
Hoskinson explained that the SEC’s continuous crackdown on crypto entities is political and has nothing to do with securities laws.
Cardano has been late to the NFT party but it is slowly emerging as a dominant player.
The XRP Ledger (XRPL) has gained significant popularity recently due to its fast transaction speed and low cost.
Immediate measures were enacted to address the slippage concern within the MuesliSwap order book.
The accumulation comes in the wake of growing DeFi activity on the network.
Solana saw the highest inflows among the altcoins, clocking its most bullish week in 16 months.
Those willing to observe the price performance of BNB, SOL, ADA, and other coins named securities by the SEC could
A bearish signal on Cardano’s daily chart reflects the impact of ongoing regulatory pressure against crypto.Â
The Cardano exec loans out his private jet regularly to other high-profile individuals.
The Solana Foundation wants to work on establishing clear regulations, but does not agree that SOL is a security.