Cardano News and Price Analysis: ADA +1.66% in last 24 hours! Cardano Weekly Update Shows Progress. Saturday, August 19
Important Cardano Cryptocurrency News
Hoskinson Rebuts Buterin’s Assertion Again
Buterin had earlier expressed reservations on Cardano’s Ouroboros protocol in which he questioned the competency of the project leading to a rebuttal by Hoskinson, the Cardano founder.
Last week Buterin took to Reddit again to express his dissatisfaction with the answers Hoskinson gave saying, “Answering this is easy and also showcases the importance of having concrete statements about protocols and proofs of their properties.”
In the technical argument, Buterin raised questions regarding the security of the Ouroboros protocol to which Hoskinson gave answers to all his queries, comparing the Cardano protocol to Dolev-Strong Cosensus protocol saying,
“Synchronous protocols are typified by a round-based structure, an explicit hard-coded upper bound on network delay and protocol logic that handles timeouts. Take the Dolev-Strong consensus protocol as an example. Such a protocol cannot tolerate that any single honest player suddenly experiences network delays beyond the hard-coded bound.”
Cardano Weekly Update Shows Progress
The Cardano team has continued to be transparent and communicative to the community on the progress made in the project’s roadmap.
The team is working on Daedalus 0.11.1 and Cardano 1.3.1 and this week’s update mentioned bug fixes and enhancement of the paper wallet QR code.
The team announced that all wallet based issues were attended to and loose ends fixed. Efforts are in high gear at further decentralization of the Cardano network. Although the team has submitted a delegation paper on the scheme, it is not yet clear that it has been confirmed.
Cardano Struggles to Bounce Off Lows
There are indications that even at lows of $0.10009 that the bulls are not willing to buy into ADA. With resistance hardening at $0.11 and $0.13, the 20-day EMA slopes down while the 50-day EMA flattens out.
Since prices are below $0.111843 it indicates that selling pressure is yet to let up.
ADA/USD Price Chart, Sunday August 19th:
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