Crypto Smart Contracts Changing EVERYTHING
Cardano Stands Against FUD – Cardano is finished it’s done extinct. In fact, let’s call it “Cardodo” and look we supported them forever but it’s hard to face the facts.
Charles has been selling a snake, every six years of the so-called r&d pseudo-scientific peer-review approach. Cardano has some serious cryptocurrency issues, and it can’t even handle a simple DEX. Time to sell your bags? Absolutely not.
Don’t fall for the FUD people because far from being a dodo, Cardano’s a go-go. It’s gearing up to fly. The proposal for smart contracts update has been submitted and the deadline is less than a week away.
#ReadyforAlonzo is trending among nerds and the hard fork combinator event is locked in for September 12. it is the end of a long and winding chapter and the beginning of an exciting new era for One of the most promising blockchains around. Let’s get it.
Price, FUD, and Twitter wars
we take a look at what’s happening with Cardano. After reaching new all-time highs above $3 Just a week ago. Cardona has had a pullback along with the rest of the market and the FUD coming in from Twitter was the sneaky First Jab.
In The latest Bitcoin correction, manipulation was the right hook combo that Brought the price down back below $2. At the time of this recording and ADA is sitting around $ 2.40.
As to where it’ll be by the time this post comes out. Well, Crypto moves pretty fast and a lot can change in the blink of an eye. As with most of the Alts not being pumped by the forces of the financial cartel. We’ll have to see what the IMF does first.
So, what’s been going on. Well, let’s clear up some of this FUD. the drama unfolded on Twitter. When multi-Pool DEX min swap, literally the first dApp on the main net went live on September 3. Exciting times for about 90 minutes, because then came the follow-up tweet.
Turns out due to the massive influx of users, People are seeing the message and “UTXOs are being used this block” and being asked to try again, why?
Well, It turns out there was a concurrency issue. Think of it as two people using the same ATM at the same time. It Just doesn’t work and sure the sun will rise, the Eth Maxis on Twitter were pretty quick to celebrate this so-called glitch in the system.
But This wasn’t a flaw in Cardano’s code. far from it. In fact, it’s just a reality of these baby projects encountering some teething issues. I’m talking about minswap here, mot Cardano.
In simple terms, they don’t have a currency, just a new way of doing things with an eUTXO protocol the devs need to adapt to, something an unusually well-groomed Charles went into detail on during the Livestream the community.
But even that wasn’t good enough for the haters like this guy gave his two cents on what Charles should have said. The response was a straight-up as you’d expect from a man once scheduled for an all crypto MMA brawl.
We’re not responsible for Minswap, and there’s nothing to fix, there is no problem. You guys aren’t getting it, as well as you don’t accept blame when people are outright lying about the facts.
Everything that has been claimed like one transaction per block is a straight-up lie. you tell them, Charles. Put on your garden shirt.
Anyway, this was in response to misinformation going around that (A) concurrency question was Cardano,s fatal flaw and (B) They could only handle one transaction per block, which is clearly not the case.
IOHK defused the FUD with a 25-per tweet that touched on the overall ledger approach, the benefits of their UTXO system, as well as some of the upcoming developments in the weeks and months ahead.
Look, the currency question is no news to any of the nerds building on Cardano. Just ask SundaeSwap, Ergo or OccamFi, or any of the other teams, who’ve got it done. SundaeSwap was talking about it back at the whitepaper stage and went on to develop a scaling solution of their own.
They Even just dropped an article called concurrency state and Cardano. In response to the straight-up lies going around online. Or you can check out Plutus OG occAMFi,s articles from way back which includes a cool analogy about a Coca-Cola vending machine to explain the issues at hand.
Cardano actually has concurrency. It’s for us as I’m protocols that use it. In short to design a concurrent system. That’s all there is no issue. projects need a game plan, it’s a technical challenge they need to rise to if they’re going to shine. It’s just the complete opposite of Ethereum.
It is possible to have as minimal of a state as you want with Cardano, and your transactions are final. Power comes with a great deal of responsibility, though.
More about FUD
But back to the fake FUD, the FUD. And look, the long and short of it is this anyone expecting Cardano to fail or not work properly has a pretty good chance of losing that bet.
By no means 100%, but they’re taking substantial risks with increasingly worse odds as the hardfork approaches. Either they don’t understand the tech, or they stand to lose out from its success, BitTorrent founder and Chia CEO recently likened Cardano,s approach to academic peacocking.
As if a strategy based on serious research was some kind of bad thing. You all know I love Ethereum, but man, they’ve definitely had their issues. As Sundaeswap wrote just a few days ago. The tendency of many prominent people to focus on one technology is unhealthy in our industry. It gets so toxic out there that commitment to only one project comes at the expense of all others, making it impossible to back down and still save face.
That’s why they’ll cling on to the tiniest and blow it way out of proportion, which is exactly what we’ve seen this week, a whole lot of hot air coming from the anti-ADA brigade.
Anyway, I mentioned, ergo had no such problems and all signs point to them being a major, major player in Cardano is the Defi ecosystem. After all, they’ve been aligned with IOHK pretty much since inception due to their overlapping communities, shared values, and, of course, extended UTXO protocol.
Well, any nerds watching might be interested in the second Ergo hackathon, who’s just announced for October. A chance for you to meet like-minded people, swap funny basement stories, and play Magic.
The Gathering until as late as 10 PM when your mom says you have to come home. If that wasn’t exciting enough. You can also submit project proposals and workshop new tools and daps for the Ergo ecosystem.
The Last hackathon in June saw proposals ranging from data notarization tools, and NIPoPoWs.
A noncustodial pseudo ETF platform as well is a blockchain-based raffle. Where a portion of the funds goes straight to charity, plus many more. Ergo,s tech is so good, Even Charles called it a marvel and the spiritual successor to Bitcoin.
So if you’ve got the chops and want to change the world for the better. This event should 100% be on your radar. Their philosophy is everything that’s so great about blockchain and crypto, a desire to create a monetary system that empowers the average person, especially those who are at a financial disadvantage in our societies, ending the cycle of economic abuse that’s at the very heart of the Fiat system. Plus, you stand a chance to when crypto prizes, get a job interview in a super fast growing ecosystem And generally, upgrade your skills and acquire new knowledge.
it’s a win all around. Application close on September 15, so go get them Bitsquad. As for those of you who don’t even know what code is but still claim to be here for the tech, Lets talk price action. And look it,s hard to call anything while bitcoin is calling the shots right now,
we’re probably going to have to let things cool off before making any plays, and I’ll say this, ADA has come off a massive rally to all time highs in September 12 date will have been priced in.
So even if bitcoin was sitting above $52000 Right now, I wouldn’t necessarily expect a crazy pump for ADA in the next week, as much as I would expect to sell the news kind of dumb.
My guess is, we’ll stay in a range for a while, and see things begin to pick up as the ecosystem takes off, which should happen pretty quickly Given the number of dApps, DeFi exchanges and NFT’s that will be ready at launch. Once you start getting established on Cardano, we can probably expect the huge impulse move to the upside. They say patience is a virtue. Anyone HOLDLing ADA for a while already proved they got it in spades. That’s all I got.
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