Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Cardano (ADA): The Ethereum killer

Ethereum, Solana, Cardano

<ul class="summary-list"><li><keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> plunged to its lowest since December 2020 on Thursday, as a rout in risk assets slammed <keyword id="11909331" type="UNKNOWN" weightage="60" keywordseo="crypto-market" source="Orion">crypto market</keyword>.</li><li>The most traded cryptocurrency broke below $25,500, wiping out all of 2021's gains.</li></ul>The cryptocurrency market came under fire for a second day on Thursday, as a collapse in a large stablecoin and a broad-based flight from risk assets sent bitcoin to its lowest since late 2020.Bitcoin plummeted below $25,500 Wednesday, according to data from Bloomberg, its lowest since December 2020, effectively wiping out all of last year's gains. By 5:04 am ET, bitcoin was 11.5% down on the day at $27,960, <a href="https://coinmarketcap.com/">according to CoinMarketCap</a>. Other large tokens including <a href="https://markets.businessinsider.com/currencies/eth-usd">ether</a>, <a href="https://markets.businessinsider.com/currencies/ada-usd">cardano</a>, <a href="https://markets.businessinsider.com/currencies/sol-sol">solana</a>, and <a href="https://markets.businessinsider.com/currencies/usd-doge">dogecoin</a> cratered. Ether, the second-largest <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> coin by market cap, lost nearly 20% to trade around $1,896, while <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> and <keyword id="5294933" type="UNKNOWN" weightage="60" keywordseo="cardano" source="Orion">cardano</keyword> both fell by 31%, and meme crypto <keyword id="11955065" type="UNKNOWN" weightage="60" keywordseo="dogecoin" source="Orion">dogecoin</keyword> dropped 28%."The entire crypto market is crumbling like a house of cards," Alex Kuptsikevich, the FxPro senior market analyst said. The sharp sell-off comes after major stablecoin, <a href="https://markets.businessinsider.com/news/currencies/terra-terrausd-luna-ust-stablecoin-plunge-do-kwon-death-spiral-2022-5">TerraUSD</a>, which is supposed to be fixed at $1, lost its peg to the dollar completely on Wednesday and fell to a low of around $0.30. It was last at $0.60, according to CoinMarketCap, up 24%. Its sister cryptocurrency luna also tanked more than 97% in what analysts termed a "death spiral" that could threaten the confidence in TerraUSD entirely. <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-today-below-30000-investors-shun-risky-assets-2022-5">Bitcoin</a> meanwhile is now 60% below the record high of $69,000 that it reached last November. Its market value was subsequently punctured, falling below $600 billion from almost double that just six months ago. The crypto market has weakened dramatically in recent weeks, as red-hot inflation has prompted the Federal Reserve to wind down the ultra-easy monetary policy that it put in place to protect the economy during the pandemic.As the era of super-low interest rates has come to an end, especially in light of inflation at 40-year highs, bond yields have surged, equities and other risk assets have tumbled, and investors are now assessing the likelihood that the US economy could enter recession in the coming 24 months. According to CoinMarketCap, the crypto market as a whole has lost over $500 billion in value in the last week alone. As the <a href="https://www.businessinsider.com/fed-raises-interest-rates-may-double-sized-hike-mortgages-loans-2022-5?utm_medium=ingest&amp;utm_source=markets">Fed</a> has raised interest rates to curb sky-high inflation, the crypto market, along with stocks and bonds, has taken a large hit. After stronger-than-expected inflation on Wednesday, the Nasdaq lost 3%, while the S&amp;P 500 market its fourth loss in five sessions. Central bankers and regulators alike have expressed reservations about the stability and transparency of the crypto market. Indeed, the Fed's <a href="https://www.federalreserve.gov/publications/files/financial-stability-report-20220509.pdf">semi-annual Financial Stability Report on Wednesday</a> highlighted the risks of trading stablecoins.US Treasury Secretary Janet Yellen reiterated the need to regulate stablecoins at a Senate Banking Committee meeting on Tuesday. "I think that simply illustrates that this is a rapidly growing product and that there are risks to financial stability," she said.

Bitcoin, ether, cardano along with other tokens crash in a crypto bloodbath, as investor angst over high-risk assets intensifies

Bitcoin, Ethereum, Cardano and others gain on ‘dip buying’

<ul><li><keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword>’s gas fees can move from a few dollars to a few hundreds in a matter of seconds.</li><li>According to an analyst at <keyword id="44660" type="General" weightage="20" keywordseo="jpmorgan" source="Orion">JPMorgan</keyword>, Ethereum might be losing out to competitors like <keyword id="5294933" type="General" weightage="20" keywordseo="cardano" source="Orion">Cardano</keyword> and <keyword id="1905050" type="General" weightage="20" keywordseo="solana" source="Orion">Solana</keyword> already.</li><li>Ethereum’s valuation has dropped by $200 billion in less than six months.</li></ul>Ethereum’s high gas fee has been a concern for many, and is a key hurdle in the platform’s scaling ability. Now, investment bank JPMorgan has said that the platform is losing ground to rivals like Solana in the non-fungible token (NFT) sector due to these high gas fees. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> Gas fees is the fee paid to miners for validating a transaction on the Ethereum network. It is known to be as volatile as the price of Ether itself, and can add hundreds of dollars to the cost of a transaction. At the time of writing, the gas fee was averaging at around $6, but the value has been known to jump to over $150 quite often since it depends on the traffic on the network. "It looks like, similar to <keyword id="12997000" type="General" weightage="20" keywordseo="defi-apps" source="Orion">DeFi apps</keyword>, congestion and high gas fees has been inducing NFT applications to use other blockchains,” <a href="https://markets.businessinsider.com/news/currencies/ethereum-eth-killers-nfts-defi-solana-cardano-wax-crypto-investing-2022-1">said</a> JPMorgan analyst Nikolaos Panigirtzoglou, in a note. “If the loss of its NFT share starts looking more sustained in 2022, that would become a bigger problem for ethereum's valuation," he added. Panigirtzoglou isn’t the only one who feels this way either. To be sure, Ethereum’s market capitalization has dropped from a massive $568 billion in August 2021 to around $373 billion today, according to data from <a href="https://coinmarketcap.com/currencies/ethereum/">Coinmarketcap</a>. <cmsannotation type="cmsannotation" annotationid="NFT market scaling fast" comment="subhead" text="NFT market scaling fast">NFT market scaling fast</cmsannotation> On the other hand, the market for <keyword id="902592" type="General" weightage="20" keywordseo="nfts" source="Orion">NFTs</keyword> and decentralised applications (Dapps) have been scaling at a breakneck pace. For instance, NFT marketplace OpenSea was <a href="https://www.bbc.com/news/technology-59880739">valued</a> at a massive $13 billion earlier this month, when the company raised $300 million. At the time, the company said that trades on the platform grew by 600 times over 2021. NFT projects like Bored Ape Yacht Club (BAYC) and Cryptopunks are other examples of billion dollar NFT projects and how fast the industry has been growing. This is where the scaling problem comes in, since many or even most NFT projects are built on the Ethereum network and its smart contracts feature. And with more NFT transactions, the load on the Ethereum network keeps growing too. <cmsannotation type="cmsannotation" annotationid="Solving the problem" comment="subhead" text="Solving the problem">Solving the problem</cmsannotation> To be fair, Ethereum’s developers are well aware of the problem too. In August 2021, right around the time when Ethereum had hit its $500-plus billion market cap, the platform saw an an update called the London Hard Fork, which was the first big step towards moving to the second generation of the network — Ethereum 2.0. With the London Hard Fork, the platform introduced the ‘proof-of-stake’ system, which is meant to reduce the overall gas fees and its volatile nature. The problem is that Ethereum 2.0 will still take at least a few months to kick in and no concrete date has been set just yet. With Cardano and Solana already based on the same proof-of-stake system, experts like JPMorgan are concerned that developers will migrate to these competing platforms rather than depending on Ethereum for too long. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/cardano-jumps-on-the-metaverse-bandwagon-with-pavia-heres-everything-you-need-to-know-about-adas-entry-into-play-to-earn/articleshow/89012262.cms">Cardano jumps on the metaverse bandwagon with Pavia — here’s everything you need to know about ADA’s entry into play-to-earn</a> <a href="https://www.businessinsider.in/investment/news/coindcx-hiring-2000-plus-people-this-year-crypto-coders-developers-product-development-and-other-roles/articleshow/88972086.cms">EXCLUSIVE: CoinDCX plans to hire more than 2,000 people this year — and they are not just looking at coders</a> <a href="https://www.businessinsider.in/investment/news/one-of-the-largest-cryptocurrency-swapping-platforms-just-lost-1-3-million-as-users-failed-to-update-approvals/articleshow/88992186.cms">One of the largest cryptocurrency swapping platforms just lost $1.3 million as users failed to update approvals</a>

Ethereum may not have too long to get its high gas fee issue in check, according to JPMorgan

<ul><li><keyword id="5294933" type="General" weightage="20" keywordseo="cardano" source="Orion">Cardano</keyword>’s Alonzo upgrade introduces smart contracts to the network and makes it more useful.</li><li>The ADA token has become over 100% more valuable over the past month.</li><li>The Alonzo upgrade has made Cardano the direct competitor for <keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword>.</li></ul>Two days after Bitcoin produced its 700,000th block amidst much fanfare, another important cryptocurrency has announced a milestone. ‘<keyword id="11993734" type="General" weightage="20" keywordseo="ethereum-killer" source="Orion">Ethereum killer</keyword>’ Cardano revealed that it has successfully rolled out the scheduled <a href="https://www.businessinsider.in/cryptocurrency/news/after-ethereum-cardano-update-alonzo-hard-fork-will-create-new-use-cases/articleshow/85592973.cms">Alonzo upgrade</a>, which introduces the much awaited ‘smart contracts’ feature — the same feature which allows for non-fungible tokens (<keyword id="902592" type="General" weightage="20" keywordseo="nfts" source="Orion">NFTs</keyword>). But the creators of the platform have warned that the first use cases may not be seen for years to come. <div type="twitter" handle="CardanoStiftung" handlename="Cardano Foundation" image="http://pbs.twimg.com/profile_images/1409583952189267992/3d-5joMC_normal.jpg" favoritecount="3532" retweetcount="730" status="&quot;The Alonzo upgrade will bring highly anticipated capabilities to Cardano... this is where the mission truly begins… https://t.co/yd6EG1tpoB" createdat="1631467052000" id="1437103093632622597"></div> The update puts Cardano in direct competition with Ethereum, giving it more flexibility in terms of applications like non-fungible tokens (<a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">NFTs</a>), automated lending and more. Like Ethereum, the Cardano blockchain is also based on the proof-of-stake system, which requires miners to put up their own stake of crypto. Only those with the largest stake will be rewarded for their services. It reduces the overall computing power required for mining on a public blockchain and hence is more environmentally sound. <cmsannotation type="cmsannotation" annotationid="The third largest cryptocurrency in the world" comment="subhead" text="The third largest cryptocurrency in the world">The third largest cryptocurrency in the world</cmsannotation> To be fair, <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">Ethereum</a> still leads Cardano in terms of overall market capitalisation. On September 12, Cardano had a market cap of around $82 billion against Ethereum’s whopping $400 billion market cap. However, Cardano has risen from being the simple underdog to being among the top five cryptocurrencies in the world in terms of market cap. It is currently placed in third position, behind Bitcoin and Ethereum. <cmsannotation type="cmsannotation" annotationid="Ethereum’s London Hard Fork" comment="subhead" text="Ethereum’s London Hard Fork">Ethereum’s London Hard Fork</cmsannotation> Ethereum’s <a href="https://www.businessinsider.in/investment/news/ethereum-london-upgrade-is-taking-place-today-heres-what-could-happen-after-the-update/articleshow/85065884.cms">London Hard Fork</a> rolled out on August 5 and is seen as the first step towards ‘version 2.0’ of the platform, which will arrive next year. The new system moves the Ethereum blockchain towards the proof-of-stake system like Cardano and reduces not only its environmental footprint but also the <a href="https://www.businessinsider.in/cryptocurrency/news/ethreums-update-has-boosted-ethers-price-but-the-cryptocurrencys-main-problem-is-yet-to-be-solved/articleshow/85269874.cms">transaction fees</a> required on the network. Ether’s price — the cryptocurrency which fuels the Ethereum blockchain — has risen from around $2,700 on August 5 to $3,200 on September 12, whereas Cardano’s price remains around the $2 mark. “It’s only just the beginning. But this is still a moment for celebration. As a community, we have been on an incredible journey together. Rightly, we should allow ourselves to acknowledge the tremendous efforts made by so many to get here. This will also be a time for reflection on the challenges we've collectively overcome,” <a href="https://iohk.io/en/blog/posts/2021/09/12/today-will-feel-like-a-destination-yet-a-new-exciting-journey-begins/">wrote</a> Tim Harrison, Marketing and Communications Director of Input Output Global, the creators of Cardano, in a blog post. <cmsannotation type="cmsannotation" annotationid="Cardano’s recent highs" comment="subhead" text="Cardano’s recent highs">Cardano’s recent highs</cmsannotation> While Cardano’s price may be a fraction of what Ethereum costs right now, the cryptocurrency has been reaching its own highs. The market cap for ADA, Cardano’s native token, has almost doubled over the past month. On August 31, the token <a href="https://economictimes.indiatimes.com/markets/cryptocurrency/cardano-returns-150-in-a-month-to-become-the-third-largest-cryptocurrency/articleshow/85617141.cms?from=mdr">defied</a> crash predictions to rise to an all time high of $2.56 — providing investors with over 150% returns. As mentioned before, introducing smart contracts makes the Cardano blockchain more flexible and useful, which in turn means it will have more usage. Which is one of the main reasons why many in the blockchain and DeFi world picked Ethereum over Bitcoin in the first place. Harrison warned that while the expectations from Alonzo are high, some may be unreasonable. “Cardano watchers may be expecting a sophisticated ecosystem of consumer-ready DApps available immediately after the upgrade. Expectations need to be managed here. We should remember that another well-known blockchain project which launched in July 2015 had to wait over two years before its first DApp (something to do with cats?) gained real user traction,” he wrote, referencing Cryptokitties, which was the first DApp built on the Ethereum blockchain. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/some-early-crypto-enthusiasts-have-bailed-on-the-sector-saying-the-movement-has-bought-into-hype-without-understanding-the-technologys-limits/articleshow/86118146.cms">Some early crypto enthusiasts have bailed on the sector, saying the movement has bought into hype without understanding the technology's limits</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/the-surge-in-altcoins-looks-unsustainable-and-has-echoes-of-the-run-up-to-mays-crypto-crash-jpmorgans-bitcoin-expert-says/articleshow/86138062.cms">The surge in altcoins looks unsustainable and has echoes of the run-up to May's crypto crash, JPMorgan's bitcoin expert says</a>

Cardano can now mint NFTs, run DApps and more — but the creators themselves are asking people to keep their expectations in check

<ul><li>Cryptocurrencies are increasingly moving to or using the proof-of-stake protocol for mining, and hence there’s a new concept emerging.</li><li>PoS systems are largely considered to be the future of crypto consensus mechanisms.</li><li>Staking also keeps miners honest.</li></ul>Those who joined the crypto bandwagon early on have it good today, and their riches have brought in more users over time. But with more users, the price of crypto rises, and so does the amount of computing power that miners put into validating transactions and creating new cryptocurrencies. At the time of writing, the prices of Bitcoin and Ether were above ₹32 lakh and ₹2 lakh, respectively, on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a>, India’s largest crypto exchange by trading volumes. But all this computing power is generated using electricity, which is most often generated using fossil fuels that impact the environment. To mitigate that, proof-of-stake (PoS) was introduced, which is a system of mining cryptocurrencies that reduces the overall impact crypto mining has on the Earth’s climate. And under proof-of-stake, comes a new concept called staking. <cmsannotation type="cmsannotation" annotationid="What is staking?" comment="subhead" text="What is staking?">What is staking?</cmsannotation> In the traditional trading space, staking would probably mean loaning someone money to buy stocks. In crypto, however, the term refers to putting up one’s own cryptos, in order to earn the right to get a share of the rewards that come from mining cryptos. You see, the way PoS reduces crypto’s carbon footprint is by reducing the overall number of miners who will be rewarded for lending their computing power to a blockchain platform. And it does so by looking at the total amount of stake that miners put up. Essentially, in a PoS system, the platform can allow an infinite number of validators to join the system, but only the largest stake providers will have the chance to earn a reward from validating a transaction. And even amongst the largest stake providers, only the ones who are the fastest will win, meaning the need to provide all of one’s computing power is reduced, along with the total electricity required. <cmsannotation type="cmsannotation" annotationid="How does staking work?" comment="subhead" text="How does staking work?">How does staking work?</cmsannotation> As mentioned above, the more tokens a miner pledges, the better their chances of being rewarded with cryptocurrencies. The tokens the miner puts up still belong to you, the blockchain protocol simply holds them in order to determine the miner’s rank amongst all the stakeholders in the system. The miner can choose to increase or reduce their stake at any given time. The stake a miner puts up is also a guarantee of sorts from the miner that they won’t make mistakes in their job. In some protocols, the platform can cut a part of the miner’s stake if they make mistakes. Miners who are dishonest or not performing can also be penalized for the same by cutting their stake, and the process is known as “slashing”. <cmsannotation type="cmsannotation" annotationid="How to stake your own crypto" comment="subhead" text="How to stake your own crypto">How to stake your own crypto</cmsannotation> The concept of staking isn’t available in all blockchain platforms, only the ones that use the PoS system. Which means that a miner can’t suddenly put up a stake on the Bitcoin protocol because it’s based on the proof-of-work system. At the moment, the most popular PoS systems in the world are <keyword id="5294933" type="General" weightage="80" keywordseo="cardano" source="Orion">Cardano</keyword>, Polkadot, Solana, BSC (formerly <keyword id="12416176" type="General" weightage="80" keywordseo="binance-smart-chain" source="Orion">Binance Smart Chain</keyword>), and soon <keyword id="2810876" type="General" weightage="80" keywordseo="ethereum" source="Orion">Ethereum</keyword> too. Ethereum currently has both PoS and PoW systems but will move to the PoW system completely when the Ethereum 2.0 platform rolls out. Each platform will have its own rules for staking, so miners will need to learn what these rules are, and how slashing will work as well. These should be available on the platform’s whitepaper and website. To start putting up their own stake, miners will need to first buy the required cryptocurrency from an exchange that sells it. While not a lot of mining happens from India, if it did, a miner would likely go to an exchange like WazirX to buy Cardano to put up a stake on the Cardano protocol. They will have to transfer the tokens from the exchange to their own wallet as well. The stake is created by transferring the requisite tokens from the miner’s wallet to the staking pool that a protocol maintains where <keyword id="6536297" type="General" weightage="80" keywordseo="stakes" source="Orion">stakes</keyword> from all the miners in the system are combined. Here’s a quick look at the advantages and disadvantages of <keyword id="12196432" type="General" weightage="20" keywordseo="crypto-staking" source="Orion">crypto staking</keyword>. Pros: <ul><li>Allows long term asset holders to make their crypto holdings work for them </li><li>Reduces computing power and environmental validity of blockchain platforms </li><li>Increases security of crypto projects and makes them more resilient to 51% attacks </li></ul>Cons: <ul><li>Stakes tokens are often ‘locked’, meaning they can’t be traded or used for anything else </li><li>Taking staked coins out of the staking pools can take up to a week at times </li><li>The platform can penalise validators by cutting staked tokens if a mistake is made</li></ul> Disclaimer: This is a sponsored post in partnership with WazirX. Cryptos are unregulated virtual assets, not a legal tender, and subject to market risks.

All you need to know about crypto staking and why people are jumping on this bandwagon

<ul class="summary-list"><li>President Joe Biden has finally signed a long-awaited executive order on <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword>.</li><li>It wasn't the crackdown many in <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> had feared, and many liked it a lot. But there were some question marks.</li></ul>President Joe Biden has finally signed his long-awaited executive order on cryptocurrencies — and it's not the crackdown many in the community had feared.For months, the Biden administration has been warning it would step up crypto market scrutiny, putting the industry on tenterhooks.But when the <a href="https://markets.businessinsider.com/news/currencies/biden-crypto-executive-order-digital-dollar-cbdc-bitcoin-congress-2022-3">whole-of-government strategy was revealed</a> Wednesday, it didn't promise any regulations for the sector. Instead, it <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/">laid out policy priorities</a> for digital assets and tried to tackle the lack of a regulatory framework for crypto, by unifying oversight across federal agencies.It was widely welcomed in the crypto community. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> jumped to top $42,000 Wednesday after Treasury Secretary<a href="https://markets.businessinsider.com/news/currencies/bitcoin-blockchain-crypto-markets-technology-prices-america-regulation-biden-yellen-2022-3"> Janet Yellen's office accidentally leaked details</a> of the order.But while Gemini co-founder Cameron Winklevoss <a href="https://twitter.com/cameron/status/1501591825659822080">called the order a "watershed moment</a>," not everyone was fully convinced. Here's what Sam Bankman-Fried, Mike Novogratz and other leading voices in crypto had to say about it.<h3><a href="https://markets.businessinsider.com/news/currencies/sam-bankman-fried-ftx-crypto-exchange-valuation-billionaire-bitcoin-ethereum-2022-2?utm_medium=ingest&amp;utm_source=markets">Crypto billionaire</a> Sam Bankman-Fried</h3>"I don't think it moves the needle that much from where we were before. I think it's more just a reflection of where the administration is than anything else," the CEO of crypto exchange FTX <a href="https://www.cnbc.com/video/2022/03/09/this-executive-order-is-just-a-reflection-of-where-the-administration-is-says-ftxs-bankman-fried.html">told CNBC</a>."Which is to say: There isn't a lot of conclusiveness about where this will end up." <h3>Antoni Trenchev, managing partner at crypto lender Nexo</h3>"If there ever were any remaining risks of an international or US-led crackdown on crypto, those are gone," he <a href="https://twitter.com/CNBCMiddleEast/status/1501807574882021377">told CNBC</a>.<h3><a href="https://markets.businessinsider.com/news/currencies/shark-tank-kevin-oleary-crypto-ethereum-bitcoin-solana-venture-capital-2022-3">'Shark Tank' investor</a> Kevin O'Leary</h3>"The @POTUS executive order is a direct shot over the bow of public #Bitcoin mining companies. There is now an Initiative to audit the carboneutrality of these miners," the crypto investor <a href="https://mobile.twitter.com/kevinolearytv/status/1502254965351460865">said in a tweet</a>. "Carbon credits are un-auditable so it will end badly for these stocks. I sold them all!"<h3>Jake Chervinsky, head of policy at the Blockchain Association</h3>"The main concern was that the EO might force rushed rulemaking or impose new &amp; bad restrictions, but there's nothing like that here. It's about as good as we could ask," <a href="https://twitter.com/jchervinsky/status/1501590214539726857">he tweeted</a>."One feature of the EO that I can't figure out: it doesn't mention tax policy once. That's pretty weird, given how many tax issues are unresolved," he <a href="https://twitter.com/jchervinsky/status/1501671561144807429">added</a>.<h3>Anthony Scaramucci, founder of Skybridge Capital</h3>"This day and October 6 of last year were the two seminal days for the American government, as it relates to cryptocurrency. October 6 we got the <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> futures, and today we are being told by our government that frankly bitcoin is here to stay, and there will be responsible innovation that will be regulated by the government," <a href="https://www.cnbc.com/video/2022/03/09/youre-starting-to-see-institutions-revisit-that-they-need-a-crypto-strategy-says-anthony-scaramucci.html">he told CNBC</a>."And so you're seeing a lot of short covering today, and you're now starting to see institutions revisit the idea that they need a crypto strategy."<h3>Galaxy Digital founder Mike Novogratz</h3>"Crypto and public blockchains will reshape the world in ways we can't imagine. The Executive Order is welcomed engagement from the administration," the billionaire crypto investor <a href="https://twitter.com/novogratz/status/1502026453445136392">tweeted</a>."The window for US leadership in the global cryptoeconomy is now."<h3>CoinShares' chief strategy officer, Meltem Demirors</h3>"There are 46 million Americans who own cryptocurrency. The government needs to stop treating them as criminals. Biden's Executive Order was overly negative in tone in my opinion," she said <a href="https://twitter.com/Melt_Dem/status/1501906611027296261">on Twitter</a>."The EO dedicated several pages to CBDCs, i.e. the idea of a digital dollar, but made little mention of bitcoin, <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword>, or public blockchain networks which are the backbone of crypto culture. SAD."<h3>Anthony Pompliano, co-founder of Morgan Creek Digital</h3>"The United States just publicly said they want to be the leader in bitcoin and cryptocurrencies," he <a href="https://twitter.com/APompliano/status/1501555023024734222">posted on Twitter</a>. "The global competition is underway."

Sam Bankman-Fried says Biden's crypto order won't move the needle, but Cameron Winklevoss calls it a watershed. Here are the 8 top reaction quotes from crypto players.

Battle of the crypto coins!

<ul><li><keyword id="5294933" type="General" weightage="20" keywordseo="cardano" source="Orion">Cardano</keyword>’s prices have more than doubled over the last 30 days.</li><li>Within the last 24 hours, the cryptocurrency’s price has jumped by over 11%.</li><li>The surge comes amid anticipation of the <keyword id="11937815" type="General" weightage="20" keywordseo="alonzo-hard-fork" source="Orion">Alonzo hard fork</keyword>, an update that will take Cardano to the next stage.</li></ul>The Cardano cryptocurrency may not get as much time in the limelight as <keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword> or Bitcoin does, but it’s still a popular <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">crypto token</a> amongst investors. It recently became the world’s <a href="https://www.businessinsider.in/cryptocurrency/news/cardano-is-hitting-new-high-as-investors-are-confident-about-its-upcoming-smart-contract-system-alonzo/articleshow/85486235.cms">third most valuable cryptocurrency</a> with an upcoming update on the cards called the Alonzo Hard Fork. The public blockchain platform is based on a proof-of-stake system. This is where miners have to put up the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">cryptocurrency</a> they already own as ‘stake’ in order to validate a transaction. The more tokens they have, the more likely they are to win the auction. Ethereum, the world’s second largest cryptocurrency by value, is in the midst of its transition from proof-of-work to proof-of-stake. And this, according to many in the crypto community, makes it Cardano’s direct competitor. However, Cardano is no slouch either — the new update scheduled for next month will put it head-to-head against Ethereum in its own kingdom, the space of decentralised finance (DeFi) and smart contracts. The update will allow Cardano to mint non-fungible tokens (NFTs), automate lending and bring in other use cases. <cmsannotation type="cmsannotation" annotationid="Cardano is the world’s third most valuable cryptocurrency" comment="subhead" text="Cardano is the world’s third most valuable cryptocurrency">Cardano is the world’s third most valuable cryptocurrency</cmsannotation> The Cardano cryptocurrency has recaptured the interest of investors over the last two days. After becoming the world’s third most valuable cryptocurrency last week, the price of the currency grew by around 11% in the 24 hours leading up to August 23. Coinmarketcap <a href="https://coinmarketcap.com/currencies/cardano/">shows</a> an upward trend of about 2% since then. Cardano is currency priced at $2.89, with a market capitalization of over $90 billion. <cmsannotation type="cmsannotation" annotationid="Why are Cardano’s prices increasing?" comment="subhead" text="Why are Cardano’s prices increasing?">Why are Cardano’s prices increasing?</cmsannotation> The hike in prices is presumably because of upcoming updates to the network. Cardano’s prices more than doubled in the last one month. Dubbed the ‘Alonzo Hard Fork’, it is the third major update in Cardano’s Shelly era. The token has five main stages of development, often called “eras” — Byron, Shelley, Goguen, Basho, Voltaire — all of which will enhance the overall network’s functionalities. Alonzo is the last major update for the Shelley era and moves the platform towards the Goguen era. The crypto token is also going to be listed on Japanese crypto exchanges, which are considered to have some of the most stringent listing requirements in the world. “In addition to general bullish sentiment in the cryptocurrency space, Cardano is also enjoying positive momentum ahead of Ada's listing on Japanese cryptocurrency exchanges, which is set to take place Aug. 25. Ada also appears to be generating excitement ahead of a pending update that will roll out in September and pave the way for smart contracts on the Cardano blockchain,” The Motley Fool <a href="https://www.fool.com/investing/2021/08/23/heres-why-cardano-is-up-big-today/">reported</a> earlier. <cmsannotation type="cmsannotation" annotationid="What is Cardano’s Alonzo Hard Fork?" comment="subhead" text="What is Cardano’s Alonzo Hard Fork?">What is Cardano’s Alonzo Hard Fork?</cmsannotation> The Alonzo update itself is broken into three phases, Blue, White and Purple. They will be followed by Alonzo Red and Alonzo Black, which will add more users to the networks and fix any bugs. Alonzo Blue will introduce smart contracts to the network, similar to those on the Ethereum network. Smart contracts are algorithmically driven contracts, where the terms of the agreement are directly converted into code. As a result, these agreements can be defined over a blockchain network and their execution and transactions can be tracked by the platform. This means that Cardano can now be used to mint non-fungible tokens (NFTs), which have been gaining popularity during the pandemic era. <a href="https://www.businessinsider.in/cryptocurrency/news/nft-platform-opensea-tops-1-5-billion-in-30-day-trading-volumes/articleshow/85559973.cms">OpenSea</a>, the world’s largest <keyword id="4668945" type="General" weightage="20" keywordseo="nft" source="Orion">NFT</keyword> platform, saw $1.5 billion in trading volumes over the last one month. Decentralised finance (DeFi), automated lending and other use cases will also be able to build around Cardano. The second phase, Alonzo White, is basically an expansion of Alonzo Blue. The platform will take the features introduced in the previous update to more users and continue testing them. The third phase, Alonzo Purple, is the final public test which will see thousands of participants come onboard the network. The Purple stage is split into ‘light purple’ and ‘dark purple’ phases, which will increase the complexity of the smart contracts. The new update is likely to land on September 12. Often called the ‘ethereum killer’, Cardano has very few use cases right now. The new update, the Alonzo Hard Fork, will hopefully tip the balance in the cryptocurrency’s favour. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-mining-in-iran-easing-but-china-maintain-strict-stance/articleshow/85588848.cms">Iran is bringing back cryptocurrency mining, but China shows no signs of changing its mind</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/nft-platform-opensea-tops-1-5-billion-in-30-day-trading-volumes/articleshow/85559973.cms">NFT platform OpenSea tops $1.5 billion in 30-day trading volumes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/google-bans-eight-dangerous-crypto-apps-find-out-if-you-have-them-on-your-phone/articleshow/85553621.cms">Google bans eight dangerous crypto apps – find out if you have them on your phone</a>

After Ethereum, Cardano is set to get an update — and here's how that will change things for the cryptocurrency

<ul class="summary-list"><li>Cryptocurrencies sank Monday, helping drag the total market's value down by $400 billion in the last week.</li><li><keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">Bitcoin</keyword> and <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> both hit lows not seen since July as cryptos tracked the slump in stocks.</li><li><keyword id="11961769" type="UNKNOWN" weightage="60" keywordseo="altcoins" source="Orion">Altcoins</keyword> are suffering even more, with <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword> down 40% in the last seven days after another outage.</li></ul><ul class="summary-list"></ul>Cryptocurrency prices slid Monday, after $350 billion was wiped off the value of the total market at the weekend, as the prospect of an aggressive Federal Reserve kept jitters alive.Leading digital currency <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> fell almost 6% in the last 24 hours to $33,561, more than 50% down from its November record high of $68,790, according to CoinMarketCap data. <a href="https://markets.businessinsider.com/currencies/eth-usd?utm_medium=ingest&amp;utm_source=markets">Ethereum</a> suffered heavier losses of more than 10%, dropping to $2,219.Over the weekend, the overall cryptocurrency market shed $350 billion in value, bringing its decline over the last seven days to $400 billion. It is now worth around $1.60 trillion, after peaking at close to $3 trillion in mid-November, according to CoinMarketCap. Cryptocurrencies suffered big declines last week as they followed stock <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> lower, buffeted by concerns about the prospect of a series of interest-rate hikes by the Federal Reserve this year. Bitcoin and ethereum dropped 22% and 32% respectively over the last seven days.Higher rates tend to weigh on more speculative assets, as investors are more likely to put their cash into areas of the market that they perceive to be less risky."I am sure the techno sophisticates, the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> bros, and the early Meta adopters wandering around in headsets wondering where everyone else is will try to re-boot, but this looks like a crash for now, even before we get to regulatory blue screens of death," Michael Every, global strategist at Rabobank, said in a note.Altcoins have seen more severe falls than the leading coins. <a href="https://markets.businessinsider.com/currencies/ada-usd">Cardano</a> dropped 13% over the last 24 hours to $0.97, and it has lost 36% over the last seven days. Meanwhile, <a href="https://markets.businessinsider.com/currencies/sol-sol">solana</a> shed 18% to reach $83.12 and logged a weekly loss of 42%. These so-called "ethereum killers" made gains in 2021, as <a href="https://markets.businessinsider.com/news/currencies/ethereum-eth-killers-nfts-defi-solana-cardano-wax-crypto-investing-2022-1">some analysts</a> said ethereum was losing ground to them as a basis for decentralized finance, or DeFi, applications. But the gains have been wiped out in this latest crash.Solana's price tumbled as its reputation took a hit, after its network suffered its second outage in January over the weekend. Crypto prices have followed the decline in stocks throughout January. Concerns around interest-rate hikes from the Fed and rising levels of inflation have sent shivers through the markets, with the S&amp;P 500 down almost 10% year to date and the tech-heavy Nasdaq entering correction territory.Investors are bracing for the Fed's policy meeting on Wednesday to learn whether the central bank plans to get even more aggressive than the four interest-rate hikes the market expects this year, as it tackles red-hot levels of inflation. The crypto crash could see famous bitcoin supporters lose out, with the likes of NFL stars Odel Beckham Jr. and Aaron Rodgers' decision to take half of their salaries in bitcoin coming under renewed scrutiny.Not all crypto enthusiasts appear worried, and noted bitcoin bull and Galaxy Digital boss <keyword id="12047041" type="UNKNOWN" weightage="60" keywordseo="mike-novogratz" source="Orion">Mike Novogratz</keyword> took to <a href="https://twitter.com/novogratz/status/1484865001169031178?s=20">Twitter</a> to point out past patterns in reassurance.

Crypto market shrinks after another $350 billion gets wiped out over the weekend, with bitcoin at a 6-month low

<ul class="summary-list"><li>Bitcoin tumbled to a six-month low below $38,000 on Friday, as a broad <keyword id="13003003" type="UNKNOWN" weightage="60" keywordseo="crypto-sell-off" source="Orion">crypto sell-off</keyword> intensified.</li><li>Investors have dumped both cryptocurrencies and tech stocks as they prepare for the Fed to hike interest rates in 2022.</li></ul><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> plunged as much as 10% to a six-month low below $38,000 on Friday as cryptocurrencies dropped across the board, following tech stocks lower.Bitcoin was down 9% to $38,274 on the Coinbase exchange as of 9.05 a.m. ET. It had earlier fallen to $37,704, the lowest price since late July and early August 2021, before paring some of its losses.The biggest and oldest cryptocurrency has slumped more than 20% over the last month to stand far below November's record high of close to $69,000.Meanwhile, <a href="https://markets.businessinsider.com/currencies/eth-usd">ethereum</a> was down 12.4% to $2,788 Friday. It has fallen 30% over the last month, down sharply from a record high of close to $5,000 in November.Investors have been rapidly selling both cryptocurrencies and speculative technology stocks in anticipation of the Fed withdrawing its support for <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> and the economy in 2022. Traders think the central bank will <a href="https://markets.businessinsider.com/news/stocks/federal-reserve-interest-rate-outlook-balance-sheet-reduction-goldman-sachs-2022-1">raise rates four times</a> this year, an expectation that has rapidly pushed up <a href="https://markets.businessinsider.com/rates/U-S--Rates-10-Years">bond yields</a>.Higher bond yields have in turn made <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> and unprofitable tech companies <a href="https://markets.businessinsider.com/news/stocks/why-are-tech-stocks-falling-explained-federal-reserve-interest-rates-2022-1">look unattractive</a>, given that neither offer yields of their own. Instead, investors have pivoted towards so-called value stocks in sectors such as energy and finance that are more closely linked to the health of the economy."Bitcoin is getting pummeled, hit by another wave of risk aversion in the markets," said Craig Erlam, senior market analyst at trading platform Oanda. "It doesn't look good for the cryptocurrency."Naeem Aslam, chief market analyst at AvaTrade, said: "From the technical price perspective, the <keyword id="11893206" type="UNKNOWN" weightage="60" keywordseo="bitcoin-price" source="Orion">bitcoin price</keyword> has violated the key support level of $40,000, which was already tested a few times before. "Now all eyes are on the next two important price levels: $35,000 and the most important one is $30,000."Read more: <a href="https://www.businessinsider.com/trades-fed-rate-hikes-inflation-volatility-stock-crypto-options-strategies-2022-1?r=US&amp;IR=T">A 21-year veteran trader breaks down an options trade designed to help investors 'sustain risks long enough to see the light of profitability' — and explains why bitcoin could continue to move in tandem with tech stocks</a>Thursday's proposal by Russia's central bank <a href="https://markets.businessinsider.com/news/currencies/russia-central-bank-crypto-ban-activity-mining-trading-bitcoin-2022-1">to outlaw</a> the mining and trading of cryptocurrencies was another factor weighing on prices, analysts said.The broad cryptocurrency complex was a sea of red Friday. Binance coin, the third-biggest token, was down 11%; cardano was 13% lower; and solana had dropped 15%.Even bitcoin bulls have become concerned about the impact of Fed policy and bond yields on the <keyword id="11909331" type="UNKNOWN" weightage="60" keywordseo="crypto-market" source="Orion">crypto market</keyword>.Galaxy Digital founder and crypto billionaire Mike Novogratz <a href="https://markets.businessinsider.com/news/currencies/mike-novogratz-crypto-billionaire-investor-bitcoin-ethereum-price-bond-yields-2022-1">said this week</a>: "As long as rates go higher, we will see pressure on Nasdaq and crypto." SkyBridge Capital boss Anthony Scaramucci has said his investment firm <a href="https://markets.businessinsider.com/news/currencies/anthony-scaramucci-skybridge-investor-bitcoin-price-outlook-dip-volatility-2022-1">is not buying the dip</a> this time around, despite recommending it in the past.However, Aslam said investors are likely to buy into the weakness at some point, with many seeing digital assets as the currencies of the future."Smart money and other institutions are certainly going to take advantage of the current price action, and they are likely to bag some great bargain."

You Searched For "ethereum vs cardano" and got 12 results

Cardano (ADA): The Ethereum killer

Business Insider India

Ethereum, Solana, Cardano

Business Insider India

Bitcoin, ether, cardano along with other tokens crash in a crypto bloodbath, as investor angst over high-risk assets intensifies

Zahra Tayeb

Bitcoin, Ethereum, Cardano and others gain on ‘dip buying’

BI India Bureau

Ethereum may not have too long to get its high gas fee issue in check, according to JPMorgan

BI India Bureau

Cardano can now mint NFTs, run DApps and more — but the creators themselves are asking people to keep their expectations in check

BI India Bureau

All you need to know about crypto staking and why people are jumping on this bandwagon

Insider Studios

Sam Bankman-Fried says Biden's crypto order won't move the needle, but Cameron Winklevoss calls it a watershed. Here are the 8 top reaction quotes from crypto players.

Adam Morgan McCarthy

Battle of the crypto coins!

BI India Bureau

After Ethereum, Cardano is set to get an update — and here's how that will change things for the cryptocurrency

BI India Bureau

Crypto market shrinks after another $350 billion gets wiped out over the weekend, with bitcoin at a 6-month low

Adam Morgan McCarthy

Bitcoin crashes 10% to a six-month low below $38,000, as cryptocurrencies follow tech stocks lower

Harry Robertson

Popular Keywords

Buying Guides