• The Cardano Forum released its bi-weekly community digest on February 20th, 2023, to keep the community abreast of notable recent events.
• The SECP upgrade has unlocked features that make it easier for developers to build decentralized applications (dApps) that interact with other blockchains.
• Robert Quartly Janeiro hosted a Twitter Space on February 15th to discuss „all things Cardano,“ offering a preview of Cardano’s 2023 priorities.
The Cardano Forum has shared the network’s most notable recent movements in the bi-weekly community digest on February 20th, 2023. The price of ADA is not reflecting the same upward trajectory as other volumes in the ecosystem. Notable events include the launch of SECP upgrade, which unlocks features and improves security for developers building dApps, and Robert Quartly Janeiro’s Twitter Space discussing Cardano’s focus areas for 2023.
The Valentine’s or SECP upgrade was launched on Valentine’s day 2023 by the Cardano network and has unlocked features that make it easier for developers to build decentralized applications (dApps). New cryptographic primitives were introduced which enable multi-signature or threshold signature designs, resulting in improved security according to Input Output Global (IOG). This upgrade fosters secure, reliable, and cost-effective development for cross-chain dApps within the network.
2023 Focus Areas
Robert Quartly Janeiro hosted a Twitter Space on February 15th with guest speaker Sebastian Bode from the Cardano Foundation discussing all things related to Cardano. Bode offered a preview of Cardano’s focus areas for 2023 with interoperability between blockchains being a major topic they are focusing on this year.
Contingent Staking Debate
In response to talk of regulatory enforcement on cryptocurrency staking in the U.S., there is currently an ongoing debate over contingent staking within the Cardano community. While there is some disagreement among members regarding how best to approach this issue, many agree that greater transparency is needed around proof-of-stake protocols and potential risks associated with them before any decisions are made about regulation or enforcement measures moving forward.
Twitter Drama Recap
Despite these developments and debates within the ecosystem, ADA’s price has yet to reflect an upward trajectory like other volumes have seen recently in crypto markets. This may be due in part to some drama surrounding Charles Hoskinson’s tweets about NFTs last week as well as his apparent involvement in an argument between two YouTubers over whether or not EOSIO was technically better than Ethereum 2.0—a controversy which drew criticism from both sides of their respective platforms.
• Ripple is expanding its focus on Central Bank Digital Currencies (CBDCs) with a large practice in Singapore.
• The company has declared CBDCs as a crucial focus for its goals in the coming years and established collaborations with countries including Montenegro, Palau, and Bhutan.
• Ripple’s presence in Singapore has sparked speculation about potential government connections for promoting a CBDC.
Ripple Focusing on Central Bank Digital Currencies
Ripple is focusing on Central Bank Digital Currencies (CBDCs) to expand its services around the world. The company has announced that it will be working closely with smaller governments and central banks to provide holistic solutions related to CBDC initiatives. Ripple has already established collaborations with several countries, including Montenegro, Palau, and the Kingdom of Bhutan.
Ripple Established Practice In Singapore
Recently, Brook Entwistle – Senior Vice President and Managing Director at Ripple – revealed that the company had established a large CBDC practice in Singapore with four people on the ground there. This news sparked speculation about potential government connections between Ripple and Singapore regarding promoting a CBDC.
Interoperability Of CBDCs
Entwistle mentioned how important interoperability will be between different CBDCs around the world as this could benefit many nations. He talked about how Ripple’s technology could play an important role in this regard.
Monetary Authority Of Singapore (MAS)
The Monetary Authority of Singapore (MAS) was also mentioned by Entwistle during his remarks at Crypto Finance Conference held mid-January 2021 as MAS had previously announced plans to develop its own digital currency by 2025 or sooner if possible. He encouraged other governments to take note of Bhutan’s tech-forward King who desired for better ways of moving value around his country which could potentially benefit from Ripple’s technology for establishing a remittance system.
Therefore, it can be seen that Ripple’s focus on Central Bank Digital Currencies (CBDC) could prove beneficial for many nations across the globe in terms of boosting their financial sectors and making them more efficient through interoperable payment systems using blockchain technology offered by Ripple itself or some other similar providers such as VISA etc
• OKX has launched an online campaign to support relief efforts in Türkiye caused by a devastating earthquake.
• Contributions can be made with various cryptocurrencies, including USDT, BTC, ETH, and OKB/OKT.
• OKX is matching contributions up to ₺1 million and working with Paymount to convert the funds into Turkish Lira.
Supporting Earthquake Relief Efforts in Türkiye
The Devastating Earthquake
On February 6, 2023, a 7.8 magnitude earthquake struck southern Türkiye near the border of northern Syria. This was soon followed by an even more powerful 7.5 magnitude earthquake nine hours later and numerous aftershocks that wreaked havoc on the region. The disaster resulted in countless casualties and left many injured and homeless.
The Global Crypto Community Unites
In response to this tragedy, OKX has launched a web campaign to invite individuals from around the world to contribute cryptocurrency donations for relief efforts in Türkiye using USDT (ERC20 & TRC20), BTC, ETH, & OKB/OKT tokens; all of which will be converted into Turkish Lira by Paymount at 4pm GMT daily and sent directly to AHBAP & AFAD organizations for medical aid, food, water, shelter & reconstruction supplies. To further incentivize donations towards these organizations’ cause; OKX will also be matching contributions up to ₺1 million!
Crypto’s Potential Impact on Humanitarian Causes
This initiative highlights the potential for cryptocurrency usage as a viable payment option for humanitarian causes due its fast conversion rates and easy access across countries compared to traditional methods of money transfer or fiduciary currency payments – making it easier for those in dire need of assistance during disasters such as earthquakes.
How Can You Help?
Individuals from all over are invited to contribute cryptocurrency donations through the landing page found on OKX’s website – so if you would like to make a difference today; visit the link below:
Visit Here For More Details On Donations! .
In times of distress & chaos; it is always heartening to see people come together from all corners of the globe – showing solidarity & care beyond boundaries; whether they may be geographical or financial ones! We hope that our small contribution through this initiative will help bring hope back into those affected by this disaster – reminding them that there are people willing go above & beyond other than their immediate neighbors!
• Cardano (ADA) experienced a 51.42% price increase from January 5th, 2023.
• The Cardano Foundation reported an increase in transactions and smart contract usage on the network.
• Recent developments for the ecosystem include the Vasil hard fork and launch of Djed stablecoin.
Cardano (ADA) Price Increase
The price of Cardano (ADA) has increased 51.42% from January 5th, 2023.
The Cardano Foundation has shared statistics reflecting increased transactions across the board on the network. An increase in smart contract transactions on the Cardano network could propel the global adoption of similar protocols. On February 3rd, 2023, the official Cardano Foundation Twitter account revealed Cardano’s on-chain data from January which showed increases in native tokens, transactions, wallets, Plutus Scripts and policies on the network. Furthermore, transaction types were reportedly divided into 31% for smart contract transactions, 46% for simple transactions and 23% for metadata transactions without smart contracts.
Recent Events & Developments
Notable events for the ecosystem include the Vasil hard fork upgrade launched on September 22nd 2022 to enhance smart contract capabilities on the network as well as Cardano’s overcollateralized Djed stablecoin launched on January 31st 2023 which quickly accumulated 29.9M ADA in base reserves less than a week after launch with a 652% reserve ratio at present time of writing. Additionally, 50% of nodes went offline due to a „transient anomaly“ but IOG founder Charles Hoskinson assured that it was not malicious and would be investigated further by developers.
Cardano (ADA)’s recent developments demonstrate their commitment to continued innovation and growth within their blockchain platform while also providing users with secure and reliable services through their various upgrades and protocols such as Plutus Scripts or Djed stablecoin launches . As more individuals become aware of these features found within this blockchain platform there is potential for further mainstream adoption along with its associated benefits globally .