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WHY CARDANO ADA IS CRASHING! IS TESLA TO BLAME!?

Tesla Sold $936M Worth of Bitcoin in Second Quarter

The price of bitcoin fell about 1.7% following the news but regained its losses after CEO Elon Musk said Tesla was open to boosting its bitcoin exposure in the future.

Cardano’s ADA Payments Now Available to 7 Million Businesses via This Plug-In

As shared by the COTI Network team, Cardano’s ADA payments can now be available to over seven million businesses. This comes as the ADA Pay plug-in developed as part of COTI’s Project Catalyst challenge, which has been launched for Odoo’s midsize businesses.

Odoo (On-Demand Open Object) is an open-source solution for business applications with more than seven million users ranging from start-ups to large enterprises. As explained in a blog post, the ADA Pay gateway solution remains one of the basic steps in bringing ADA to the masses. Built on the Cardano blockchain, the ADA payment system for enterprises helps merchants accept ADA as a payment option with quick settlement. In its contribution to Cardano’s Project Catalyst challenge, COTI invited several teams to create ADA Pay plug-in solutions ready to be integrated into different e-commerce platforms.

Flint Wallet now available on IOS and Android

According to recent updates shared, Flint Wallet, an initial web extension, now has both iOS and Android apps, which makes it possible for users to utilize it on the web and also on mobile phones. The Flint Wallet, which allows users to manage and send assets on the Cardano blockchain, is also built with interoperability with blockchains such as Algorand, Solana and Ethereum.

Cardano founder ‘fundamentally rejects’ tortoise-hare analogy for the blockchain

Charles Hoskinson says even going slow and steady, Cardano was the first for eUTXO and one of the first to market for Proof-of-Stake.

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Speaking to the Crypto Mile, Cardano founder and Input Output CEO Charles Hoskinson discussed how blockchain could revolutionize the world.

During the discussion, the tortoise-hare analogy was broached — which asserts that Cardano is slow to release developments.

Commenting on this, Hoskinson said the analogy “irritates” him, and he “fundamentally rejects” it on the grounds that Cardano has been first, or near first, on several technologies.

Cardano has long been accused of being a tortoise

Cardano is described as a third-generation platform developed with formal methods to achieve the blockchain tenets of scalability, interoperability, and sustainability in a real-world setting.

Formal methods refer to the use of the scientific method, which involves discovery, peer review, and cryptographic research.

As a systematic and methodical approach, developmental releases have been delayed in the past. The most recent example of this was the Vasil upgrade, which was initially scheduled for release on June 29.

Hoskinson disagrees for these reasons

As far as the tortoise-hare analogy is concerned, Hoskinson clapped back, saying Cardano was one of the first Proof-of-Stake protocols to market.

As expected, comparisons with Ethereum were made as he commented that even though Cardano took the slow, systematic development path through peer review, it still pipped Ethereum to the PoS post.

“We were one of the first of the third generations to be in market with PoS. Ethereum is still not on PoS, and they had a two-year head start on us…”

In addition, Hoskinson also made a similar point on Cardano being the first protocol to use the Extended Unspent Transaction Output (eUTXO) accounting model.

This is an adaptation of Bitcoin’s UTXO accounting model, which works by calculating each transaction spending output using prior transactions. This allows new outputs to be spent by transactions in the future.

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