What’s Going On With Cardano (ADA)?
Cardano (ADA) is one of the few crypto projects with most of its focus on researches, development, and practical application of blockchain. According to John O’Connor, Director of African Operations, Cardano’s hope of bringing the benefits of blockchain to Africa is older than Cardano’s research arm (IOHK).
Cardano and the Ethiopian government have agreed mutually and signed a Memorandum of Understanding (MoU) to train and hire fresh software developers from Ethiopia.
Ethiopia is the first Africa country to sign such a memorandum, with hints of Rwanda joining the train soon. Classes for the software developers will be organized by Cardano and are expected to begin by September.
Ethiopian Government has stated that it will be integrating Cardano into their agricultural sector with the possibilities of expansion to other sectors if the results are favorable.
Cardano African Operations branch and the MoU signed with the Ethiopian government could be the key to open the much untouched African market to the almost endless benefits of blockchain technology.
Upcoming Cardano Events
Cardano Community (popularly known as Cardanocom) will be hosting a meetup in London on the 11th of June. The meetup in London, Ouroboros will see Professor Aggelos Kiayias (chief scientist at IOHK) explain the principle behind the proof of stake protocol (particularly on Ouroboros).
Cardanocom in will be holding its inaugural meetup in the Netherlands on Wednesday, July 18, 2018, and Cardano has packed this one full. The meetup will feature informative talks on Ouroboros consensus algorithm, Smart contracts, Staking, Delegating Stake, Cardano’s roadmap successes and Sidechains.
Cardano Foundation has its roots in Switzerland, the blockchain project was registered in Switzerland 18 months ago before its ICO, with its headquarters in Zug, a small city about half an hour drive from Zurich, and home to over 200 blockchain companies. Cardano Foundation would be hosting its first ever meetup in Zurich, Switzerland three days from today; June 13, 2018.
Cardano (ADA) Topped the Weiss Crypto Charts
Last week, Weiss Ratings released their monthly ranking of cryptos, composed of 93 cryptocurrencies. Weiss Ratings uses the grading scale A for Excellent, B for Good, C for Fair, D for Weak, and E for Very week. A plus and minus is attached indicate the upper and lower tier of a grade range.
In the recent list made public by Weiss Ratings, no cryptocurrency received an A or a B+, however, 14 received B and B-. Cardano (ADA), EOS (EOS), and Decred (DCR) were the highest ranked crypto projects with a B rating. The rating of Cardano by Weiss is simply a confirmation of the credibility of the Cardano Foundation.
Market Performance of Cardano
Cardano began last week on a high (hiking by more than 17% in 24 hours), recovering from the recent bearish trends. However, Cardano could not sustain the momentum and has fallen back into the red, along with more than 80% of the entire crypto market.
As at the time of this writing, Cardano (ADA) is showing a sharp decline of 5.83% over the last 24 hours and is now trading at $0.192 USD. The faltering market has taken its toll on Stellar (XLM), and Cardano is now ranked the 7th largest cryptocurrency with an estimated market capitalization of $4.994 billion USD.