Recently, Cardano’s Charles Hoskinson announced that he was entering into a collaboration with Polymath. Members of the Cardano community have had debates regarding what this collaboration would mean for the Cardano price prediction 2019 and Cardano price prediction 2020. Will it affect the price of Cardano? Will it affect the development of the Cardano blockchain?
Polymath is a securities token platform. It is working on creating Polymesh, the first ever security token blockchain in the world. According to the news on Ambcrypto.com, Hoskinson will now serve as the Co-architect of the Polymesh project. The Cardano news was first revealed during the 2019 Consensus event hosted by the co-founder of Polymath, Trevor Koverko. On their official Twitter account, Polymath posted;
“Polymath Announces Polymesh with Charles Hoskinson, Co-Founder of Ethereum and Cardano, and CEO and Founder of IOHK.”
Polymath intends to create a purpose-built blockchain for security token. Regarding the collaboration, Hoskinson said that the Polymesh blockchain will eventually become a key infrastructure in the global capital market. The company posted a blog in which it made reference to the collaboration with Cardano’s Charles Hoskinson stating that they are excited to be working with Hoskinson on the project. Hoskinson said;
“Security tokens are data intensive protocols, which means operating costs will be high, and this won’t scale if we are talking about millions of securities, which we will eventually see. Moreover, things need to be done that you wouldn’t want to be done on Ethereum, like freeze or reverse transactions. “
Cardano News Today
Cardano’s Charles Hoskinson is one of the most prominent members of the cryptocurrency community. Before he became the co-founder of Cardano, he was a co-founder of the foremost decentralized computer in the world, Ethereum. Over time, he has made meaningful contributions in the Cardano community and in the cryptocurrency community as a whole. Most of the positive Cardano news you hear about partnerships and developments were made possible due to the effort of Charles Hoskinson and his team.
As we stated earlier, Hoskinson is an active member of the Cardano community. His roles as co-founder and developer are more important now that Cardano is making plans to migrate to a new era, Cardano Shelley. This is why some dedicated members of the Cardano community feel like this collaboration may divide Hoskinson’s attention making it difficult for him to focus on the Cardano development project. If he isn’t 100% focused, there is a high chance that the roadmap will be delayed and investors will become discouraged. However, there is still a chance that his collaboration with Polymath isn’t going to distract him from his core mission.
Cardano Price Prediction – Cardano ADA Price Analysis
Cardano (ADA) Price Today – ADA / USD
At the time of writing, the price of Cardano ADA was $0.07799. According to the latest Cardano price analysis on cryptopolitan; Cardano (ADA) price has noted a fifteen percent (15%) drop from yesterday’s opening to present price. The presently ongoing crypto conference ‘Consensus’ the prices of the cryptocurrency in the market have been unpredictable.
This drop resulted in bringing ADA price below zero point zero eight dollars ($0.08) a zone signifying buying and selling force.
This is a solid zone of support similar to that observed in mid-April. Following the intra-day low at zero point zero seven three dollars ($0.073), ADA price rose back to zero point zero eight dollars ($0.08) mark. Despite the all drops Cardano’s future is bright and there is a high chance that the price of Cardano will trade between $1 – $10 by 2020.
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