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Cardano (ADA) Refreshes Its Architecture by Kicking Off New Node

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Thu, 02/13/2020 - 11:04
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  • The Cardano team rolls out a major upgrade that will make implementation of future updates easier

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On Wednesday, the Cardano team released a major update – a new Cardano Haskell implementation. It is made up of the Cardano Node and the Cardano Explorer Backend with Web API, a blog post says.

The crucial Cardano upgrade

The Cardano team has been working on this upgrade for around a year and a half. The new architectural foundation they have been building is meant to ease the launch of the upcoming Shelley and Goguen releases. The upgrade also promises to allow third-party dev teams to build on Cardano and open the door to enterprise adoption.

As per the blog post, the changes will start with the upgrade scheduled for February 20 – Ouroboros BFT. So far, Cardano production remains working on the old implementation of the network node. It says:

“After the update to Ouroboros BFT, we will be able to migrate the core nodes that create blocks, while Daedalus users will be able to upgrade later, once the compatible wallet backend is available.”

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New architecture is needed

The upgrade will introduce some radical changes to the current design of Cardano. Unlike the previous node, which was monolithic, the new one is modular. It will make future integrations much easier to implement.

The new node will be easy to incorporate into other systems, used by crypto exchanges, for example.

“In the new architecture, the node, wallet, and explorer exist as separate components (a new wallet backend will soon be released).”

‘ADA is more ambitious than Tezos’

Financial analytical agency, Weiss Ratings, has been favoring Cardano for a long time, differentiating it from other blockchains, such as EOS.

In a recent tweet, Weiss Ratings wrote that, despite many similarities between Tezos and Cardano, “XTZ is ADA light”. The agency also suggested that the Cardano Foundation is trying to create something much more ambitious than Tezos.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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  • Mike Novogratz is convinced that when central banks make money grow on trees, then it's time to buy Bitcoin

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When central banks make money grow on trees, Mike Novogratz, the CEO of Galaxy Digital, has one message for his followers - buy Bitcoin (BTC). 

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Yes, money does grow on trees   

'Money doesn't grow on trees' is a popular expression that parents constantly hammer into the heads of their children. It means that money is a limited resource and encourages people to put in a significant effort in order to obtain it. 

However, this fable apparently doesn't apply to the U.S. Federal Reserve and the Bank of England, who unleashed unlimited liquidity to save the ailing global economy from the coronavirus-driven fallout. 

As absurd as it sounds, fiat money does grow on trees in 2020 (at least for central banks). 

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2020 could be Bitcoin's year 

Against this backdrop of incessant money printing, Bitcoin, a disinflationary currency whose total supply is strictly limited to 21 mln, has never seemed more attractive. Novogratz described it as the strongest bull case for the benchmark cryptocurrency. 

Even though crypto failed to perform as a safe haven during the coronavirus-driven sell-off, the Wall Street bull recently opined that 2020 could end up being another big year for Bitcoin.     

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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