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- The Cardano founder took a stand while responding to a tweet that was giving wrong information about Cardano’s EUTXO model.
- The founder of Cardano blockchain showed his objection when some people questioned the security features of the Cardano blockchain.
The Founder of Cardano responded to questions on the security features of his blockchain. Recently, Charles Hoskinson, the founder of the Cardano blockchain, reshared a tweet where four people were discussing “Cardano’s rigorous secure formal verification design choices.”
Over their discussion, Hoskinson wrote that “1 transaction per block, because EUTXO is messed up.” He further added that these people “don’t even know they are lying.” EUTXO is the abbreviation of the Extended Unspent Transaction Output model. The EUTXO of Cardano combines and matures the security of Bitcoin (BTC) and programmability of Ethereum.
As Essential Cardano mentioned, this EUTXO model is “vastly superior to the account-based model used by other blockchains as this ensures to enhance the security, scalability, interoperability, and determinism.” They also discussed “how LLMs will continue getting better at attacking smart contract vulnerabilities,” in their video.
The four people in the video have their Twitter ID with the user name of @tarunchitra @tomhschmidt @rleshner and @hosseeb. As the short video clip introduced, Tarun Chitra is “giga-brain and grand poobah at Gauntlet, Tom Schmidt is a DeFi Maven and master of memes, Robert Leshner is crypto connoisseur and captain of Compound, and Haseeb is a Head hypeman at Dragonfly.” As their Twitter accounts showed they all are also active in the crypto industry.
According to a recent tweet by an ADA whale, “it is underappreciated that Liqwid Labs, the biggest lending protocol on Cardano blockchain is generously handing out most of its tokens to the community in a fair launch.”
Earlier this month, Liqwid Labs shared a tweet that stated that after almost two months on Cardano mainnet, it is an “all time most used DeFi protocol by transaction volume.”
Cardano (ADA) Price Analysis
At press time, Cardano (ADA) price is at $0.3799 with a 24-hour trading volume of $274.94 Million. In the last 24 hours Cardano is down 1.61%, with a current market cap of $13.18 Billion. Meanwhile, in recent 7-days the coin is down nearly 12% but its year-to-date increase is more than 50%.
Current ADA price surpassed its 100-day EMA, while if the buyers show dominance, then the coin will try to reach its 50-day EMA. As the recent performance of ADA follows a bearish trend, the RSI of ADA also dropped from almost 60 to 43 in recent 5-days.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
