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Will Magic Leap 2 AR Glasses Lead the Way to the Metaverse?

Magic Leap released a preview of its new AR glasses, Magic Leap 2. Will this attract consumers to the metaverse?

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Get More Gaming in This Month with EA Play and Game Pass

This month, EA Play members will continue to be rewarded with even more game. Whether you’re celebrating Saint Patrick’s Day in Madden NFL 22 with a Shamrock Helmet, repping a new Mario Gomez Tifo set in FIFA 22, or rolling up to the exclusive March event in Grid Legends, EA Play has got you covered. […]

Cryptocurrency Market Impulses to Double-Digit Weekly Gains

Cryptocurrency Market Impulses to Double-Digit Weekly GainsA fresh impulse in the cryptocurrency market sees all of the top ten cryptocurrencies up by double digits in the ...

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NZD soars despite drop in confidence

The New Zealand dollar is up sharply on Tuesday. In the North American session, NZD/USD is trading at 0.6943, up 0.83% on the day. NZ consumer sentiment falls sharply Westpac Consumer sentiment slowed for a third straight quarter, and the Q1 release showed a sharp drop, falling from 99.1 to 92.1. The 100-level separates optimism […]

Cardano Soars 13% On Rumors Of Burn Mechanism, Hoskinson Reacts

In the final 7 days, Cardano is among the finest performers on the crypto high 10 by market cap. Proof-of-Stake networks lead the market, as Bitcoin and others stand within the again. Related Reading | Cardano (ADA) Takes A Tumble After Hoskinson Is Accused Of Falsifying Credentials Avalanche (AVAX) data nearly 30% in income, as […]

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Cardano Soars 13% On Rumors Of Burn Mechanism Rollout, Charles Hoskinson Reacts

In the last 7 days, Cardano is one of the best performers on the crypto top 10 by market cap. Proof-of-Stake networks lead the market, as Bitcoin and others stand in the back. Related Reading | Cardano (ADA) Takes A Tumble After Hoskinson Is Accused Of Falsifying Credentials Avalanche (AVAX) records almost 30% in profits, as Ethereum (ETH) records 16% and Cardano (ADA) 13% profits over the past week. ADA’s price trades at $0.89, as of press time, and could see further gains in the short term as the market experiences further gains. ADA’s price appreciation could be fueled by rumors about the potential implementation of a burn mechanism for Cardano. The news was shared on Twitter by WatcherGuru triggering a reaction from the ADA community. The source of the rumor could be a tweet from Clark Alesna, developer and CEO of a company called SAIB Inc. Alesna accepted a “challenge” from Hoskinson and said he will start production of a burn smart contract for ADA. Alesna said: It seems like no one really took Charles Hoskinson challenge to build a #Cardano $ADA burn smart contract challenge that he put out some time ago. So, I’m taking matters into my own hands and started to plan and code it this weekend. I’ll update you guys soon. However, the tweet and its replies suggest Alesna was simply joking. The message by taken seriously by certain media outlets which triggered a reply from Hoskinson himself. The inventor of Cardano shared the following meme as a response to these reports. https://t.co/f9qU9xW5gl pic.twitter.com/KfaZEEBXrw — Charles Hoskinson (@IOHK_Charles) March 19, 2022 The ADA community seems to agree a burning mechanism will never be implemented on Cardano and classified the rumors as “misleading”. Most of the users seem to agree this system will bring disadvantages to the network. A pseudonym user said: Misleading information. There will never be layer 1 chain burns. You can’t burn utxo protocol just like bitcoin. Token means layer 2 blockchain on Cardano may require burns. Have to get this clear. Why eth burn? Because they build very differently in terms of accounting model. We shall not talk about them as they are struggling to roll out decentralised proof of stake. The Cardano Ecosystem On Fire Data shared by Hoskinson suggest the Cardano ecosystem has been expanding since the implementation of its smart contract capabilities. As seen below, there are over 500 projects building on this network, per Hoskinson. Currently, Non-Fungible Tokens (NFTs) seem to be dominating development on this network, native marketplaces for these digital assets follow at a much smaller scale, with Decentralized Exchanges (DEX), GamiFi, and wallets. Related Reading | Cardano (ADA) Attains 9th Position in Market Valuation During Ecosystem Inflows He hinted at the continuation of this trend, as Cardano deepest into its third era of development, known as Basho. Hoskinson said: “Moving the chains. A large wave will come after June when the Vasil hardfork happens”. This could potentially support the continuation of the current bullish trend for ADA’s price.

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