The TGCm Weekly RunUp

August 2, 2023

AuthorAuthor

Alan Buxbaum & Jami
August 02, 2023

Welcome back to ThinkGrowCryptoMedia! Your Cardano-biased, news media outlet for your blockchain-knowledge needs.

Have you ever wished you could search through Charles Hoskinson's YouTube livestreams with just a few keywords?

Well, your wish has been granted!
A new platform, Hosk Said, has been launched that lets you do just that.

You can quickly get the context of the word you're searching for, along with a timestamped YouTube link if you want to listen to that part.

And guess what?
The transcript has been manually fixed to include technical terms like Ouroboros, IELE, Yoroi, and more.

Switching gears a bit, let's talk about Cardano's DeFi sector.

If you've been keeping an eye on the DeFi landscape, you'll know that Cardano is making some serious waves.

The Total Value Locked (TVL) in Cardano's DeFi projects is on a steady upward trajectory.

And no, we're not talking about Ethereum here.
This is all Cardano, baby!

Also, Cardano staking has seen an explosive increase in the last 24 hours, with the percentage of ADA staked skyrocketing by a staggering 285.54% compared to the average over the last 30 days.

Let’s get into it 👇

 📊 Cardano Ecosystem Stats

🚀 Cardano Headlines

Cardano is setting a new standard in the blockchain world with its approach to native tokens.

This unique feature allows users to create and transact their own tokens directly on the Cardano ledger, bypassing the need for a smart contract. This not only provides greater security guarantees but also opens up a world of possibilities for developers and innovators.

An exciting one is the creation of 'encrypted coins'. These are tokens that hold a private value known only to the owner. With the advent of Zero-Knowledge Proofs Smart Contracts on Cardano, these encrypted coins can be created and transacted with an unprecedented level of privacy and security.

But the benefits of Cardano's approach to native tokens don't stop there.

It's also making transactions incredibly cost-effective. Users are reporting the ability to send dozens of assets at a fraction of the cost you'd see on other blockchains. One user reported sending 56 assets for just 0.482785 ADA, roughly 14 cents. 🤩

In short, Cardano's approach to native tokens is making the blockchain more user-friendly, more secure, and more accessible.

In Other News

💸 Blockchain Headlines

If you’ve been around the Cardano community for a while, you may have heard the term “NIPoPoWs” thrown around a bunch by Charles on his AMAs. Aside from being fun to say, the term means huge things for blockchains…

This week, Ergo made history by becoming the first blockchain to implement NIPoPoWs on mainnet. 🎉 

So what exactly is a NIPoPoW? The acronym stands for Non-Interactive Proofs of Proof-of-Work.

As many know, Proof-of-Work networks derive their transaction-validation from miners proving cryptographic puzzles, which grants them the right to verify transactions and add blocks to the chain. We’ll let ErgoPlatform.org explain the rest:

“…the Po in the center of NIPoPoW stands for Proof of. Having proof of proof of work means using cryptography to abstract away from the blockchain in a mathematically verifiable way. In other words, PoPoW is a light weight, yet provably accurate, representation of the blockchain.”

Essentially, NIPoPoWs allow for lightweight-verification of Ergo’s blockchain. This means that machines can utilize few resources to have what’s equivalent to full-node security when verifying the revolutionary chain. Case-in-point below:

Amazing stuff, congrats again folks! For more on this, check out the full article from ErgoPlatform here.

In Other News

📢 Cardano Community Corner

From wallet-updates to savory tech-talk, the Cardano Community never sleeps! Let’s check in on what the talk of the town has been this week.

💬 Get in Touch

That's all for now!

Feels a bit brief? Don’t worry, we’re right there with ya!

We’re starting off slow, as our first priority is longevity. We’ll be building out our platform over time.

As they say, slow and steady wins the race!

If you have any feedback or questions, please reach out to us by email or by sending us a DM on Twitter.

Thanks for reading!

Please note that the content provided in this newsletter is intended for informational purposes only and should not be construed as financial, investment, legal, or tax advice. Always consult with a qualified professional for guidance before making any significant decisions.