x
Verified on Po.et Created with Sketch. Verified on Po.et

Cardano Lists ADA Futures on BitMEX

by

         Cardano Lists ADA Futures on BitMEX

Starting on Monday, January 8, 2018, at 8:00 a.m. GMT, the ADA token from Cardano began to be listed on the futures exchange at BitMEX.

This makes BitMEX the fifth exchange to list the ADA token since Bittrex did so in October 2017, followed by Upbit, Binance and Coinnest.

Cardano, a project of IOHK, was designed by leading experts in academics and cryptography over the last couple years and draws from various features of existing cryptocurrencies such as Bitcoin, Ripple and Ethereum, but uses a proof-of-stake/security model as opposed to proof of work.

Charles Hoskinson, CEO of IOHK, said: “As markets evolve, there is an increasing need for liquidity and more sophisticated trading strategies. I’m glad to see BitMEX list ADA and hope this continues to aid our march towards becoming the financial stack for the developing world.”

Cardano is a full blockchain, built from scratch in the functional programming language Haskell. At the heart of Cardano lies Ouroboros, a proof-of-stake consensus algorithm. Ouroboros comes with a mathematical proof of security that has undergone a rigorous peer review, resulting in its acceptance and presentation at the major cryptography conference Crypto 2017.

News broke last week that GRNET, the national research and education network of Greece, is working on a pilot project to verify student diplomas on Cardano, signifying a first official use case for the Cardano blockchain.

The chairman of the Cardano Foundation, Michael Parsons, said: “This new listing is indicative of Cardano becoming a truly global blockchain platform. We are excited to see Cardano list with BitMEX. Adoption of ADA by new trading platforms is reflective of the bright future that Cardano has as a leading blockchain platform.”

The BitMEX listing of ADA is a form of fixed-date contract that allows traders to speculate on the changing value of the ADA/XBT exchange rate with a leverage of up to 20 times. It is not required for traders to have ADA to trade the contract; it only requires bitcoin as a margin. Full details are available on the BitMEX site here.

Recommended

Op Ed: Defining Decentralization: How Ambiguity Continues to Divide Crypto

In the pursuit of mass adoption, decentralization shouldn’t be our goal, but instead a means to achieve the many different, and equally important, goals that exist for cryptocurrency users.

Paul Puey

Qtum Completes First Atomic Swap With Bitcoin on Mainnet

Atomic swaps allow for on-chain exchanges, or transactions, between cryptocurrencies on two separate blockchains — in this case, Bitcoin and Qtum — without the need to rely on a third party.

Michael Taiberg

Nydia Zhang of the Social Alpha Foundation: Using the Blockchain for Good

“Education is what I see in the future as a positive change within the blockchain space. "

Nick Marinoff

South Korea Is Trialing Blockchain Voting — Here’s What That Means

South Korea will test out a new blockchain voting system this month, sources close to the developments have confirmed to Bitcoin Magazine.

Nick Marinoff