• Charles Hoskinson, the Cardano and Input Output Global (IOG) founder, addressed certain tweets about Cardano’s governance on Twitter.
• He shared the concept behind the CIP-1694 governance mechanism in response to a tweet by crypto writer A Nerd on a Wire.
• The self-proclaimed „King of the Rats“ highlighted that CIP-1694 allows for a voting class to make decisions about one of the seven governance events.
Cardano’s Governance System
Charles Hoskinson, the Cardano and Input Output Global (IOG) founder, recently addressed certain tweets about Cardano’s governance on Twitter. The topic of governance has been hot in the Cardano (ADA) ecosystem lately, with many conversations taking place across Crypto Twitter around Cardano’s governance system and CIP-1694.
CIP-1694 Governance Mechanism
In response to a tweet by crypto writer A Nerd on a Wire, Hoskinson shared the concept behind the CIP-1694 governance mechanism. According to him, this mechanism allows for a „voting class“ to make decisions about one of the seven governance events. This is also being „discussed and debated in an increasingly open way.“ In his video reply, he also spoke about drama „floating over Twitter“ surrounding Cardano’s governance processes and associated decision-making procedures.
Cardano Improvement Proposals (CIP)
A Cardano Improvement Proposal (CIP) is a formalized design document for ideas submitted by members of the community regarding potential improvements or features that could be added to Cardano’s platform. These proposals are then discussed and debated openly among members of the community before they are accepted or rejected based on consensus. Furthermore, material from Cardano workshops is publicly available so everyone can remain informed throughout this process.
The Age Of Voltaire
Cardano’s Age of Voltaire is set to remove IOG’s control completely from its ecosystem and shift all decision making power into decentralized hands through its voting class system outlined with CIP-1694 . This will ensure that all decisions taken in regards to changes made to its blockchain are made democratically through transparency between its stakeholders rather than solely relying on IOG’s discretion as it has done until now .
Hoskinson used A Nerd on a Wire’s tweet as an example of “materially untrue” drama floating over Twitter concerning decision making processes within its network; urging people not jump into conclusions without understanding nuances surrounding CIP 1694 first hand . Ultimately , this new age looks set give all stakeholders more say than ever before when it comes down important changes which should encourage positive growth within ADA ecosystem going forward .
• Ripple Labs has been in the news due to its battle with the Securities and Exchange Commission over the status of its digital currency, XRP.
• Silicon Valley Bank’s (SVB) collapse has sparked concerns about Ripple’s financial stability.
• CEO Brad Garlinghouse shared that Ripple had some exposure to SVB and expects no disruption to their day-to-day business operations.
Silicon Valley Bank Collapse
On March 10th, Silicon Valley Bank (SVB) collapsed due to a run on deposits prompting federal authorities to step in and establish a $25 billion funding program for banks facing liquidity issues. Depositors were assured they would have access to their money starting March 13th and taxpayers would not face any losses associated with the resolution of Silicon Valley Bank.
Ripple Tie to Silicon Valley Bank
The news sparked concerns regarding Ripple’s financial stability as they had stored some of their cash reserves with the now-failed tech lender. To address these worries, CEO Brad Garlinghouse took to twitter reassuring users that there would be no disruption to day-to-day business operations and that most of their USD was held with other bank partners.
Federal Reserve Response
The Federal Reserve is being called upon to take further action in order prevent similar situations from happening again by addressing underlying issues that led to Silicon Valley Bank’s collapse.
Despite the connection between Ripple and SVB, Ripple remains confident in its financial position assuring users there will be no disruptions in day-to-day business operations despite any exposure they may have had with SVB.
In conclusion, while there is still uncertainty surrounding Ripple’s exposure with Silicon Valley Bank, federal authorities are taking steps towards protecting depositors and taxpayers alike while also looking into further solutions for avoiding such instances in the future. Meanwhile, Ripple reassures its community that it remains confident in its financial position moving forward despite this setback.
• Coinbase user lost $96,000 due to account draining after an SMS prompt message.
• Coinbase denies responsibility for failing to flag several unauthorized transactions.
• Jared Ferguson from New York filed a lawsuit against Coinbase in May 2022.
Coinbase Refuses to Refund Lost Funds
A Coinbase user lost $96,000 due to account draining after an SMS prompt message. The hacker drained the plaintiff’s Coinbase account 24 hours after Jared Ferguson received a text message prompting him to change the password. At the same time, Coinbase failed to blow the whistle on multiple unauthorized transactions during this period and denied responsibility for the losses caused by the security breach.
Coinbase Proclaims Innocence
Coinbase sent an email to the customer claiming that they are solely responsible for their own security. However, Ferguson argues that his account password was changed from a different IP address and a new device, while Coinbase failed to flag these transactions as suspicious. Additionally, in 2021 another user lost $7,500 due to a SIM Swap hack and Coinbase refused to reimburse them for their losses as well.
Unethical Practice Takes Toll on Stock Price
Crypto Twitter is often quick to roast Coinbase customer support over similar situations like this one which took a toll on its stock price as well. At press time, Coinbase Global Inc (COIN) costs $62.77 with 2.7% decline in the last 24 hours since this incident occurred.
Base Layer-2 Blockchain Launched Along With Transaction Monitoring
Brian Armstrong intends on implementing transaction monitoring with regulators in order comply with laws and regulations through launching Base Layer-2 blockchain technology which could potentially include transaction monitoring capabilities if approved by authorities or regulators.
Lawsuit Filed Against Crypto Exchange
Jared Ferguson from New York filed a lawsuit against crypto exchange company Coinbase in May 2022 when his life savings of $96,000 were stolen due to a security breach via unauthorized transactions that were not flagged by the exchange platform itself as suspicious activities before it was too late for victim’s funds recovery process .
• CSWAP, a Cardano-based decentralized exchange (DEX), has announced a partnership with the Ape Nation NFT project.
• Original Ape Nation NFTs can be staked to earn CSWAP tokens.
• The partnership is expected to increase exposure to both the DEX and the NFT project, with holders aping into the project.
Cardano DEX Partners with Ape Nation
CSWAP has announced a partnership with the Ape Nation NFT project on February 27th, 2023. According to the DEX, Ape Nation aims to „build and lead one of the most recognized CNFT projects with true long-term appeal.“ Original Ape Nation NFTs can be staked non-custodially for users to earn $CSWAP tokens, and the Cardano DEX has also launched a „CNFTGiveaway“ where one lucky winner will receive a complete set of three Ape Nation NFTs. This partnership is expected to increase exposure for both parties involved.
The CSWAP team admires several characteristics of the Ape culture that have been established by its leadership team, including resurrecting it from abandonment as well their commitment to community centrism and passion for utility. Moreover, this unique project allows users to stake NFTs in order to earn various cryptocurrencies tokens as well as mutate original NFTs using special vials.
Rise of The Nation of The Apes
Ape Nation is a collection of 9999 Non-Fungible Tokens (NTFS) minted on the Cardano blockchain network that are designed for long-term appeal. With this new partnership between CSWAP and Ape nation, holders are beginning to take notice as sales have spiked over the past 24 hours. Furthermore, community members have voiced their opinion that both parties will ultimately benefit from this collaboration in terms of increased exposure and recognition within their respective industries.
Staking & Pre-Launch Access
In addition, stakers can gain pre-launch access by staking original ApeNation NFTS or participating in ISPO (CSWP1/CSWP). These incentives are likely encouraging more individuals to join in on staking these tokens while also providing them with exclusive access before launch.
Overall, this exciting collaboration between two industry leaders is sure to bring beneficial results for both parties involved within their respective markets in terms of increased visibility as well as potential revenue streams through staking rewards or pre-launch access incentives