{"id":550437,"date":"2023-09-07T20:30:16","date_gmt":"2023-09-07T20:30:16","guid":{"rendered":"https:\/\/wncen.com\/?p=550437"},"modified":"2023-09-07T18:44:54","modified_gmt":"2023-09-07T18:44:54","slug":"cardano-announces-warp-transactions-ada-remains-stuck-in-ranging-market","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-announces-warp-transactions-ada-remains-stuck-in-ranging-market\/","title":{"rendered":"Cardano Announces Warp Transactions, ADA Remains Stuck In Ranging Market"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Strica, a company working on solutions and use cases for the Cardano blockchain, <a href=\"https:\/\/medium.com\/@StricaHQ\/introducing-warp-transactions-689d3e1339c7\" target=\"_blank\" rel=\"noopener nofollow\">unveiled a new feature<\/a> for the smart contract platform via their wallet, Warp Transactions.\u00a0 According to an official press release, described as a \u201cgame changer for token transfers,\u201d Warp Transactions were created to ease the burden of transaction fees paid when sending assets on this network.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/cardano\/cardano-hodling-long-term-holders-170-rise-year\/\" target=\"_blank\" rel=\"noopener \">Cardano HODLing: Long-Term Holders See 170% Rise In Past Year<\/a><\/div>\n<h2><span style=\"font-weight: 400\">Cardano New Feature Eliminates Sender Fees, But There Is A Clause<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Usually, on <a href=\"https:\/\/wncen.com\/news\/cardano-ada-price-nears-a-pivotal-shift-a-breach-into-the-0-3-level\/\" target=\"_blank\" rel=\"noopener \">Cardano<\/a>, every token transfer demands the sender to pay a minimum fee of 1.14 ADA to secure against network attacks. However, the Warp Transaction now offers an alternative for this mechanism.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Warp Transactions are based on the Unspent Transaction Output (UTXO) model. UTXOs refer to the small amount of digital currency after one executes a transaction.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Now, Warp Transactions are considered a type of UTXO transaction. They use the receiver address\u2019s UTXOs to cover the minimum ADA fee required to process transactions on the Cardano network.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, there is a clause that this new feature employs a multi-signature function. Therefore, the receiver and sender must sign off for any transaction to be completed and published on the blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, while Warp Transactions may mark a new era for the ADA community, this feature is only available for users of the Typhon Wallet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Whenever a Warp Transaction is initiated, the receiving address is notified and given 24 hours to accept or reject the transaction.\u00a0 <\/span><span style=\"font-weight: 400\">During this period, the tokens are moved from the sender&#8217;s wallet and are locked in a mempool, which acts as a \u201cholding area\u201d till the receiver approves or cancels the transaction. This mempool is managed by the backend of the Typhon Wallet.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/ada\/this-analyst-calls-ada-amazon-of-the-crypto-world-forecasts-bright-future-ahead\/\" target=\"_blank\" rel=\"noopener \">Analyst Calls ADA Amazon Of The Crypto World, Forecasts Bright Future Ahead<\/a><\/div>\n<h2><span style=\"font-weight: 400\">ADA Struggles For Market Breakout<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In other news, ADA, native token of the Cardano network, has been moving sideways over the last few days. According to data from CoinMarketCap, the altcoin has been stuck in a market ranging between $0.25 and $0.26 price zone since the start of September.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Before this market consolidation, ADA had been on a <a href=\"https:\/\/wncen.com\/analysis\/ada\/ada-price-plunges-0-275-support\/\" target=\"_blank\" rel=\"noopener \">downtrend<\/a>, losing about 12.9% of its value in August. <\/span><span style=\"font-weight: 400\">According to <a href=\"https:\/\/coincodex.com\/crypto\/cardano\/price-prediction\/\" target=\"_blank\" rel=\"noopener nofollow\">data from Coincodex<\/a>, the general sentiment around ADA remains bearish, with a Fear and Greed index of 41. <\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the prediction team projects that ADA will maintain its ranging market for now, reaching around 0.261 in the next five days. <\/span><span style=\"font-weight: 400\">At the time of writing, ADA trades around $0.256 with a 1.09% loss in the last day based on <a href=\"https:\/\/coinmarketcap.com\/currencies\/cardano\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap<\/a>. The token\u2019s trading volume is also down by 7.92% and is now valued at $104.7 million.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large\" src=\"https:\/\/www.tradingview.com\/x\/4WDnt10U\/\" alt=\"Cardano\" width=\"1480\" height=\"906\"><\/p>\n<pre style=\"text-align: center\">ADA trading at $0.2557 on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">ADAUSDT chart on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">\n<div class=\"disclaimer-shortcode\">Featured image from The Independent, chart from Tradingview.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Strica, a company working on solutions and use cases for the Cardano blockchain, unveiled a new feature for the smart contract platform via their wallet, Warp Transactions.\u00a0 According to an official press release, described as a \u201cgame changer for token transfers,\u201d Warp Transactions were created to ease the burden of transaction fees paid when sending assets on this network.\u00a0 Related Reading: Cardano HODLing: Long-Term Holders See 170% Rise In Past Year Cardano New Feature Eliminates Sender Fees, But There Is A Clause Usually, on Cardano, every token transfer demands the sender to pay a minimum fee of 1.14 ADA to secure against network attacks. However, the Warp Transaction now offers an alternative for this mechanism. Warp Transactions are based on the Unspent Transaction Output (UTXO) model. UTXOs refer to the small amount of digital currency after one executes a transaction.\u00a0 Now, Warp Transactions are considered a type of UTXO transaction. They use the receiver address\u2019s UTXOs to cover the minimum ADA fee required to process transactions on the Cardano network. However, there is a clause that this new feature employs a multi-signature function. Therefore, the receiver and sender must sign off for any transaction to be completed and published on the blockchain. Furthermore, while Warp Transactions may mark a new era for the ADA community, this feature is only available for users of the Typhon Wallet.\u00a0 Whenever a Warp Transaction is initiated, the receiving address is notified and given 24 hours to accept or reject the transaction.\u00a0 During this period, the tokens are moved from the sender&#8217;s wallet and are locked in a mempool, which acts as a \u201cholding area\u201d till the receiver approves or cancels the transaction. This mempool is managed by the backend of the Typhon Wallet.\u00a0 Related Reading: Analyst Calls ADA Amazon Of The Crypto World, Forecasts Bright Future Ahead ADA Struggles For Market Breakout In other news, ADA, native token of the Cardano network, has been moving sideways over the last few days. According to data from CoinMarketCap, the altcoin has been stuck in a market ranging between $0.25 and $0.26 price zone since the start of September.\u00a0 Before this market consolidation, ADA had been on a downtrend, losing about 12.9% of its value in August. According to data from Coincodex, the general sentiment around ADA remains bearish, with a Fear and Greed index of 41. However, the prediction team projects that ADA will maintain its ranging market for now, reaching around 0.261 in the next five days. At the time of writing, ADA trades around $0.256 with a 1.09% loss in the last day based on data from CoinMarketCap. The token\u2019s trading volume is also down by 7.92% and is now valued at $104.7 million.\u00a0 ADA trading at $0.2557 on the daily chart | Source: ADAUSDT chart on Tradingview.com Featured image from The Independent, chart from Tradingview.<\/p>\n","protected":false},"author":581,"featured_media":550438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,12332,89334,89335],"class_list":["post-550437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-cardano","tag-ranging-market","tag-warp-transactions"],"acf":[],"yoast_head":"\n<title>Cardano Announces Warp Transactions, ADA Remains Stuck In Ranging Market<\/title>\n<meta name=\"description\" content=\"Cardano has unveiled a new feature known as Warp Transactions while the ADA token struggles 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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