Cardano Kicks Off Independent Audit Of ADA Redemption

Following the controversial accusations, the results of the third-party forensic review of the Cardano (ADA) voucher redemption program have been made public. Cardano’s founder, Charles Hoskinson, says he’s now “waiting for the apologies to come rolling in.” Related Reading: Bitcoin Attempts $111,000 Reclaim, But Last Leg Up Could Be Weeks Away – Analyst Cardano Accusations Have ‘No Basis’ On Wednesday, the Cardano community celebrated after the third-party forensic review of the ADA voucher redemption program was published. The investigative report, conducted by law firm....

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Bitbay has become a fully licensed cryptocurrency exchange in Estonia which introduced stricter rules for the industry last year. The European trading platform has recently passed an independent audit that confirmed its “solvency, security and fiscal responsibility.” Audit Examines AML and KYC Procedures at Bitbay Bitbay, a leading crypto trading platform in Europe, is now a fully licensed and regulated exchange under Estonia’s stringent regulations imposed last fall. The company has been audited by an independent third party which thoroughly examined its accounting....

This inherent separation of power is all in accordance with Charles Hoskinson’s vision. The Cardano (ADA) ecosystem has a complex governance structure, not dissimilar from the way the U.S. democracy operates, with its built-in checks and balances. There are three main players: the Cardano Foundation, EMURGO and IOHK; according to the Foundation’s incoming CEO Frederik Gregaard, the governance will only get more complicated as more organizations join. He also said that he intends to maintain the Foundation’s independence from Cardano’s founder and IOHK CEO, Charles Hoskinson, who created....

Cryptocurrency platforms perform audits to ensure transparency, but it’s not a golden solution to solve all potential trust and security issues. On Dec. 9, the total market capitalization of cryptocurrencies soared past $535 billion. This is a significant increase from last year, when the cumulative market capitalization of cryptocurrencies was just over $199 billion. With such impressive growth underway, it shouldn’t come as a surprise that companies operating in the cryptocurrency sector are taking additional measures to ensure trust among investors. For instance, some cryptocurrency....