BIGGEST MOMENT FOR CRYPTO HAPPENING NOW! [CARDANO & XRP NEWS] - YouTube

as admiral akbar said in star wars it's a trap

this is a trap all right welcome back everybody to  altcoin daily where you subscribe because you're  

interested in making money with cryptocurrency and  this channel keeps you informed my name's austin  

in today's video i'm going to update you on the  latest news involving cardano involving ripple  

involving lower cap altcoins and then even lower  cap alt coins so like always check the time stamps  

down below in the video description and let's  jump in starting with a top story of the day  

crypto tax strife continues as the senate delays  vote the question of which entities in crypto  

are liable for tax reporting obligations has  yet to be settled so this was supposed to be  

voted on yesterday there is a crypto section in  the us's multi-trillion dollar infrastructure  

bill if you want the basics on what exactly that  infrastructure bill is and how it affects crypto  

seek out our two videos from the prior two days  we covered the basics heavily but the update for  

you today is that the senate didn't find time  yesterday to vote on the two rival amendments  

that determine which crypto entities must provide  customer information to help pay for joe biden's  

one trillion dollar infrastructure bill so it  got pushed they didn't have time and it's now  

expected that the senate will convene today to  vote on the amendments in fact we can check in  

on a live stream right now this is live this  is happening live the senate is debating the  

infrastructure bill they haven't even gotten  to the crypto amendments yet but i will post  

this live link down below if you guys want  an exact play by play of what's happening  

now some good news and if you follow us right now  on twitter you probably saw this from yesterday  

just in senator ted cruz has filed to  strike the crypto regulation from the  

infrastructure bill entirely and it's just  been filed nothing official has happened yet  

but this option is way better than either  of the two amendments because this option  

doesn't force us to have to make hasty decisions  that shoved in to a broader infrastructure bill  

so our u.s senators are hearing us this was  ted cruz yesterday regarding the crypto bill  

the senate is on the verge of passing legislation  that would be terrible for cryptocurrency  

the infrastructure deal contains dangerous  provisions that would devastate crypto and  

blockchain innovation supporters of  crypto need to make their voices heard  

and shortly after this he filed to strike the  crypto stuff from the bill and where we stand  

today we're watching we're waiting nothing we'll  notice hopefully this decision is made today but  

nothing will probably happen regarding the crypto  stuff or just the bill in general to late tonight  

so what you can do right now if you want  the most up-to-date information follow us on  

twitter i'm watching i'm waiting i will update  you as soon as anything happens or like always  

in tomorrow's video we will cover the most recent  news that affects you first piece of altcoin news  

cardano smart contracts start at the end of  august we have a fresh new update from charles  

in a recent interview the cardana founder is  in a good mood and full of confidence about the  

upcoming upgrade of the cardano chain the update  is all tests were satisfactory the level of bugs  

is very low and most of the errors detected  could practically be eliminated in passing  

so that's what a test net is for right to work  out all these bugs therefore from august 9th  

forward the test of the new smart contracts  functionality will be expanded to include  

crypto exchanges and wallet developers so far  cardano has been running its test net since may  

only on the internal infrastructure of the network  and now they're expanding now what to expect next  

as a cardona holder in mid-august probably towards  the end of next week charles will report back  

with two very specific dates the first will be  the planned time of the smart contract upgrade  

and the second will be the fallback time  this would only be relevant if the team  

were to find reasons for a postponement  shortly before the actual start date okay  

i'll take it we are zoning in on the exact launch  dates and just to sum it all up where we stand now  

probable time august 31st 2021 actually that's  aaron and my birthday accordingly it is realistic  

to expect the so-called hard fork combinator which  is cardano's method of performing mainnet upgrades  

to start around august 26th since it would have  to be triggered three to five days before the  

actual update the mainnet integration  would then take place on august 31st  

if the fallback date is used the upgrade would  take effect in the first week of september  

okay i will keep my eye on this i will keep  searching for updated information by the way  

be sure to check out our clip from our recent  raul paul interview just dropped this morning  

raul paul big ethereum bull gives his thoughts  on cardano check it out link down below  

next piece of news for ripple and altcoin xrp  ripple to soon see defy smart contracts and  

federated side chains so this was just announced  on their blog the federated side chains and ripple  

confirms that federated side chains are coming  the implementation will vastly increase the use  

cases of the xrp ledger including being able  to defy nfts and smart contract capabilities  

interesting so i wonder which nfts will choose  to launch off ripple why would you choose ripple  

instead of ethereum no hate honest question it's  interesting to see all these options popping up  

in a direct quote you asked we listened we've  introduced federated side chains to the xrp ledger  

so you can enjoy the power of the xrp ledger  on a side chain that acts as its own blockchain  

learn about new use cases like native dpi  capabilities and smart contracts all that  

on their blog and while the company confirms that  cross-border payments remain its bread and butter  

federated side chains will open up a world of  possibilities for ripple going into the future so  

this unresolved lawsuit by the sec is not stopping  ripple they are pressing forward and in terms of  

what defy what dapps will be put on ripple many  many people suspect their aim is to get central  

bank digital currencies what's more speculation is  mounting that ripple has its eye on a bigger prize  

namely using sidechains to capture  the central bank digital currency  

cbdc market so right now countries like japan  and europe france specifically i think are  

using tezos and they're using ethereum just  to test the waters and do tests of cbdc's  

ripple wants a piece that action in a direct  quote from ripple cto david schwartz in a recent  

interview on thinking crypto friend of the channel  the general idea is to enhance the utility of the  

xrp ledger by essentially having additional  ledgers that sort of literally sit to the side  

of it if you try and put everything on a single  chain what happens is the chain gets slow and  

it gets expensive and it degrades the ability  of the people to use it for simple payments  

which is of course ripples bread and butter cross  border payments in a direct quote regarding cbdc's  

we're also working on a fresh approach where  central banks will be able to join a network  

of cbdc ledgers that enable full settlement  interoperability while allowing each member to  

retain their monetary and technical independence  so to be clear while today's announcement on  

federated side chains did not mention cbdc's it's  hard not to put two and two together so if you  

hold xrp give me your thoughts down below the main  announcement for today is federated side chains  

are confirmed as more updates get announced  i will keep you updated like always  

next piece of lower cap altcoin news wu-tang  clan's method man to launch an nft comic book  

series the nft will include exclusive artwork  music animation and apparel and why this may be  

significant to you is because the cryptocurrency  that method man is choosing to launch these nfts  

off of is the flow cryptocurrency flow altcoin  wu-tang clan rapper method man is launching a  

new comic anthology series as nfts the first  part of his title world saga is called part  

one origin and he is offering a lot of value in  this the tokenized comic book will also include  

unreleased music from method himself alongside  a 3d digital animation of the origin story of  

title world other bonus goodies include a gold  vip card for title athletics method man's sports  

clothing line and of course like i mentioned the  comic is built on dapper labs flow blockchain  

the blockchain which currently hosts the immensely  popular cryptokitties and nba top shots nfts so if  

you hold flow this is another one for you another  potential win for method man pretty interesting  

and next piece of news for even lower cap altcoin  audience blockchain-based music streaming service  

audience now has up to 5 million monthly users as  well as more than 100 000 artists on the platform  

including dead mouse and skrillex here are the  details audies a music streaming platform that  

runs on the ethereum blockchain hit a major  milestone on thursday as five million people  

a month now use the platform to stream music  making one of the largest consumer applications  

on any blockchain just as a reminder audience  which launched back in 2019 operates closer to  

a decentralized version of music streaming  service soundcloud rather than spotify  

and the reason people are choosing to go to  decentralized versions of these platforms  

is because blockchain technology has  been touted by many in the community  

as a way to make the monetization of art and music  fairer in the digital age by giving creators more  

ownership of their work as well as by clarifying  the licensing and metadata issues that cause music  

to be taken down from online platforms okay  make sense and it's cool to see the progress  

that audies is making i'll keep you updated and  that is the video be sure to watch the raul paul  

interview and clips if you haven't already really  valuable insight and like always see you tomorrow