What Is Cardano ADA Crypto?
Cardano is a decentralized, multi-layered platform founded on the open-source PoS algorithm. This project is designed to create smart contracts and has its own ADA coin.
Cardano Cryptocurrency History
In 2014, Charles Hoskinson (co-founder of BitShares and Ethereum) with a partner founded IOHK. That's where the Cardano project began.
Japanese investors were interested in the idea of using blockchain technology to develop smart contracts and contracted with IOHK owners to create an innovative cryptocurrency that would be highly scalable.
The ICO lasted from 2015 to 2017. During this campaign, the developers of the project raised $62,000,000. One week after the launch, Cardano's market capitalization rose to $500,000,000 and ADA's daily turnover reached $100,000,000.
What Is ADA Crypto Used For?
- This platform creators call it a third-generation Blockchain project. This ecosystem is constantly being improved to preserve and build on the positive aspects of previous blockchains by addressing their challenges. First, this concerns scalability and power consumption.
- This project developers are solving the problems by adding cryptographically secured data to the system. This ensures interaction with regulators, but the privacy of the token holders remains at a high level.
- The project's protocol is improving along with the development of the ecosystem. To do this, the developers are creating a mechanism for reaching an agreement between all community members. The goal of the Cardano team is to avoid hard forks of ADA cryptocurrency, which no popular cryptocurrency network has done without.
- Cardano is created using the Haskell programming language. According to experts, it is one of the safest options. Besides, it uses an improved protocol Proof of Stake Ouroboros, which implies the participation in the voting of all ADA coin owners.
The Benefits Of Cardano Coin
The first ADA cryptocurrency got available at exchanges in autumn of 2017, and it got on-demand among crypto investors for the following reasons:
- Security. For greater stability, the internal blockchain system is divided into two parts: the first is responsible for redistributing tokens and the second for using smart contracts. All of this is programmed in the Haskell language, which minimizes the chance of errors and cyberattacks.
- Functionality. During the test runs of the Cardano network, the ADA token's capabilities were limited. Today, a voting system has been introduced that will translate all ADA token holders into project shareholders.
- Quantity. A total of 45 billion ADA coins will be in circulation. From the launch, the issuance should last for 24 years - after that, token issuance will be discontinued.
Cardano Coin Mining
ADA mining uses a cryptocurrency wallet rather than computing equipment. To start the process, the user needs to install the program, upload the blockchain, buy ADA coins from one of the exchanges, and take part in the generation of blocks. Consensus is reached by a general vote of Cardano digital asset holders, who choose slot leaders based on the blockchain share of everyone who has a Cardano wallet.
ADA Crypto Price Prediction
Recent ADA crypto news about a launch of a new ERC20 converter, partnerships with Nervos, Marlowe, and other companies show that this project has great prospects.
Cryptocurrency experts also think so and have a positive ADA coin price prediction. As for Digitalcoinprice, ADA cryptocurrency will be $1.73 at the end of 2021. But a WalletInvestor even believes that ADA coin price will be $3.013 in a year.
What Is The Price Of Cardano?
ADA coin price today is 1.27 USD.
Is Cardano A Good Investment 2021?
Overall, analysts note the good potential of the coin and predict a good future for it if the project demonstrates stable adherence to the roadmap course. Therefore, ADA could be a good solution for long-term investments.
Where To Buy ADA Coin?
The easiest way to buy ADA is to choose exchanges, such as StealthEX. With this platform, you can exchange crypto for another crypto or buy it for fiat money (EUR, USD, RUB, GBP). StealthEX makes all transactions secure, and you don't need to wait much for buying crypto.
How To Buy Cardano Crypto?
To buy ADA crypto just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, BTC to ADA.
- Press the “Start exchange” button.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your Cardano coins.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.