Cardano Cryptocurrency Overview: Features
The Cardano cryptocurrency token (ADA) was founded by Charles Hoskinson, who also co-developed Ethereum. The Cardano platform is implemented in the Haskell programming language. It is based on a multi-level blockchain stack. Cryptocurrency is supported by the following organizations: IOHK assists in development, Foundation (Swiss ecosystem development organization Cardano) and Emurgo (serves commercial projects). Currently, cryptocurrency ranks 6th in the market capitalization rating (about $ 39 billion).
Details of Cardano
Cardano cryptocurrency peaked in early 2018 at the time of the cryptocurrency boom. Since the beginning of 2021, the yield has been more than 570%, but now ADA rate fluctuates around $ 1.5. At the same time, bitcoin has a yield of more than 98% and Ethereum 144%, respectively. The main advantages of cryptocurrency:
- This is a third-generation open source blockchain that is considered more reliable and scalable (via protocol Uroboros Hydra).
- Constantly updating protocols and introducing new technologies gives endless privileges to currency holders.
- Big advantage ADA crypto is the pursuit of energy efficiency (20,000 times more efficient than the Bitcoin mining system).
- Cardano provides digital identification (for those who do not have bank accounts). span>
ADA cryptocurrency works on the proof-of-stake (Ouroboros) algorithm. This is the first blockchain platform based on a scientific philosophy and research-oriented approach. The creator of the platform said that ADA Cardano will soon be able to support non-Fungible Token (NFT) trading platforms, and this is likely to affect price increase.
How to invest in Cardano?
It’s easy for people who value technology to invest in Cardano. ADA cryptocurrency is listed on many major exchanges and has a huge amount of liquidity and trading. Cardano tokens can be traded on the Binance, Mandala Exchange, CoinTiger and other sites. Cardano should be considered as part of a wider diversified cryptocurrency portfolio. Cardano’s currency has not succeeded quickly, but it has enough merits to remain a leading competitor in the field of cryptocurrencies for a long time. Concluding review it is worth noting that the full-fledged cryptocurrency was introduced in 2017. At the same time, it has recently appeared on popular trading exchanges. At first, the Cardano coin was unavailable to many markets and countries.