Cardano (ADA) might be a new name in the world of cryptocurrency, but it is on course to matching results depicted by some of the financial platform’s best entries. The blockchain was developed by Charles Hoskinson and is powered by ADA tokens. Hoskinson also aided in the founding of the Ethereum project, the blockchain that supports most cryptocurrencies currently on the market.
Cardano (ADA) has been in development in the shadows even after its ICO in 2016 but has now entered the Bittrex trading platform. Cardano is similar to Ethereum, and as the newest entry into cryptocurrency exchange, it features some of the latest technological innovations. However, it still supports some of the features found in other successful blockchains such as smart contract technology.
Why Cardano (ADA)
This innovation also guarantees enhanced speeds when it comes to transactions as well as quantum computer resistance. Cardano also has rock-solid reliability, and its smart contract technology will be first used in casinos as well as mobile gaming. Cardano will improve the integration of cryptocurrency into our everyday lives while eliminating flawed and outdated currencies.
Cardano will also launch a debit card that will allow users to spend their token (ADA) anywhere in the world. However, the one advantage ADA has over most cryptocurrencies is the timing of its introduction to the public. As the latest cryptocurrency, ADA has the best features and is more technologically advanced as opposed to its counterparts. Cardano has the potential to become one of the best coins in the immediate future.
Cardano’s ICO analysis took place from September 2015 until January 2017. The process had weighty KYC requirements and as such occurred in four different but connected phases. To the Japanese market, Cardano (ADA) was marketed as a retirement investment. As such, over 95% of all participants in this blockchain from Japan are between the age of 35 and 55. 2.39% of the buyers were Chinese while Koreans made up 2.56%.
Cardano had supplied 45,000,000,000 ADA tokens for its ICO, and the event sold over 26,000,000,000 tokens. At the ICO’s end, Company had raised over $63 million meaning one ADA token went for approximately $0.00242. Investing in this cryptocurrency is a good idea considering it will only appreciate as time progresses.
Not to mention, For all Japanese shareholders, They have been instructed to open accounts with Bittrex to allow for seamless trading. As such, the supply of ADA tokens will be limited; this is the perfect time to purchase this cryptocurrency to reap maximum benefits from its appreciation. Apart from Japan, Korea, and China, Cardano was also obtained by people in Thailand, Vietnam, Philippines, and Taiwan just to mention a few.
Cardano (ADA) aims to compete with established blockchains such as Ethereum and Bitcoin. This blockchain is built on two layers; CSL and ADA. The latter supports Cardano’s POS protocol, which is also rumored to be the first of its kind. The CSL handles security analysis, but the CLL is responsible for computation and running codes. CSL also runs smart contracts and decentralized applications that are customized to abide by all stipulated regulations.
ADA is the second component of this cryptocurrency and is the token that makes all transactions on this ecosystem possible. However, its concept is somewhat similar to that of BTC and ETH; still, ADA has its standout features. While Bittrex is the only confirmed listed for Cardano, many exchanges have offered to give the cryptocurrency a platform boosting its hopes of a prosperous future.
Cardano (ADA) is promoted, educated, and standardized by the Cardano Foundation, which also does the same to its Apps. The foundation aims to provide the best possible standardization program and help welcome government engagement. IOHK engineered the blockchain; they are one of the best blockchain engineers in the world.