Cardano (ADA) is among the top 10 market cap crypto coins right now & has for a long time maintained this position. This blockchain project is supported by three entities; EMURGO, IOHK & the Cardano team whose aim is to make the ADA network a global product in the Fin Tech era.
The Cardano project has shown potential for integration with various industries given its platform scalability. Its competitive advantage over Ethereum is the ability to interoperate between Cardano & other blockchains. Simply put, the features within the Cardano blockchain network are more advanced than the ‘smart contracts’ generation blockchain.
Cardano’s market prospects are quite good as we approach Q4 given that its team has been generous enough to release a few updates. Normally, this quarter has been a bullish one for digital assets in the past years. This is probably the reason we’ve seen a good number of updates in blockchain & crypto projects since the beginning of September. ADA might as well benefit from the market effect & fundamental value;
Yoroi Browser Extension for ADA
Cryptocurrency adoption has been hindered by its ease of use to date. ADA users will now be able to manage their coins using the Yoroi browser extension, a fast-launching lightweight wallet.
Therefore, Cardano users will avoid the hassle of synchronization with a blockchain network for management of their ADA funds. Instead they can simply transfer ADA altcoins to the Yoroi wallet from Daedalus.
Yoroi’s advantage is its minimal space requirement in comparison to operating on-chain. This light weight wallet achieves this efficiency from the fact that its operation is not reliant on the full blockchain copy.
Furthermore, the portal has an enhanced security for user passwords. The wallet’s private keys have a password encryption & are kept on a user device as opposed to online servers.
At the moment, Yoroi has accommodated 4 languages for users who plan to leverage then network for ADA coin management.
Cardano’s Fundamental Progress with just a year of Existence
On October 1st, the ADA altcoin marked one year since it started trading. Back then the crypto coin was going for $0.0217; its price today is four times the initial price. During the Cardano Initial Coin Offering, the team managed to raise $62 million which is currently in use for technological developments. This project is among the few that stuck to its word on regularly updating its Roadmap status.
A month after its ICO, Cardano started a forum which enjoys an active membership of over 8,000 participants from different jurisdictions. The altcoin’s good features have not only attracted crypto users but market players like coin exchanges. Within a period of one year, the ADA cryptocurrency has been listed in over 30 crypto exchanges with popular figures like Huobi, Bittrex & Binance in this list. Furthermore, the crypto coin has a fiat USD pair in the Exmo & Kraken coin exchanges.
At the moment, ADA’s market cap position is almost line with its fundamental value if it were to be used as the market standard. The cryptocurrency has a position of more than $2 billion which translates to 0.981% of the total crypto market.
The Cardano foundation has also gathered a huge online community in crypto sub-forums like Telegram & Reddit & social media platforms like Twitter where it has a following of over 126,000.
ADA Cryptocurrency Card Release
Cardano recently released their ADA-based cryptocurrency card. This simply means that ADA users will now be able to leverage this crypto coin for bank-like debit card operations. Instead of fiat money, the card will utilize one’s digital assets stored within their crypto wallets to fulfill payments or transactions. Merchants will however receive fiat money once the payments have been made since cryptocard ADA tokens will be converted to fiat money.