Cardano is more than a cryptocurrency. In fact, it is a technological platform that is capable of running financial applications currently used every day by individuals, organisations and governments all over the world. This platform is constructed in layers and this gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks.
Cardano is home to the Ada cryptocurrency which can be used to send and receive digital funds. This digital cash represents the future of money which makes possible transfers fast and direct and which transfers are guaranteed to be secure through the use of cryptocurrency.
After the settlement layer that will run Ada is complete, a separate computing layer will be built to handle smart contracts, the digital legal agreements that will undermine future commerce and business. Cardano will also run decentralised applications, or dapps, service not controlled by any single party but instead operate on a blockchain.
Cardano has received lots of attention since it reached the top ten cryptocurrencies by market capitalization. There are not many virtual currencies that managed to arrive just to the point where this currency has.
Cardano (ADA) is a decentralized public blockchain and a cryptocurrency project that is developing a smart contract platform which delivers more advanced features than any other existing protocol. Cardano is the first blockchain platform that is based on a scientific philosophy and the only one to be designed and built by a global team of leading academics and engineers. It is essential that the technology is secure, flexible and scalable for use by many millions of users.
A major innovation of Cardano is that it will balance the needs of users with those of regulators, and in so doing, combine privacy with regulation. The vision for Cardano is tha twith its new style of regulated computing, it will bring greater financial inclusion by providing open access for all to fair financial services.
Cardano’s algorithm is called Ouroboros. This proof of stake algorithm determines how individual nodes reach consensus within the network. Ouroboros may be one of the solutions for blockchain scaling difficulties. With algorithm, the need for an energy-hungry proof of work protocol is eliminated. Apart from that, Ouroboros has been mathematically proven that secure and has never been compromised.
A special wallet is needed to store ADA. Cardano has named it Daedalus. This wallet will be able to run decentralised applications on the blockchain. The private keys are encrypted, protecting the user against attacks or malware.
The price of ADA has increased from $0.02 to $0.14 in three or four days. This reason for the increase in popularity and price of ASA is that it is likely that because Cardano has launched its roadmap explaining how Cardano is still developing. This gives investors and developers a clear view of what this currency may bring in the near future.
Cardano has almost 26 billion ADA in circulation and this figure is expected to reach the 45 billion coins in the future. Charles Hoskinson, Etehreum’s co-founder and CEO of IOHK, is one of the developers behind Cardano. Currently Cardano is the 11th cryptocurrency by market capitalization with $3.52 billion dollars and its price is operating stable around $0.1359 dollars. Anybody who is interested in buying Cardano can do so on Bittrex and Binance.
Cardano was created by a good developer team and with a good roadmap. It is not developed to prove that it is the best currency but rather that it can offer something different from the others. Apart from this, Cardano wants to help different entities and institutions to spread and expand. Cardano offers a really interesting platform similar to what NEO and Etehreum offer. ADA has outperformed NEO in the market and currently has a higher position up the coin market capitalisation table.
Cardano has its own Block Explorer. This useful tool can be used to check the history of transactions that have taken place on the Cardano blockchain. The Cardano Block Explorer can help you check transactions on the Cardano Testnet as well as on the real version of the network. The Cardano Testnet is a pilot version of the network on which engineers are running tests to make sure that it is operating smoothly and securely before the launch of the real network.
Regarding the Cardano roadmap, this is being regularly updated with a countdown clock indicating the next release. Cardano always keeps the general public up to date with their news. The Cardano roadmap belongs to the whole community and not just to IOHK, the Cardano Foundation or Emurgo. When a cryptocurrency is new, it needs good shepherds to guide it and to help it along the way, although in the near future, it will be fully in the hands of the users.