On a massive incline since the recent Bitcoin price spike, Cryptocurrency continues to climb on the up and up. Changing the way we think about money in the 21st century and paving the way for the future of online transactions. And, the way the world is moving, there may just come a time when we do away with fiat altogether and go digital full time. Watch this Space!
And this is where we dive into all things, Cardano (ADA), currently valued at $1.16 per coin and with the expectation to rise substantially in time to come. What is it? How was it created and where is it heading? All this and more shall be revealed!
The Beginning of Cardano (ADA)
Cardano itself is a decentralized platform with it’s own set of digital assets, namely the Cardano crypto-coin (ADA). The company and coin run on an open-source blockchain, fully transparent and open to the public.
First established back in 2015, the Cardano project wasn’t fully running until the last half of 2017. Pioneered by crypto-guru Charles Hoskinson (the original forefather of Ethereum) the Cardano smart contract technology is state-of-the-art, fully encrypted and impossible to crack.
Cardano (ADA) Origins
If you haven’t heard of 15th century polymath Gerolamo Cardano, that’s entirely forgivable. While not a household name these days, Cardano was known for a number of groundbreaking mathematical/philosophical theories around game theory, algebra and others. The head honcho’s at Cardano paid tribute to the great of old, naming their decentralized protocol and company after the original MVP of probability theory.
The Cardano protocol was originally created as a series of peer-reviewed papers that got better and better over time. A who’s who of industry professionals, academics and engineers helped develop the protocol and, in time, refined it into locktight code.
Cardano’s peer-reviewed paper was something new for crypto enthusiasts, sparking a peer to peer revolution that had not been seen since the days of Satoshi Nakamoto and the Bitcoin gang.
Oh, and here’s a fun fact! The Cardano coins ADA acronym is named after the revolutionary programmer and mathematician Ada Lovelace, who is widely credited as being one of the original minds being today’s all-purpose computer. In fact Cardano’s smallest prices denominations are affectionately known as ‘Lovelace’s’.
ADA, the go-to coin of the Cardano ecosystem was first brought to market in 2017. A little late to the party, it rode the coattail of the great crypto bull run in the last months of 2017 into the beginning of 2018. But as time went on, it surprised a number of crypto-sceptics, rising through the ranks and garnering itself attention as a top go-to cryptocurrency as of 2020. With a current $36.8 billion market cap, a supply of 45,000,000,000 and a host of industry heavy hitters and crypto institutions backing it, Cardono (ADA) continues to convert the non-believers with a host of awesome services and incentives.
Benefits of Cardano (ADA)
If you’re one of those future orientating, early adopting tech types and want to get on a fast moving train to ultimate investment potential before the rest of the world catches on, then Cardano (ADA) may just be your digital match made in heaven. The protocol seeks to eliminate a lot of the historical issues that come with the relatively new introduction of a crypto-coin onto the market today. Namely being…
Scalability and Speed
Like most, if not all of it’s crypto-coin counterparts, Cardano could only handle only around 10 transactions when it first came onto the scene. But with constant refinement and protocol updates, the coin’s transactions have become ultra-fast. Cardano is now able to process over 1000,000 transactions per second. As in..every second! This brings new meaning to ultra-fast digital currency..
Cardano treats security and the ever present threat of cyber hacking as their primary concern. Constant updates to the platform ensure that the ADA protocol runs like clockwork, with cutting-edge software designed to redinfe how users manage their privacy, security, and decentralization.
Integration on Multiple Platforms
There are literally thousands of platforms and protocols with more coming to the market each day. Cardano is working actively to breach the divide and enable interoperability across all of the major networks.
Heard of Ouroboros?
A unique and signature feature of the Cardono (ADA) protocol, the Ouroboros protocol feature is a cutting edge mechanism of consensus among buyers and sellers, whereby randomly chosen leaders are able to approve different blocks on any given day. The leaders change regularly and, for their effort, receive a Cardano cashback reward. This interactive strategy solidifies the coins status as a “group orientated” currency and gives early adopters and supporters the opportunity to benefit from the continued growth of the currency as a whole.
The Unstoppable Age of Cardano
ADA is hosted on more than 30 exchange sites world-wide, allowing traders to buy and sell the coin from most corners of the globe. In addition, Cardano has also created its own ADA wallet known as “Daedalus” where you can store your precious ADA and Lovelace’s.
A decentralized group effort if ever there was one. There are 3 organizations that maintain the blockchain. The Cardano Foundation oversees the overall lifecycle of the coin. Promoting, standardizing, and protecting the core protocol as time goes by.
Widely considered the motherboard of the protocol, Input-Output Hongkong (IOHK) conducts the research needed for the protocol to improve and span the test of time. With a cutting edge team of engineers and developers working around the clock to streamline the tech and integrate the protocol in the mainstream market.
Then you’ve got the business development wing of the team run by Umurgo. This entity funds the enterprise and creates global opportunities for the utilization of blockchain technology.
The Future of Cardano
Cardano is fast on it’s way to completing their visionary project and becoming one of the most widely adopted cryptocurrencies in the world today.
Defining their end vision according to stages, named after world changing visualries of old, the team has passed through the Byron, Shelley and Gorguen stages and currently sits on stage four of the companies overall development, affectionately known as the “Basho'' era.
The Basho era will focus on perfecting the networks scalability and interoperability, with a keen attention given to improving the underlying performance of the network to further support the incoming developments that are planned to be implemented by the last stage, the Voltaire era.
In the not so distant future, Cardano envisions itself as a fully self-sustaining system, thriving in a decentralized age.
With their cutting-edge protocol solutions, ultra-smart contracts and constantly rising market price, Cardano’s future holds high expectations. With the world watching, all that’s left to do is wait and see whether expectation will indeed become reality in the age of Cardano (ADA)
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