Cardano is an open source decentralized public blockchain and cryptocurrency project. Cardano works on developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is a research-first driven approach as well as the first blockchain platform to evolve out of a scientific philosophy which is highly secure. A large global collective of expert engineers and researchers make the development team of Cardano.
Cardano is not just a cryptocurrency, but it is a technological platform that is capable of running financial applications currently used every day by individuals, organizations and governments all around the world. Being constructed in layers, it makes the system flexible to be more easily maintained and allow for upgrades by way of soft forks.
Cardano has innovated regulated computing with a new style which enhances financial inclusion by providing open access for all. While Bitcoin and Cardano are similar to an extent, also there are many differences between them. The most significant difference is that Cardano uses proof of stake approach whereas bitcoin uses proof of work approach to reach consensus. This encourages honesty and long-term participation.
What is ADA?
Cardano coin is known as ADA, and while it might seem like it’s disappearing among the markets and left behind by Bitcoin or Litecoin, Cardano has actually been around since 2015. It was established by Charles Hoskinson, who was a co-founder of Ethereum and later participated with Cardano Foundation. It is also known as the “Ethereum of Japan” as almost 95% of the members in the Initial Coin Offering ADA were Japanese.
How to buy and sell Cardano?
The buying, selling and trading of ADA coins can be done via several digital currency exchanges. Exchanges that currently list Ada are:
Bittrex, binance, bitmex, upbit, coinnest
Ada is also available at ATM machines network in Japan. This network started with five locations, now it has been introduced to hundreds of them.
What is Daedalus?
To use Ada you must download Daedalus. Daedalus is a multi-platform wallet for the Ada cryptocurrency which is highly secure and HD (hierarchical deterministic). It is not only used to send and receive Ada, also the Daedalus wallet has many special features. These include:
- Offers protection against threats to security by using encrypted private keys and spending passwords.
- Gives the maximum security option of placing funds in cold storage by exporting wallets to paper certificates. Daedalus is inbuilt with Ada redemption which supports encrypted as well as unencrypted redemption certificates
- The transactions are monitored for assuring users when transactions become irreversible.
Features of Cardano
Cardano rather than beginning with a roadmap or an authoritative white paper, it holds a collection of design principles and best engineering practices. Some of the features of Cardano include:
- The accounting and computing are separated into different layers.
- Using highly modular functional codes by implementing core components.
- Post deployed systems can be upgraded without destroying the network.
- Developing a decentralized funding mechanism which will help in future work
- The design of cryptocurrencies have been enhanced to configure their working on mobiles
- Bringing stakeholders closer to the operations and maintenance of their cryptocurrency
- Keeping track of transactions to include optional metadata in order to maintain the needs of legacy systems
- It is a standards-driven process inspired by the Internet Engineering Task Force
- Explore the social elements of commerce
- Regulators can interact with commerce without compromising some core principles inherited from Bitcoin
Cardano price for today is $0.5632. It has a current circulating supply of 25.9 Billion coins and a total volume exchanged of $74,926,302. It has a huge market capitalization of around $14,589,664,737.53USD.