Cardano (ADA) – what is interesting about this crypto currency and whether it is worth buying it
Cardano (ADA) – crypto currency, like many others – based on decentralized work and transparency. Launched in 2014 by a group of entrepreneurs and programmers. To be exact, then Cardano is the general name of the project, and Ada is the token, the currency of the service.
If you read reviews of other bloggers, you can find opuses like:
Cardano (ADA) has an increased complexity in alignment with existing protocols and can be considered the first block-platform, which uses scientific analysis and recent research of experts in crypto-currencies.
But we are not like that. In short: the developers looked at the shortcomings of bitcoin and ether and tried to eliminate them. However, do not think Cardano clone of the Ethereum.
The Cardano chip is that it’s a system in several levels. The level of the crypto currency, the level of smart contacts and, judging by the information, still all levels.
What does it give? Formally – there must be some stability and scalability, the possibility of parallel development of directions.
There is another view of the multi-level: the settlement mechanism is responsible for accounting, the management mechanism for smart contracts, the monitoring mechanism-identifies the identity of the user.
But this is a technical point. There are interesting moments in the organization.
There are at least 3 organizations that strongly influence the operation of this system:
- Cardano Foundation – are engaged in standardization, protection and promotion of Cardano technology (as it is possible to combine – it is not clear). Moreover, this fund has agreements with states and other institutions whose interests are affected by this project.
- IOHK is an engineering company working in the field of blockchain – these guys are engaged in the technical part of the blockade of Cardano.
- Emurgo – this organization works with projects created on the basis of Cardano (“in the ecosystem” as it is now fashionable to say).
As you can see, the approach here is serious – not bitcoin, which moves by gravity and not the Etherium, for which only Buter and the team are fighting (in fact – not so, there are many interesting people – editor’s note).
The community appreciated this approach (an excellent marketing move, among other things) and Cardano’s capitalization is growing very quickly.
The ADA Token is listed on many exchanges: https://www.cardanohub.org/en/buy-sell-ada/ (still, when there is a whole infrastructure that promotes).
In view of the scale and involvement of serious people, Cardano (ADA) is in demand.
There is a native purse Cardano – DAEDALUS WALLET.
It is considered safe and very convenient. In any case, if you invest in Cardano – it’s not wise to not keep funds on exchange exchanges, but to withdraw to your wallet.
Cardano uses the unique Ouroboros algorithm, and the principle of work is the Proof-of-Stake proof, which helps to reach consensus in a network with minimal energy costs.
Opinion: the growth of Cardano renders that there are large investors on the market who simply need “official” structures behind the currency. For them – these are some guarantees. Some fund in Switzerland is already causing a surge of interest in Asia. The market lacks “authorities”.