Cardano (ADA)

The exchange rate of one ADA at 13:14 UTC is 0.4715$

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Cardano is a proof-of-stake blockchain platform: the first to be based on peer-reviewed research and developed with evidence-based methods. It combines groundbreaking technologies to provide unparalleled security and resiliency for decentralized applications, systems, and societies.

With a leading team of engineers, Cardano exists to redistribute power from the non-accountable structures to the fringes, to the individuals - and be the driving force for positive change and progress.

The Cardano network was launched in 2017. The founder is Charles Hoskinson, co-founder of Ethereum. The Cardano team currently consists of over 30 developers. At the time of its debut, ADA's capitalization was $600 million. Literally a year later, capitalization grew to $33 billion.

Cardano features

Cardano is a platform with its own ADA cryptocurrency. Cardano's goal was to create a platform for smart contracts, decentralized applications and tokens distributed during the ICO.

Cardano is a project with strong ties to academia and that is how it presents itself - as the first blockchain project based on academic methods and research. According to its creators, Cardano wants to be an above-average scalability platform that supports decentralization and the highest security standards.

Since we are talking about a project that aims to create smart contracts, it is important to note that its main competitors are EOS and Ethereum.

Specification:

- The “Proof-of-stake” algorithm, which is characterized by low computing power.

- This cryptocurrency cannot be mined.

- Offer is limited to 45 billion units. Slightly more than half of them is in circulation.

- It is characterized by deflationary pressure.

Cardano has two layers - calculating and cleanup, making it easy to debug and update.

All Cardano development activities are public and subject to academic peer review. The development of Cardano is planned in great detail in the form of a tight schedule. It is divided into five stages. You can find out where ADA is in development by searching the Cardano roadmap.

The price of ADA rose very sharply in 2021 from $0.17 to $2.45. It stands to mention that this is the fifth cryptocurrency by capitalization (as of August 2021).

Conclusion

Cardano is a project that can be considered very ambitious. A very strong team with a long-term vision is working on the project. The workplan is published and highlights Cardano's big plans. With these and other properties described above, Cardano seems like a highly promising project.