Cardano is not just a cryptocurrency, but, it is a technological platform which is capable of running financial applications which are now used all over the world by individuals, different institutions and even governments. It has begun in 2015 as an effort to change the way cryptocurrencies are designed and developed.
What is Cardano?
As the platform is being constructed in layers, the system has the flexibility to be more easily maintained and allow for upgrades by way of soft forks. Cardano’s multi-layer protocol performs advanced functions and has at its foundation a settlement layer that is elegantly linked to a control layer. The settlement layer will have a unit of account, while the control layer will run smart contracts and will be programmed to recognise identity, assisting compliance. Cardino is ultimately an open source and patent free. Cardano can also run decentralised applications, or dapps, services not controlled by any single party but instead operate on a blockchain.
This is the first blockchain project that developed from the scientific philosophy. This is the only one that is prepared by the teamwork of some academics and engineers. The most important feature of Cardino is that it can balance the need of users with those of regulators and in doing so it combines privacy with regulation. The main attraction of Cardano is that its new style of regulated computing will bring more significant financial inclusion by providing open access for all to excellent financial services.
Cardano (ADA) Price Prediction 2018
Cardano shot into the top 20 within hours of trading and has consistently featured in the 20 most significant currencies by market value. Its current market capitalisation stands at $1.2 billion with its current market price being a mere $0.04. The Cardano platform is still in development with IOHK stating that the full rollout will take up to 2 years. The current experimental platform is called Byron, and the more advanced platform known as Shelley is expected to have come early next year. By then, it will already be too late to invest in Cardano as its price will have shot up. This is the best time to invest in Cardano to reap maximum profit. The future is indeed bright for this currency.
Cardano (ADA) – The Cryptocurrency
Every blockchain project has a token of value commonly referred to as a cryptocurrency. Ada is the cryptocurrency on the Cardano blockchain. With Ada, holders can do the transactions between friends, pay for a good or service, deposit funds on an exchange, or enter an application. To perform a transfer on the settlement layer requires your own Ada, or acquire Ada through an exchange. It will also be the native token to be used in applications built on the computation layer.
Daedalus wallet for Cardano (ADA) Coin
Each cryptocurrency requires a “wallet” to store Ada. Likewise, Daedalus is the wallet which is a software application that can be installed on any computer or smartphone. Daedalus is a highly-engineered wallet with advanced security features that were developed by IOHK specifically for the Cardano blockchain and protected your assets with the most advanced cryptography. In the future, Daedalus will not only support Ada but also the other cryptocurrencies such as Bitcoin, Ethereum Classic and many more.
Cardano Wallet (Daedalus): Important Feature
- Encrypted private keys and spending passwords, offering protection against security threats such as malware.
- Wallets can be exported to paper certificates, giving the maximum security option of placing funds in cold storage.
- Ada redemption is built directly into Daedalus and supports encrypted and unencrypted redemption certificates.
- Configurable transaction assurance level monitoring, allowing users to be sure when transactions become irreversible.
Cardano Daedalus: Video Tutorial
Ouroboros: Blockchain Protocol
Ouroboros is the new proof of stake algorithm used by Cardano, which determines how individual nodes reach consensus about the network. Ouroboros eliminates the need for an energy-hungry evidence of work protocol, which stands as a barrier to blockchain scaling up for much more extensive use.
The algorithm is a crucial part of the infrastructure that supports the Ada cryptocurrency and is a significant innovation in blockchain technology. Designed by a team led by IOHK Chief Scientist, Professor Aggelos Kiayias, Ouroboros is the first proof of stake protocol that has mathematically been shown to be provably secure, and the first to have gone through peer review through its acceptance to Crypto 2017, the leading cryptography conference. The level of security demonstrated by Ouroboros compares to that of Bitcoin’s blockchain, which has never been compromised.
How to Buy Cardano?
You can buy, sell or trade Ada through digital currency exchanges. Bittrex, Binance, Upbit, Connect are the exchanges that currently list Ada; much more will be added over the coming months. That the upcoming, exchanges will be announced soon on the official site.
Ada will also be available at a network of ATMs in Japan. The system is planned to grow to about 25 ATMs within a year of Ada’s launch starting with five locations.
Cardano is not available on any of the Indian cryptocurrency exchanges for direct purchase. So, one would have to purchase Bitcoin/Ethereum and then exchange it for Cardano. To Exchange Bitcoin to ADA coin or Ethereum to ADA coin you have to trade option then the select amount in Bitcoin which automatically converted into USD and click on continue button then you Cardano coin but as we recommended above Ethereum charges fewer fees than Bitcoin while Exchanging.
Cardano (ADA): Features
Cardana often referred to as the “Ethereum of Japan” is a decentralised, fully open source blockchain system. The founder of Cardano is Charles Hoskinson, one of the co-founders of Ethereum. The ICO of Cardano had 90% participation from Japan. That’s why it got such a nickname.
Similar to Ethereum, Cardano is developing an advanced smart contract platform that includes a new Proof of Stake methodology offering supposedly more sophisticated features and protocols than Ethereum.
- New Proof of stake method called Ouroboros
- More features and protocols than Ethereum
- Founder previously co-founded Ethereum
- Cheap and efficient transaction systems