A new cryptocurrency star lights up in the cryptocurrency industry almost every day. Sometimes this star burns brighter than the previous digital giants. One of the recent discoveries of this type was the project Cardano, which should be given special attention.
- Definition of Cardano
- History of Creation
- How to Buy Cardano (ADA)
- How to Mine Cardano Cryptocurrency
- How to Create ADA Cryptocurrency Wallet
- Cardano Cryptocurrency Rate
- Outlook and Forecast for 2018
Cardano is a decentralized platform, based on the blockchain technology. The intra-platform currency is ADA token, which quickly gained popularity and demand among traders and investors after the launch. The price of the new cryptocurrency is increasing daily, which allowed its project to enter the top-10 of the most capitalized concepts on blockchain.
The creator of the project and the cryptocurrency is a well-known personality in the cryptocurrency industry, the former leading specialist of Ethereum, Charles Hoskinson. The incentive for creating Cardano was the need for developing markets in a decentralized economy and the democratization of finance.
The operating of the idea itself is realized by combining the activities of three regulatory agencies with the corresponding missions, namely:
- A company Emurgo, which builds a venture structure inside the Cardano ecosystem and promotes the Cardano blockchain application;
- An engineering company IOHK. The project deals with the construction of the Cardano blockchain;
- The Cardano Foundation which deals with the standardization, protection and promotion of the Cardano technology.
You can buy digital coins ADA only on such cryptocurrency exchanges as Binance or Bittrex. Cardano tokens will soon be available at cryptocurrency ATMs in Japan. Currency holders of the platform are able to receive a Cardano debit card, which will provide the opportunity to use ADA just like Bitcoin or Ethereum. You can track the flow of funds using the project application.
You can obtain ADA tokens by mining. To do this, you do not need Classic PoW (mining new blocks). The fact that the Cardano blockchain has its own PoS lets the developers mine ADA without supercomputers.
The mining of Cardano currency has the following advantages:
- provides an easy way to earn money;
- does not demand to use expensive hardware;
- does not consume much electricity;
- is stable in the process of generating blocks.
It is impossible to make any transactions with cryptocurrencies and store them without a cryptocurrency wallet. The developers of Cardano have created their own digital wallet, which is available for download on the official website of the platform. It is called The Daedalus Wallet.
At the moment, only users of Windows and MacOS can use the “native” wallet ADA.
Cardano cryptocurrency was launched on the 1st of October, 2017. The starting price for one token was $0.02. The cost at the time of writing (the 6th of June, 2018) increased to $0.21. In the history of ADA, the maximum price jump happened on the 4th of January, 2018 when the rate was fixed at $1.28 per one digital coin. Experts give positive predictions for the future of Cardano.
Cardano has every chance to move the leading cryptocurrencies and take the leading position, as for the prospects. Some analysts expect an increase in the cost of the ADA token by half by the end of 2018. However, for the time being it’s not worth talking about the price increase of the coin over $5.
Serious price jumps are expected in 2019, as this year developers will release all planned products and updates.