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Cardano ADA

cardano
Year 2017
Founders Charles Hoskinson
Origin Switzerland

Cardano (ADA) – is one of the most demanded coins in 2017-2018. It attracts new investors by the serious approach, scientific character and extensive functionality. The coin ranks number 9 by capitalization. It is available for purchase and exchange on several large cryptocurrency exchanges. A separate Daedalus wallet has been designed to store the coin.

Essence of the coin

Cardano (ADA) – is one of the 10 most popular cryptocurrencies with its key working peculiarities being transparency and decentralization. It got its name after Lord Byron’s daughter Ada Lovelace, who was the first ever women programmer.

This cryptocurrency encapsulated all the best features and took disadvantages of Bitcoin and Ethereum into consideration. To be more precise, the token is called ADA and Cardano is the name of the project that uses this cryptocurrency.

The system combines several levels at once: the cryptocurrency, smart contracts, and others. Its combination is aimed at promoting the project immunity, scalability and opportunity of multi-directional development. The system is headed by 3 independent companies:

Все вместе обеспечивает стабильную работу проекта, а профессионализм участников подогревает интерес к коину.

The story behind

The Cardano project has been under development by Asian investors and entrepreneurs since 2014. IOHK Company was responsible for creating and implementing the cryptocurrency and the system as a whole. Cardano Foundation is located in Switzerland and monitors development, security, and ecosystem in general. Emurgo Company deals with the commercial part.

In 2017, the ICO creators managed to raise 60 million dollars for the project development by attracting investors. ADA token became publicly available later – on September 29, 2017.

In 2018, the decentralization stage began. Up to the mid-2019, the works will be carried out aimed at increasing the system stability and compatibility.

Positive and negative reviews

Immediately after being introduced on the market, ADA attracted the interest of numerous investors. The majority of them gives the new token positive evaluation and mentions the following advantages:

Some users treat the new currency skeptically, doubting about not only reliability of cryptographic mechanism of the currency itself but also a potential of the whole platform. Investors mention frequent deadlocks of the wallet.

Development forecasts

The coin first became publicly available only on September 29, 2017. Then, its price slightly exceeded $0.02. Within only 3 months the token went up in price more than by a factor of 25. The record high was reached early in January 2018, when the price of one coin amounted to 1.15 dollars.

As for today, Cardano (ADA) exchange rate amounts to 0.08 dollars. After the rapid growth in January, the coin price keeps gradually decreasing. There are only minor growth spurts.

Despite the descending price trend, capitalization of the coin remains consistently high. The token is currently included in the top-10 best cryptocurrencies by this indicator, being ahead of such well-known currencies as Monero, Dash, and IOTA.

cardano

Making any kind of a forecast regarding ADA is quite a difficult task. According to the road map, up to the mid-2019, they will be exploring the protocol to eliminate mistakes. Analysts draw attention to the currency’s high potential. It is believed that the largest surge in interest will take place in the coming year 2019. In the current period, the maximum expected growth is up to 2-2.5 dollars.

In the long run, Cardano stands a good chance to sideline Ethereum by hitting capitalization amount of 50 billion dollars.

There are few specialists who stick to a pessimistic scenario, since scientific content of the project is to secure stability and high demand for the token. The latest news about breach in relations between IOHK and Emurgo on the one part and Cardano Foundation on the other can be considered alarming as well (October, 2018). This can have a negative impact not only on the current exchange rate but on the whole operation process of the platform.

How Cardano can be used?

Today, Cardano can be purchased on several cryptocurrency exchanges, including such giants as Binance, Bittrex, HitBTC. In Japan, the coin can be easily bought from special ATMs or exchange machines.

The system provides for the coin mining as well. It is supposed that 30% out of 45 billion coins will be received through mining, which is equivalent to 13.5 billion coins. A reward for each block amounts to 2,000 currency units.

The cryptocurrency owner can trade it on exchanges, sell or keep. In the long run, the last option appears the most promising. For storing the currency, the platform developers created a special wallet Daedalus. It is supported by such operating systems as Windows and macOS. Transactions are confirmed by passwords. In the coming days, it is planned to significantly broaden potential of the wallet and the system as a whole. Users will get an opportunity not only to keep several various cryptocurrencies in one place but also to possess a plastic card that will enable payment with instant exchange to a national currency.

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