“Known as The Internet of Blockchains, Cardano is not the typical cryptocurrency. It’s an ambitious and fascinating project that began in 2015 and that aims to overcome the achievements of both Bitcoin and Ethereum, two of the crypto giants…”
Coin Name: Cardano
Circulating Supply: 25,927,070,538 ADA
Official website: https://www.cardanohub.org/en/home/
Official Wallet: https://daedaluswallet.io/
Introduction to Cardano (ADA)
Cardano is not the typical cryptocurrency. It’s an ambitious and fascinating project that began in 2015 and that aims to overcome the achievements of both Bitcoin and Ethereum, two of the crypto giants. By this we mean that Cardano wants to join together the advantages of being a currency, along with the benefits of being a platform.
The ambition of Cardano is to bring together these two worlds, by dividing it’s protocol in two layers, making the separation of accounting and computation. In the first layer we find the transactions, while the other is destined for smart contracts.
This makes Cardano a more complete cryptocurrency, and more flexible for the necessary upgrades. To make this happen, the Cardano team, instead of a whitepaper, has a peer reviewed research made by a group of developers and academics, what just means that the paper was reviewed by a decent number of overqualified people.
Cardano has taken into consideration in its design, a long-term perspective on improving cryptocurrencies, on their use on mobile devices, on the need of multiple assets on the ledger, and the experience from the over 1000 existing altcoins.
If we know that both Bitcoin and Litecoin are cryptocurrencies, we also acknowledge that Ethereum and Neo are platforms. Cardano is trying to put together the simplicity of a currency protocol, and the flexibility of a platform.
Sounds really good right? But is this a reality or a project? In fact, this is far from being already in production. Their PoS protocol is still a few months away from being implemented, and the smart contract platform doesn’t has a release date just yet, and this means that no dApps or ICOs can happen in Cardano just yet.
At the same time, the issues Ethereum has as a platform that Cardano aims to solve, can be fixed in one year time, when it’s expected for Cardano to be up and running fully. So, if we are thinking Cardano is worth the investment, the answer is a big yes, but the question is when.
Their strong team and network, as well as their community, prove the project can be taken to its term successfully. No other currency has a roadmap like Cardano does, but for real success to appear, a coin needs to have users, and this won’t happen anytime soon in terms of platform. So, for now, the only thing fully working for Cardano is the send and receive of ADA.
This is a brief introduction to Cardano, but if you want to know more about the coin, what people are saying about it, technical details, jump right in any of the links we present below. They are well worth reading before investing!
Feb 19, 2018: $0.386930
Jan 19, 2018: $0.649544
Dec 19, 2017: $0.520268
Nov 19, 2017: $0.026243