Home Tech Here is Why Cardano (ADA) is So Hot Right Now

Here is Why Cardano (ADA) is So Hot Right Now

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Cardano (ADA) –  is a multi-layer smart contract platform that utilizes blockchain technology and is similar to Ethereum because of its smart contract protocol. ADA is the token of the platform that plays a significant role in Cardano’s unique proof-of-stake consensus mechanism.

Charles Hoskinson, Cardano’s CEO, is no stranger to the cryptocurrency as before the ADA (Cardano) coin was on the cryptocurrency market, Hoskinson, along with Vitalik Buterin were both co-founders on Ethereum – now the 2nd biggest cryptocurrency in the world. Cardano is the 6th largest cryptocurrency in the world and currently has a market cap of over $5 billion.

When it comes to inexpensive power plays in an emerging market, investors looking for quick and exponential gains find themselves looking at alt coins. Cardano’s solidly composed platform is believed to be far superior to other crypto platforms and is almost too advanced to be implemented into some applications.  Pioneering a new approach to digital currencies in general, the team at Cardano recognizes the need for it to evolve and adapt and has therefore designed a system that can be upgraded by way of soft forks.

 Why will Cardano succeed while other blockchain protocols fail? 1) Academic rigor 2) Institutional support 3) Vision with pragmatism 4) Peer review 5) Ouroboros: a robust interoperable ecosystem able to scale https://twitter.com/cardanocom/status/963103163070013440 

Cardano is a very scalable blockchain protocol for both end-users and regulators and when Charles created it, he set for it to operate bigger and better than Bitcoin and Ethereum. Cardano (ADA) will be used in businesses and governments and will still be able to maintain the core foundation of blockchain the whole time: decentralization, privacy, and trust-less transactions. Cardano is the first blockchain project with multiple scientific and peer reviewed research behind it and is a blockchain that can be used as a method of payments. It allows smart contract based projects and activities to be built on top of the primary ’settlement” layer for ADA.

Cardano has maintained a strong position in the market, while other coins continue to climb there way to the top only based on hype and marketing. Cardano is the type of project that works in silence and manages to make noise in the community.

Cardano’s development team is working on further improving the platform and will be testing the limits of their Test Net before launching it for real.

 

Source: technewsleader.com