Cardano cryptocurrency gained prominence ahead of a new roadmap release coming in the next days. But just as ADA had exploded to a peak above $0.15, the market mood turned and coins across the board lost value and fell on panicked selling. Even after the crash, Cardano was up 265% in one week, after spending months with a depressed price around $0.03. Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world.
Cardano with an increase of 150 percent within the last 24 hours
This currency is specialized in smart-contracts, ie contracts written using the cryptography. Unlike Bitcoin – to confirm the transaction is not here used algorithm Proof of Work, which does not rely on mining. In this case, then the tokens create the next blocks in the chain. The Cardano project aims to establish a smart contract platform focusing on “more advanced features” and this to be the first blockchain platform to have evolved out of a scientific philosophy and a research-driven approach.
According to the media, Cardano’s team plans to build a wallet capable of running decentralized applications on the blockchain so it’s nothing we haven’t seen before either. It will be interesting to see how this project evolves in the future, yet it is still unclear why there is such a major demand for ADA right now other than pure speculation.
Cardano ICO is secure and reliable
The Cardano blockchain is built from scratch in a new functional programming language known as Haskell that allows for code to be written in a more secure and reliable manner as it has a mathematical approach which is a unique security protocol has been subjected to rigorous peer review and it was accepted into Crypto 2017.
Ouroboros facilitates the creation of sidechains and enables the network to change its method of generating numbers which are used to protect the privacy and security of its users. It also allows for delegation based on a user’s stake and provides a better data structure.
Cardano aims to become the new go-to platform for the creation of smart contracts and it has eveloped an entirely new language for its higher assurance applications called Plutus, which is loosely based on Haskell.
Is it worth investing in?
The Cardano platform is still in development with IOHK stating that the full rollout will take up to 2 years. People say that ADA coin is a long term coin. If you buy it – don’t sell it at least 1 – 2 years – no matter what Cardano is “slow growth” coin, because it is academics and 95% of all investors don’t understand what is gong on.
Cardano has alot of positive potential, and it could be said this crypto technology can be successful in the East Asian market’s specifically Japan.