If you’re considering investing in Cardano, you’re in luck. Cardano’s influence on blockchain technology is steadily increasing and the platform is using its community as the main pillar that drives its agenda to an ordinary user. In doing this, they empower their community, and the brand gains popularity as stakeholders start to embrace this new exciting project. Many Cardano users are building up their ADA portfolios, and this result can be seen by looking at the price and Cardano’s growth in value. Contrary to other digital assets, Cardano has a very active community, spread over almost every country across the world. The goal of becoming a grassroots level cryptocurrency is to incentivize users to buy and hold their ADA; then use it to solve any of their real-world problems. Mass adoption of Cardano would most likely result in users making payments with virtually all outlets, presenting users with equitable opportunities.
Despite Cardano not being on everyone’s watch-list, It is one of the most advanced blockchain platforms available. As a result, Cardano became one of the most popular open-source projects relating to cryptocurrency. Many expert voices have constantly been stating that Cardano is due to become one of the most dominant forces in the market in 2018. Despite us still being in the early stages of the Blockchain technology revolution; more and more experts continue to claim that Cardano is definitely something people should keep an eye on. Investing in Cardano is something worth considering. Since it’s initial launch, Cardano took on the task of doing everything that Ethereum can do, but better.
IOHK (Internet Online Hong Kong) is Cardano’s main development team. Recently, they introduced a few network updates and a wallet. Following this, Cardano released their Test Nets. These are K-EVM; Cardano’s first Testate which went live on May 2018, 2018. And the IELE VM Test Net, which launched On July 30, 2018. Both of these Test Nets are an attempt to boost the Goguen project; One of the two core projects the IOHK developer team are working on. This project’s goal is to provide smart contract capabilities for the Cardano Blockchain. This went into action after the test nets were launched. Guguen is designed to deliver side chains; allowing users to transfer digital assets across two different blockchains without any third party involvement.
Charles Hoskinson, CEO of Cardano, states that the shift to a proof of stake consensus algorithm will be one of Cardano’s most significant feats. Paired with the Ouroboros Genesis, new Cardano users are able to “Bootstrap from the genesis block and do not need a checkpoint block, or any prior knowledge of the number of active users in the system”. This was not previously possible on other Proof of Stake distributed ledgers, which is what makes this feature a true turning point for this technology.
Hoskinson pointed out in a tweet that an immediate benefit of implementing PoS is that it uses a fraction of the computing power and electricity needed with PoW. As it stands, Bitcoin and various other PoW currencies continue to make headlines about the substantial electricity usage by miners. Cardano is currently attempting to implement efficiency as well as security.
The underlying idea of PoS is that miners will vote by “staking” their coins on the network. By doing this, users will slowly accrue interest in the form of newly minted tokens. These tokens are sent out at regular intervals for their participation. The PoS protocol incentivizes the userbase of its cryptocurrency to be regularly active on the network. In doing this, they will be assisting in the facilitation of transactions, securing the blockchain as a result. In a nutshell, investing in Cardano to generate more ADA would entail putting some or all of your ADA in a separate account, and letting it gain interest.
Yeah, we don't have to use more power than the country of Ireland to have our system run. I didn't want to copy that one
— Charles Hoskinson (@IOHK_Charles) April 26, 2018
And bitcoin is still a small system. Imagine a global scale system with billions of users? The feedback loop reinforces more power consumption not less
— Charles Hoskinson (@IOHK_Charles) April 27, 2018
As it stands, Cardano is still at the beginning of its journey. Be that as it may, the developers behind it (Brünjes, Hoskinson and the IOHK team) have a vast knowledge about crypto. They have a background and a strong know-how about the cryptocurrency industry. Despite cryptocurrency being about decentralization, the team behind it still has a strong impact on how the coin will develop over time.
If you see me trying to boost the price of Ada, then I’ve been compromised and sell all your Ada. Cardano will be valuable based upon hard work, real world use and the utility of the platform. I’m not here to make day traders rich. I’m here to change the world – Charles Hoskinson
I believe that the future of Cardano is very bright, and investing in Cardano is a good idea. The coin has been able to operate and solve problems better than many of its competitors. It’s almost as if once a year, a new potential cryptocurrency arrives aiming to make things better than the last. But only time will show which ones will thrive, and which ones will fade away. ADA has been getting many new investors on board for a while now. But with so many altcoins and ICOs scattered all over the crypto space, it’s hard to see what makes any of them different.
With all the updates coming to Cardano, ADA could possibly exhibit a price surge in the future. Despite the capriciousness of the cryptocurrency market, it could be speculated that with the current trends we’ve seen; Cardano could potentially lead the cryptocurrency race in the near future. Will you be trading ADA? If so, our cryptocurrency exchange platform offers no fees when trading ADA/BTC pairs.
This article is intended to educate and should in no way be seen as investment advice or an enticement to use the ice3x.com platform. Bitcoin is highly volatile with big profit opportunities but you should also remember that you could lose part or all of your investment whenever you take part in any high risk investment. Bitcoin trading is not a regulated industry in South Africa, which in itself carries additional risks. IF YOU ARE NOT AN ASTUTE BITCOIN TRADER, SEEK INDEPENDENT FINANCIAL ADVICE BEFORE MAKING ANY INVESTMENTS.