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Cardano (ADA) - Research First Price, Change(24h), Reviews, Guides and more

Cardano is an open source, academically-reviewed smart contract platform similar to Ethereum.

Cardano (ADA) Market Cap

Name (Ticker)
Cardano (ADA)
Price (USD)
$0.0468262339164
Rank
27
Active Supply
25.9 billion
Total Supply
31.1 billion
Max Supply
45.0 billion
Volume(24H)
42.0 million
Marketcap
1.2 billion
Fun Name
Research First

Cardano (ADA) Graph

One Week Coin Price Graph

Pros of Cardano (ADA)

  • Open source
  • Low fees
  • Smart contracts
  • Staff involved with Ethereum

Cons of Cardano (ADA)

  • Overall lack of focus
  • There is no backing
  • Many other similar projects, so the project faces quite a lot of competition

Cardano (ADA) Introduction

Smart Contract Platform

Cardano is a decentralized public blockchain and cryptocurrency project and is a fully open source. Cardano is developing a smart contract platform that seeks to deliver more advanced features than any protocol previously developed.

Aged

The Cardano project began in 2015 as an effort to change the way cryptocurrencies are designed and developed. The overall focus beyond a particular set of innovations is to provide a more balanced and sustainable ecosystem that better accounts for the needs of its users as well as other systems seeking integration.

No Whitepaper

Unlike many other projects, Cardano did not begin with a defined whitepaper or a comprehensive roadmap. Instead, it embraced a collection of design principles, engineering practices and avenues for exploration.

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Cardano (Cardano) Network Structure

Cardano's source code is a fully open-source so any developers can build their projects on this excellent blockchain - Cardano utilizes Proof of Stake, which is more advanced than Proof of Work, as their consensus algorithm for validation. Their network is a two-layered system. The first layer is for recording transactions and the second is for deploying smart contracts.

Cardano’s algorithm called Ouroboros.

Ouroboros utilizes a Proof of Stake (PoS) approach to save on energy costs and enable faster transaction processing. Instead of having a copy of individual blockchains on each node (as is common in bitcoin), Cardano’s blockchain streamlines the number of nodes in a network by appointing leaders responsible for verifying and validating transactions from a collection of nodes.  Subsequently, the leader node pushes transactions to the main network. 

Twin Layers

The way they separate their layer into 2 different layers helps them solve problems independently. - The project has been built from scratch by great minds making it evolves day by day. Cardano is the first project to be peer-reviewed by people with excellent academic profiles

Cardano (Cardano) Platform

ADA Cardano Platform

ADA is the cryptocurrency of the Cardano platform, which can be used to send and receive digital funds. This digital cash aims to represent the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.

Unique Project 

The project is quite unique in the fact that it was the first project in the space to be built on peer-reviewed academic research. It is also one of the pioneers of the proof-of-stake consensus protocol and promises a number of advanced architectural solutions, including a multi-layered network, HD wallet, and a community-governed treasury.

Summary

Cardano is a general purpose smart contract platform and cryptocurrency. The project has some interesting features which we will cover in the following section.

 

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