What is Cardano (ADA)
ADA is the primary coin of Cardano platform. Cardano is a third generation of blockchain technology, which is known to be more efficient compared to its alternative competitors. Cardano was launched by Charles Hoskinson @IOHK_Charles in 2017. Cardano is being built and updated in five stages; foundation, decentralisation, smart contracts, scaling and governance. Currently, Cardano is in the third stage of update.
Main characteristics of Cardano:
- It started operating in 2017
- It is the 4th world’s largest cryptocurrency by market cap, excluding stable coins
- ADA is the cryptocurrency used for Cardano platform, which is based on the third generation of blockchain technology.
- Cardano has wider application compared to Bitcoin and has a more efficient perfomance compared to Ethereum.
Cardano is considerably safe investment due to its platform’s functionality and promising performance it has provided. Cardano is undoubtedly one of the leading pioneers of crypto market due its high efficiency and promising future.
Things to consider before investing:
- Do your own research before investing in this coin
- Do not invest money in this market that you cannot afford to lose
- While less volatility has been experienced in strong coins like ADA, we still face major corrections every now and then.
ADA has been showing promising performance in the crypto market reaching its all time high in May 2021. It is predicted that Cardano will continue to grow as long as the crypto market is flourishing.