Cryptocurrency Cardano (ADA): overview, prospects and forecast + course, online chart and video on installing a Cardano storage wallet

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Cardano is a decentralized public blockchain network and an open source cryptocurrency project. Cardano is developing a smart contract platform that would offer users more advanced features than any of today’s other protocols. It is also the first Blockchain platform, the idea of ​​which originated from scientific philosophy and developed thanks to a research approach. The team consists of many experienced researchers and engineers from different countries of the world.

On April 17, 2018, the Binance exchange (binance.com) listed Cardano (ADA) and opened trading for ADA/BDB, ADA/USD pairs.

Cryptocurrency Cardano (ADA) – what is it

Cardano runs on the innovative Ouroboros protocol, the first Proof of Stake blockchain protocol with strict security rules. The security of the platform is comparable to that of Bitcoin, but provides many more qualitative advantages of efficiency, thanks to the replacement of PoW with PoS.

Additionally, Cardano introduces a new Proof of Stake reward mechanism to maximize the likelihood of neutralizing attacks related to unfair distribution of funds. There is evidence of the practicality of the protocol in real-world operating conditions and the results of experiments in confirming and processing transactions.

Characteristics

Name Price Market Cap Supply Change % (7D) Performance
Cardano ADA
$0.46
$15,482,025,916.34 33467414432.211 ADA
-2.03%

Indicators of the Cardano cryptocurrency as of December 15, 2021:

CryptocurrencyCardano (ADA)
TickerADA
Capitalization40 087 672 334 $
Course (15/12/2021)1,25 $
Current issue32 066 390 668 ADA
Maximum emission45 000 000 000 ADA
Project sitehttps://www.cardano.org/en/home/
Reviewerhttps://cardanoexplorer.com/
ExchangesBinanceEXMO, OKEx, HitBTC, Huobi, ZBG и др.
Margin tradingBitmex
Mining algorithmPOS
WalletDaedauls
Transactions per second257
Block processing time0,33
Project launch year2015

Online chart ADA / USD

How to buy

The Cardano cryptocurrency (ADA) is a highly liquid coin and is in the TOP-10 in terms of capitalization. It is not difficult to purchase it and there are several ways:

  1. Cryptocurrency exchanges.
  2. Cryptocurrency exchangers.
  3. p2p exchange (transactions between people).

Popular trading platforms are Binance (Binance) and EXMO (EXMO). On the first one – the largest trading volumes, on the second – the ability to work with traditional money or fiat. For leveraged trading – Bitmex.

Instructions on how to buy Cardano on EXMO

  1. You need to register on the website exmo.me. In the process, we confirm the email and after logging into the account, we enable two-factor authorization in the “Security” section.
  2. We replenish the balance in a convenient way: by transferring cryptocurrency or using payment systems: Advcash, Payeer, Yandex.Money, Qiwi, Skrill, Neteller, Visa / Mastercard, etc.
  1. Then, go to the “Trades” section, select the required currency pair: ADA / USD, ADA / BTC, ADA / ETH.
  1. Create a buy order. There are two types of trade orders on Exmo: limit and market. In the limit, we indicate the quantity and price; in the market only the quantity, since the order is executed at the current cost and the orders in the order book will be liquidity.
  1. The purchased cryptocurrency is stored in the wallets of the exchange. You can withdraw it to the official Daedauls wallet.

How to buy or sell in exchangers

Online exchangers are a fast and profitable way to exchange or buy Cardano cryptocurrency for fiat money. The most popular payment systems are presented in them: cards (Visa / Mastercard / Mir); banks (Sberbank, Privat24 and others), e-wallets. For the operation you need:

  1. Select exchange directions.
  2. Fill out an application.
  3. Confirm the exchange and follow the instructions to perform the operation.

When buying, you should indicate the address of the Cardano cryptocurrency (you can get it in the Daedauls wallet or on the exchange); when selling: wallet, account or card number for receiving money.

For example, the exchange of the Cardano cryptocurrency (ADA) in the Baksman exchanger:

Description of the project, history of creation

Cardano is a project created in 2015 as an attempt to change the way cryptocurrencies are designed and developed. A certain set of innovations makes the ecosystem balanced and resilient, better taking into account the needs of users (and other systems seeking integration).

Like many other open source projects, Cardano’s cryptocurrency didn’t start with a massive roadmap or an impressive White Paper. Rather, it was a collection of some design principles, including:

✅   distribution of accounting and calculation levels;

✅   implementation of the main components of a multi-module system;

✅   participation of groups of scientists and developers;

✅   active use of expert knowledge and interdisciplinary teams;

✅   Fast interaction between White Paper, implementation, and innovative research needed to address identified issues.

✅   the possibility of a painless system update after the release;

✅   decentralized financing mechanism;

✅   long-term projects for the adaptation of cryptocurrencies for mobile devices

… and more than 10 other important principles.

From this jumbled set of ideas, the developers of the ADA cryptocurrency began to create an initial set of abstract functions. The result is an extensive library of IOHK documents, a mass of survey results, the Scorex project, a smart contract ontology.

Cryptocurrency peculiarity, technical implementation

Ouroboros is a proven safe variety of Proof-of-Stake. It currently has the most thorough security analysis of all cryptocurrencies.

First, a model is proposed that formalizes the problem of implementing a blockchain protocol based on PoS. The new implemented model focuses on robustness and consistency, two key properties of a reliable transaction ledger. As soon as one node of the system declares a transaction “stable”, the other nodes will also report it as stable.

Second, a new PoS-based blockchain protocol has been created. Parties can freely create accounts, receive and send payments. The rate changes over time. A simple implementation of the randomness protocol is used to increase the level of fairness in the project.

Advantages and disadvantages

Among the advantages of the Cardano cryptocurrency are:

  1. Democratic control of mining and transactions. Mining is controlled depending on the total capacity of the user’s equipment, and transactions – on the number of payments.
  2. The scientific basis for a protocol that simultaneously provides strong protection against hacker attacks and generates good traffic.
  3. Innovative developments are actively used to protect users and confidentiality of operations.

Disadvantages that not only users agree with, but also the developers themselves:

  1. the control system still needs to be improved;
  2. there is no organized observation;
  3. few opportunities for long-term and long-term planning.

Wallets

To use ADA cryptocurrency, you need to download the Daedauls wallet, it provides reliable storage of the currency. The service is reliable and multifunctional, focused on computers / laptops.

Like all crypto wallets, Daedauls allows you to send and receive cryptocurrency, as well as view the history of previous transactions.

Mining. How to mine Cardano (ADA)

The blockchain runs on an advanced PoS algorithm and does not require powerful hardware to support it.

To earn Cardano, it is enough to buy the initial amount on any cryptocurrency exchange and keep the funds in the Daedauls wallet. The more accumulation, the more regular profit will come in.

Prospects and forecast

Although Cardano has been around for several years, it is still in the testing phase. In this regard, the project can be analyzed based only on the declared technologies. According to experts, innovations of this kind have every chance of becoming in demand. On the other hand, the complexity of the technical implementation can stand in the way of progress.

An important factor that affects the popularity of a currency is how scalable the network will be. At the current stage, Cardano’s speed does not allow the system to compete with popular cryptocurrencies on the market. However, the developers are planning to integrate mechanisms and software, which will increase the parameter by several hundred times.

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