Cardano (ADA) - a network and cryptocurrency created by scientists

Own platform, own cryptocurrency, a team of several dozen developers recruited mainly among scientists from universities. Cardano and Ada are the first cryptocurrency projects that are not created on the basis of business and IT cooperation, but scientific experience. And they have a specific plan on how to take over a quite substantial part of the market.

We continue the Forex Club portal series, in which we describe the largest, most known and most interesting crypto instruments in the world. Today it's time for the Cardano network and the Ada cryptocurrency, which can mess up the token market a lot.

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The creators of the Cardano network and the Ada cryptocurrency based on it have huge ambitions. They do not want to create another project that will duplicate the previous ones and will be distinguished only by marketing and a catchy name. Cardano aims to threaten industry leaders blockchainwhich include, among others EOS i Ethereum.

Scholars better than entrepreneurs

How to do it It's best to hire experts and in this case you've succeeded. A team of over 30 developers is primarily representatives of technical universities, researching the development of modern programming technologies on a daily basis. They are led by Charles Hoskinson, who was previously involved in projects that are currently very successful on the cryptocurrency market: BitShares (BTS) and Ethereum (ETH).

The approach to business is also to be academic. Cardano focuses on full compatibility with legal regulations in individual countries, and at the same time is to ensure high scalability of transactions. It is thanks to the Ouroboros algorithm, developed especially for this network, which does not need as much computing power as the "engine" Bitcoin.

However, Cardano also has disadvantages. Some developers do not like the fact that the web is written in a not very popular programming language - Haskell.

Ada cryptocurrency - operating principle and development plans

Ada is divided into smaller units. Lovelace is one millionth of a cryptocurrency. Ultimately, 45 billion Ada units will be traded. As of January 26.01.2020, 26, there are almost XNUMX billion of them. However, the next ones cannot be excavated - such as in Bitcoinie. Blocks are added by the Leaders, i.e. the owners of the largest number of units. They also take care of approving transactions. They are elected through a vote in which every cryptocurrency holder can participate. The number of votes depends on the accumulated funds, so it is necessary to gather Ada in order to vote for yourself. This is profitable because the transaction costs incurred by traders of cryptocurrency or paying with it for goods or services are remuneration for the Leaders.

Already during the creation of the network, five milestone steps were assumed that must be taken to conquer the market. Some have already been implemented. The creation and improvement of the Ouroboros algorithm behind us is responsible for security and decentralization. The second one is a plan that goes far beyond the current technological possibilities, because it focuses on securing the network against the possibilities that quantum computers capable of breaking the currently best cryptographic security will have. Another thing is to develop side chains in blockchain, which will allow you to create other cryptocurrencies on it, and secure the network and develop its scalability.

Issue only for trusted investors

If Cardano's development plans sounded encouraging to people interested in the cryptocurrency market, then - unfortunately - they had to do well with taste. Ada was not offered for sale to the public. The ICO lasted from 1.10.2015 October 1 to 01.2017 January 90, but the tokens could only be purchased by investors invited to the project. 5 percent of them covered companies from Japan, and 3,8 percent. from South Korea. Already in the first days of trading, they earned XNUMX thousand. percentage of invested funds. To this day, however, most of them have not liquidated their tokens, waiting for the further development of the platform. This is one of the charges against Cardano, because large tranches of Ada cryptocurrency are kept in the same wallets all the time.

Cardano Quotes (ADA)

Currently, Ada cryptocurrency can be traded on 44 stock exchanges around the world. As at January 28.01.2020, 0,04, one unit is worth $ XNUMX, which consists for capitalization of over USD 1,1 billion.  The peak of quotations took place on 04.01.2018/1/1,33 when USD XNUMX was paid for XNUMX ADA.