Cardano (ADA) Starts 2018 With A Bang
Cardano (ADA) has started the New Year on a positive note. Cardano is special because when you compare it with other cryptos, it is always growing. The digital coin (ADA) has recently joined other altcoins as their prices surged higher, defying the downtrend that has affected the who crypto space over the last few weeks.
Cardano’s profile is small compared to other prominent altcoins like Litecoin, Ripple, and others. Its recent progress, however, suggests that investors have started taking notice of its unique value options.
The platform is looking to deliver an advanced smart contract by pushing resources into research and development. At the moment, it is the only known cryptocurrency that utilizes stake algorithm that is approved by the academic community,
Even it is just receiving attention now, Cardano was developed a few years ago. The crypto was developed by Charles Hoskinson, a co-founder of the more popular Ethereum blockchain.
This is why few were surprised that the team uses a proof of stake algorithm known as Ouroboros and is working on going above what Ethereum has to offer.
Jesse Damiani noted that the Cardano (ADA) coins are looking to offer deeper features at an even cheaper rate while also offering similar investment appeal like the industry’s leading crypto Bitcoin.
Regardless of that, let us take a look at the reasons why Cardano is recording success of recent. To start with, Cardano is classified as one of the third-generation cryptocurrencies, and it makes use of an advanced technology than the other cryptocurrencies. Cardano has two layers, unlike Bitcoin.
The first layer is called the Cardano Settlement Layer which takes care of the official balance ledger alongside with the basic transactions.
The second layer is called the Cardano Compution, and it is where all the apps and smart contracts are built on. It is also where the Cardano gets decentralized from the CSL layer.
The most important feature of Cardano’s multiple layers is that it allows users to make more platform changes than what heavyweights Bitcoin, Ethereum, and others currently offer.
For new investors, Cardano (ADA) is a great cryptocurrency as the price is still relatively low. In addition to that, the virtual currency is expected to go above the current $1 in the coming months, with more investors expected to invest in it after that. All in all, Cardano is a worthy investment since it is still new with the potential to grow beyond its current status.