Once This Happens Cardano (ADA) Will Go To The Moon
Still, under development and exuding great potential, there is no doubt that Cardano (ADA) has had a good run since its launch in September 2017.
For most of the part, this new cryptocurrency has been a silent player in the crypto space coming the fifth position in the market with a market capitalization of $18 billion according to XBT.net.
Currently, traders are just starting to pay attention to this up and comer given its price growth of over 1000 percent since its creation. If that’s not amazingly fast growth, then nothing else is. But wait a minute, exactly what is Cardano about?
What is Cardano (ADA)?
Well, to begin with, Charles Hoskinson (the founder of Cardano and also a co-founder of Ethereum) came up with the cryptocurrency as a way of giving sustainability and balance to the cryptocurrency community. Its cryptocurrency (ADA), boasts of being the only one in the entire market to have a research-driven scientific and philosophical basis.
This simply means that it’s a Blockchain project that is regulated through rigorous peer academic reviews from programmers and scientists in academia.
The whole project is run as an open-source program by a nonprofit organization that has already partnered with a variety of academic entities with the purpose of reviewing and researching all concepts of its Blockchain network.
In fact, Cardano’s Blockchain development is underway with the help of a group of researchers from Lancaster University, seeking to find a sustainable funding method for the project’s future.
What features does Cardano (ADA) have to offer?
Cardano offers allot of solutions to the overall crypto space. Also known as the “third generation cryptocurrency” it seeks to solve the issues of scalability that Ethereum and Bitcoin have been dealing with over the years.
Check out what the teams at Cardano are planning.
Proof of Stake algorithm
Cardano uses a highly sophisticated proof of stake algorithm called Ouroboros. Unlike Bitcoin’s proof of work concept that requires more energy to process transactions, Cardano’s Ouroborous streamlines the whole process by appointing leader nodes to process the transaction, therefore, increasing speed.
Cardano Planning to launch a debit card for ADA
It would be quite a feat for most cryptocurrency enthusiasts to own a digital asset that they can actually use in the real world say for shopping or for making daily payments. For holders of Cardano, plans are underway towards the launch of a debit card.
If the announcements by the company are anything to go by, this future feature will not only be a plus for holders of ADA but also mark a milestone in the crypto space as many cryptocurrencies are struggling to achieve this level of utility.
Cardano changing how cryptocurrencies are being traded
Cardano (ADA) is currently working on ways of achieving cross chain interoperability in the crypto world. Basically, it hopes to achieve cross chain transaction that will see the problem of cryptocurrency exchanges that crush or charge high fees eliminated.
Furthermore, Cardano will also extend this feature to include global financial systems that will make it easy for cryptocurrency enthusiasts to exchange and transact in the real world.
Cardano (ADA) will regain 1$ before 31st January
With a long-term vision for developing its Blockchain and improving the utility of its cryptocurrency, there is no doubt that Cardano (ADA) will be a must watch.
However, it’s still very early in its development to determine whether the execution of the set plans will make an impact. For now, it’s a wait and see approach. With its price currently sitting around US$0.7, it could easily go past $1 again by the end of January.
For 2018, the true growth potential will be clear when Cardano’s platform is live and performing. Once this happens, it wouldn’t be crazy to think ADA could reach US$5 or even US$10 by the end of 2018.