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Cardano is a third generation decentralised blockchain platform, the design is based on Proof of Stake consensus, making the design significantly more efficient than classic cryptocurrencies with PoW. The Cardano project is highly scalable, while maintaining low energy consumption. Find out what the project is, and the current ADA rate.
How much does a Cardano (ADA) cost?
Cardano cryptocurrency is a project with an academic approach, its development is closely coupled with a scientific philosophy and numerous academic studies. The project is extremely well-liked by institutional investors, mainly due to its vision of the future of IOHK (Input Output Hong Kong) and the applications already present. It is worth mentioning that Cardano's blockchain is involved, among others, in the modernisation of education in Ethiopia.
The growth of Cardano and Cardano Foundation is not without impact on the capitalisation, which is , placing ADA at the top of the ranking in terms of market capitalisation.
How much dollars for ADA? Cardano cryptocurrency exchange rate (ADA USD) in a 24-hour period
The current price of Cardano is , which means that in the last 24 hours the ADA has changed its price by .
How much PLN for ADA? Cardano (ADA PLN) exchange rate during 24h period
On the Polish Cardano (ADA PLN) markets, the current price is , which means that the price of ADA paired with PLN has changed by in the last 24 hours.
What is Cardano (ADA)?
Cardano is a decentralised project, a blockchain platform that originated as an energy-efficient token. Cardano's goal is to become the most environmentally friendly blockchain platform - this is why the project is based on Proof of Stake, more specifically the Ouroboros consensus, which is the first secure PoS protocol, as proven by academic research.
Every Cardano goal, and every step forward in the project, is based on a range of academic research. This has earned the project the nickname of an academic cryptocurrency - each phase of development is researched and reviewed by academics, with insights based on real-world evidence.
The project is an alternative to Ethereum, so the smart contracts are refined to a high - academic - level.
Cardano is an updated version of Ethereum, according to Charles Hoskinson, the project's creator.
This cryptocurrency is essentially decentralised finance, thanks to Cardano users will bypass intermediaries such as banks and other financial institutions, and will be able to transact directly with other individuals and entities on the network - without authorisations from superior institutions.
With this approach to decentralisation, Cardano users will be able to benefit from loans (both taking and giving them), online trading and insurance - all bypassing the existing central authorities.
Currently in circulation is ADA.
How does Cardano (ADA) work?
Cardano's native cryptocurrency is Ada, named after 19th century mathematician Ada Lovelace, who is seen as the first computer programmer. Ada is designed for a secure exchange of value, with no intermediaries or validating party. The idea behind ADA is quite similar to that of Satoshi Nakamoto and similar to Bitcoin - Cardano's blockchain is transparent and all historical transactions are securely and permanently stored within it.
ADA holders can contribute to the Cardano network - by using PoS consensus, growers can delegate their ADAs to run the network and approve transactions. Each user then receives rewards from a stipulated pool.
However, this would not have been possible if it were not for the specificity of the cryptocurrency,
Premine - all ADA was previously mined and then distributed and sold in an ICO. This cryptocurrency cannot be mined - it can only be acquired through the Staking process.
The maximum ADA supply is 45,000,000,000 tokens.
Who created Cardano?
Cardano was created as an answer to Ethereum. Charles Hoskinson - co-founder of ETH - saw how ineffective the PoW consensus was. He began developing Cardano in 2015 and launched the project in 2017.
Charles Hoskinson is also a mathematician and entrepreneur and has been professionally involved in technology-related start-ups for years. He gained experience at Invictus Innovations and Ethereum, and is currently building IOHK. He has also held various positions in the public and private sectors - including being chairman and founder of a committee dedicated to cryptocurrency-related education.
Michael Parson - co-founder and former director of the foundation - was also an important figure in Cardano, whom Hoskinson accused of lacking vision for the project's development, lacking transparency in operations and confusion about Cardano's governance structure.
Where to keep the ADA?
In a decentralised world without an overarching institution, no one will take care of your security. You and only you are responsible for maintaining a high level of security for your digital assets. Cardano's blockchain will protect you from attempts to steal your funds online, you just need to take care of the safe storage of your private keys, how do you do that and what do you use?
Hardware wallet for Cardano
Even the latest news indicates that hardware wallets are the safest way to store any cryptocurrency. Bitcoin, Ethereum and Cardano are most secure on these specialised devices, which are safe from attempts to steal the private keys that protect your cryptocurrency online.
The most popular devices come from Trezor and Ledger, but the D'Cent, a device that looks like... Ipod.
Online wallet for Cardano
Cardano offers users two official wallets - Daedalus Wallet and Yoroi Wallet. Both wallets are available for Windows, macOS and Linux operating systems. They provide a high level of security and are designed in such a way that users can easily secure and use their cryptocurrency.
Yoroi is also available for mobile devices and as a browser extension. It is a lightweight wallet whose manufacturer (Emurgo), praises its security proven in audits.
A frequently used alternative is Exodus Wallet, which you will install on both mobile devices and desktop ones. The interesting thing about Exodus (which supports multiple cryptocurrencies) is that it allows users to delegate ADA for stacking.
Cryptocurrency exchanges as a wallet for ADA
Cardano (ADA for short) is very often bought for investment and speculation purposes, which is why many investors, store their cryptocurrency on a cryptocurrency exchange for an extended period of time. While exchanges are the least secure way to store ADA, they allow investors to react quickly to an increase or decrease in the price.
If you intend to hold your ADAs on the exchange, secure your account with two-step verification and new IP verification. You should also set up email withdrawal confirmations - this will minimize the risk of an unwanted withdrawal by an undesirable person.
Is it safe to invest in Cardano (ADA)?
Cardano is a project looking to the future. The high level of interest in this project in 2021 leaves little doubt that other cryptos - including Bitcoin and Ethereum - will be threatened by the academically planned development of the ecosystem being developed by Charles Hoskinson.
ADA is low-energy and simple to trade for DeFi and smart contracts, making it one of the most useful digital tokens today, making it an attractive option for investors looking to gain exposure to developing and cutting-edge tokens from the cryptocurrency market.
There are also downsides to the project. One of them is the plan to introduce a voting system for token holders. According to Vlad Zamfir (a researcher at the Ethereum Foundation), voting on the network could be dangerous, as users unfamiliar with the technology could make the wrong decision, forcing a change on the nodes.
Cardano's problem is also its creator and the mind behind the whole project - Charles Hoskinson - is a controversial figure whom internet users describe as... an egotist. There are many different theories floating around about Charles' character, but all of them may just be an attempt to smear the creator and influence ADA valuation.
How to buy Cardano (ADA)?
ADA has been in development for years. the project has attracted huge interest from investors, which is clearly illustrated by the capitalization. The long presence and high interest from the community has resulted in ADA being available on many cryptocurrency exchanges - including OKX, FTX, CoinTiger, and Bybit.
How much ADA? Cardano Calculator
The currency calculator on Eger is a representation of how much academic cryptocurrency you would buy with a certain amount of money. The data in the calculator is refreshed in real time, so you can be sure that the fiat - ADA pair is up to date.
The text is not investment advice and Bitclude (Egera) is not responsible for its misinterpretation and use as an investment aid.