Cardano Returns 150% in a Month and became the World’s Third Largest Crypto.

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada.

Proof of stake  protocols are a class of consensus mechanisms for blockchains, thus these systems do not incentivize extreme amounts of energy consumption, even significantly less energy than proof-of-work chains like Bitcoin or Ethereum.

Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson, and his purpose was to use design principles intended to overcome issues faced by other cryptocurrencies, such as scalability, interoperability, and regulatory compliance.

Within the Cardano platform, Ada exists on the settlement layer. This layer is similar to Bitcoin and keeps track of transactions. The second layer is the computation layer. This layer is designed to be similar to Ethereum, enabling smart contracts and applications to run on the platform.

One of the key aspects is that Cardano aims to implement decentralized finance (DeFi) services in 2021 with an upgrade to enable smart contracts and the ability to build decentralized applications and a specialised smart contract language, Marlowe, designed for non-programmers in the financial sector.

Cardano’s smart contract languages allow developers to run end-to-end tests on their program without leaving the integrated development environment or deploying their code.

To sum up the way Ada works

A decentralized cryptocurrency that can be easily used by non-specialists as a base to build promising and persistent projects, added to the fact that its purpose is to allow non wealthy people, organizations, governments,… To create a healthy and solid financial environment.

Not even mentioning the fact that its decentralized system allows to “stake” your ADAs, meaning completely safely delegate to one of the numerous nodes a part of your currencies to earn some more tokens. In this setup, those who own the token, known as stakeholders, validate transactions instead of miners.

Large stakeholders can earn an “interest” of 6.59% per year by running a stake pool. Those with smaller stakes can also delegate their Cardano tokens to a stake pool, earning roughly the same gross return before a commission of 3.91%.

Cardano has reached the 3rd rank in crypto performances behind Bitcoin and Ethereum.

All these aspects are the reason Cardano has reached the 3rd rank in crypto performances behind Bitcoin and Ethereum. To understand the incredible evolution it has had within a year and a half, one simple figure : its exchange rate was at 0.08 € in october 2020, and has reached 2.11 €, which represents + 2636.5 % value ( since its launch in sept. 27, 2017, the token has returned a stunning + 7,080% )… And raised by + 126% this last month.

But it’s only the beginning. Contrary to a lot of cryptocurrencies, Ada purpose and mechanic has always been to build the most flawless coin, at the cost of short term profit, and never tried to rush any of the phase planned on its development schedule; this brought worldwide specialists-analysts to give their trust to Ada, considering the healthy and brilliant way Hoskinson and co-founders meant to raise their crypto-child.

Optimism is rising that new technological enhancements will allow smart contracts on Cardano by its announced goal of September 12. That will enable its network to offer lucrative services like DeFi, where Ethereum currently dominates. The ADA token now has a market value of more than $69 billion – bigger than all rivals except Bitcoin and Ether.

Every indicator shows that it’s only the beginning and nobody knows how far it can go. Who would have thought in 2010 that Bitcoin, that was 0.1$ worth, would reach around 50.000 $ exchange rate today ?

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