Cardano ADA, founded in 2017, is a cryptocurrency that can be used to send and receive digital funds. The Cardano team with Charles Hoskinson as the captain of the project hopes to eliminate the inefficiencies of Ethereum and other blockchain protocols and thereby build a better and stronger decentralized network, which we call for Blockchain 3.0. This is the first crypto project to evolve out of a scientific philosophy and is claimed by many crypto enthusiasts to be a project that represents the future of our financial system as we know it.
Cardano Smart Contracts
Cardano is more than just a cryptocurrency. It is a technological platform that will be able to operate financial applications that are currently used daily by private individuals, organizations, and governments around the world. Similar to Ethereum, Cardano is an intelligent financial and contract platform that unlike many cryptocurrencies, offers scalability and security through a layered architecture.
Ouroboros Proof-Of-Stake
Cardano uses the Ada cryptocurrency (ADA), which allows digital funds or assets to be sent and received. One of the benefits of holding Cardano’s ADA coin is that you can stake your portfolio which will receive a return in the form of a percentage of the total value of your investment.
IOHK (Input Output Hongkong) which is one of the teams working on the development side aims to make Cardano the most advanced smart contract platform that can provide comprehensive functionality through the invention of a new proof-of-stake (POS) method called Ouroboros to provide a more secure, efficient, and scalable smart contract system.
Trading & Storing ADA
Even though the Cardano project is not finished, you will find its ADA token available on multiple crypto exchanges such as Binance and Bittrex at attractive prices. For storing or staking ADA we recommend using Cardano’s native cryptocurrency wallet called Daedalus.
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