Talking about Cardano is talking about a decentralized application platform. with great similarities to Ethereum, which has its own token, the well-known ADAThis cryptocurrency project is recognized for its intellectual origin, since it has behind it a group of academics who They laid their foundations on mathematical and philosophical principles.
The academicism with which the Cardano blockchain was designed starts from its own name, because it is inspired by Girolamo Cardano, the mathematician and 16th-century Italian polymath, who contributed significantly to probability theory and algebra, while his ADA token pays tribute to Ada Lovelace, mathematician and pioneer in computer programming, who was also the daughter of the poet Lord Byron.
BUY CARDANOThe double name originating from thinkers and pioneers of numbers and programming reflects the precision with which this cryptographic project was imagined and subsequently designed and executed, which has yielded results because currently part of the top ten of virtual currencies.
According to data from Coinmarketcap, at the time of writing this note, the ADA token is located at the ninth place among the top 10 digital currenciesThe market. The ADA price It is quoted at $0.6936, with a market cap of $24.437 million and a 768-hour trading volume of $24 million. The circulating supply of tokens is 35.242 billion, while the maximum supply is 45 billion ADA.
An ADA in the crypto universe
The ADA functionalities, Although they are typical of virtual currencies, that is, to serve as a means of storing value or carrying out transactions of sending and receiving money, they also has very distinctive applications.
It is the case that it operates under a Proof of Stake (PoS) protocol, in which users who stake ADA are rewarded with more cryptocurrency. This feature contributes to network security, while giving decision-making power to all holders of the currency, since ADA holders have the right to vote on changes to the protocol, giving them an active role in the development of the project.
BUY CARDANOAs for some ADA token properties, highlights that its blockchain, Cardano, was designed to find solutions to typical problems in the crypto industry, such as:
- Enhanced Security based on mathematics, to minimize attacks.
- Separation of accounting and computational layers.
- Un secure voting system for token holders.
- Infinite scalability thanks to its consensus mechanism.
How does Cardano work?
The platform uses a Layered blockchain structure. For example, the Settlement Layer allows Fast and economical transactions with ADA, while the Computing Layer facilitates smart contracts and advanced features like recognition of identity.
The block chain also It has the PoS mechanism, which is more energy efficient, allowing processing 250 transactions per second, which places this blockchain well above the 7 transactions per second that Bitcoin can execute or the 30 operations per second that Ethereum is capable of performing.
BUY CARDANOOne positive point is that as the network continues to update, transaction speeds will continue to improve.
It should be mentioned that Cardano adopted the Ouroboros Proof of Stake protocol, which secures the network and rewards those who participate in the staking system. This scheme encourages equitable participation among ADA holders.
Furthermore, Cardano has its own wallet, Daedalus, which allows users to manage their funds with transparency and participate in the staking system to obtain rewards.
Advantages, disadvantages and the future of the project
When reviewing the main advantages of blockchain, among its Its strengths include its scalability, multi-layer security, speed of transactions and its ecological approach; while the challenges involve having high expectations that are not always met.
It is added that failed to carry out one of his most important predictions, such as having numerous assets on the network by 2021. His academic vision has also generated criticism, which could affect his development, but for now It is predicted that ADA reach a minimum of 2,0900 billion euros by 2027 and 6,9200 euros by 2032, reflecting positive long-term expectations.
