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Home»Crypto»What is Cardano (ADA)?
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What is Cardano (ADA)?

Crypto ShoreBy Crypto ShoreNovember 14, 2021Updated:December 25, 2021No Comments2 Mins Read
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Cardano (ADA) is a foundation based in Zug, Switzerland. This project’s key name is Charles Hoskinson and he is one of the developers of Cardano, aka ADA Coin. Cardano is one of the best projects with its third-generation decentralized proof-of-stake Blockchain; it offers low transactions fees opposite of coins such as Ethereum because the growth of Ethereum increases the energy use, but this does not count for Cardano. This foundation also offers smart contracts, and this feature allows developers to run end-to-end tests in their projects. One of the big implementations of Cardano is Decentralized Finance(DeFi).

Cardano platform runs on Ouroboros protocol which Cardano created in the foundation phase. It is the first Proof of Stake platform to be proved secure and informed by academic research. Cardano, also known with hardworking developers, has a large number of applications in the finance world.

What is Cardano trying to solve?

-Currently, developers including Charles Hoskinson are using mathematics to increase the security layer of Blockchain and more protection against attacks.

-Creating detailed and separated accounting layers.

-Secure voting system for ADA Holders.

-Slowing down of networks while the system is busy with transactions.

Why should you invest in ADA?

Compared to Bitcoin, Cardano is way more energy-efficient and has lower fees. While mining Bitcoins, people use high-end setups, which uses energy a lot, and are not suitable for the environment. While Cardano uses Proof-of-Stake protocol, so miners must put their crypto holdings at stake, this is way more energy efficient and does not harm the environment.

As for any other cryptocurrency, before you invest in them, you should always check what they provide and what they are planning for the future. No one wants to waste any time in a cryptocurrency that has no projects for the future. It is essential to search about a coin you want to invest in, there are too many coins out there, but unfortunately, not all of them have a chance in the future. But Cardano has a bright future, and it might be a good decision for your investment.

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