What is Cardano? Cardano is a smart contract platform that has the potential to become one of the most popular cryptocurrencies on earth. It was …
13 Reasons to buy Cardano ADA right now
The Cardano (ADA) altcoin is a top 10 coin, and it can be bought on exchanges such as Coinbase or Binance. It was created in 2015 by one Charles Hoskinson who previously helped found Ethereum and BitShares. Here are ten reasons why you should explore the possibilities for this cryptocurrency:
ADA has had over $1 billion USD invested into its blockchain technology since inception - The smart contracts integrated within the ledger function without any downtime while also being able to interact flexibly with other blockchains like Bitcoin - There have been no successful hacks against coins built on their platform thus far.
1. Empowering individuals over unaccountable structures
Cardano exists to redistribute power from unaccountable structures to individuals – and be an enabling force for positive change and progress.
2. Its a 3rd Gen Crypto Currency
Cardano is a third generation cryptocurrency that uses Haskell code and has a team of expert engineers.
3. Easy to Develop for
The ADA altcoin was designed to be secure, scalable, and easy for developers to build on.
4. Created from Scientific Philosophy
Cardano’s blockchain is the first one created from scientific philosophy- it’s been peer reviewed by leading academics in cryptography
5. Can be traded on 20 different exchanges worldwide
The ADA token can be traded on more than 20 different exchanges around the world
6. Backed by IOHK
It’s backed by an international organisation called IOHK which employs some of the best minds in computer science today.
7. Security, Decentralisation & Scalability
There are three core principles behind Cardano: security, decentralization, and scalability- all of which are necessary for any cryptocurrency to succeed long term.
You can buy ADA tokens with USD through many major exchanges like Coinbase or Bittrex (or you could just use Ethereum).
8. Authentication of medicine
Authentication of Pharmaceuticals - The World Health Organization estimates that plenty of medicines sold online can be categorized as fake or substandard; however, blockchain provides a solution by authenticating pharmaceutical products so doctors have more confidence in their prescriptions when writing them out to patients who need life-saving medication such as chemotherapy treatments.
Cardano ADA’s Wallet Daedalus is a universal advanced wallet which allows trading, exchanges and crypto to fiat transactions. ADA can be used on other wallets such as the Yoroi, Ledge and Trezor (Model T) wallet.
10. Recognised by Swiss Lawmakers
Cardano has been recognized by Swiss lawmakers.
11. Charles Hoskinson
Charles Hoskinson. Charles is a mathematician and was involved in both Bitcoin and was a co-founder of Ethereum. Charles hosts regular AMAs on YouTube and engages constantly with the community.
- Cardano has partnered with Shopify meaning that Cardano can be used as a method of payment across its stores.
- Cardano has parternerd with Travala.com to allow easy booking of hotel and travel accommodation using ADA
- Cardano has parternerd with Bondly Finance
- Wolfram Alpha has partnered with InputOutputHK to add data from Cardano’s blockchain to provide oracle services for Cardano.
- SingularityNET (The AI network) has worked with Cardano to move a huge part of its network from Etherereum to Cardano due to speed and cost issues of Ethereum.
Staking. You can stake your ADA from within the Daedalus app by picking a pool of your choice. This gives you a return on your stake over time and can be a source of passive income.
Cardano is an innovative altcoin with huge potential. The decentralised nature of the Cardano blockchain makes it secure, whereas its layered architecture provides scalability to provide a solid foundation as one tackles next generation issues in their quest for digital currency. This coin certainly has experienced leadership and will not falter when dealing with these challenges due to its high-performing team members who are devoted towards making this project successful.
Disclaimer: Cryptotravellers or the author are not a financial advisor and the information in this article is not financial advice and should not be construed in this way.