A quick look at cryptocurrency #8 Cardano
Today we're going to focus on a crypto, that recently got its' jetpack activated - Cardano
Cardano is a decentralized, public blockchain/cryptocurrency that enables us to build DAPPS and smart - contracts
Cardano has its' official wallet - Daedalus, which will be able to store more than just one coin in the future
This is another crypto, that will have Proof of Stake feature. At the moment we are in "BootStrap Era", when there are certain people controlling the web, but in the future we are going to enter "Reward Era", where all of the users will take part in it
Right now there is 25,927,070,538 coins in circulation, with maximum ammount being 45,000,000,000 - all of that will be mined in 24 years
This cryptocurrency originates from Hong Kong, but it's called Ethereum of Japan. The reason is that 95% of coins is being kept by Japanese investors
Blockchain has been created completely from scratch, it's not a fork or a token of any other currency
Cardano's website is the best that I have ever seen in crypto world. You can find absolutely necessary information If you want to invest into it, but there also are many details of details, including weekly report of every, even the smallest, proggress in working on this project. https://www.cardanohub.org/en/home/
This is a list of things that developers promised us to deliver:
- Currency avaiable to make payments
- DAPPS and smart - contracts platform
- Multisignature wallet
- Wallet enabling us to keep more than 1 currency
- Debit card connected with mobile wallet
What does it mean? That they have promised us everything, that the crypto world has seen so far. Is this possible? It is. Unfortunetaly, all of that is massively time-consuming and in my opinion other cryptocurrencies focusing on doing one thing (for example Lisk - DAPS) could win this race.
Let's move to the price
- Date of launch: 1st October 2017
- Starting price $0.02
- Lowest price above $0.01
- Highest price $0.14
- Current price $0.13
Investment aspect:
- Cardano is a great project, but I am afraid that it's a bit too ambitous
- Latest rise in price does't really implicate, that we could see something similar in a month or so
Personally I'm really interested in Cardano, but I don't hold it by myself. What about you? Let me know!
I have a very small stake. The team is strong and the technology is more mature than some of its contenders. With a low price now, it could grow a lot in 6 or 12 months.