Cardano Review: What’s up With ADA??

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ā–ŗ Cardano Overview: https://www.coinbureau.com/education/cardano-ada/
ā–ŗ Best ADA Wallets: https://www.coinbureau.com/analysis/cardano-wallets-ada/

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ā›“ļø šŸ”— Helpful Links šŸ”— ā›“ļø

ā–ŗ Cardano Website: https://www.cardano.org
ā–ŗ IOHK: https://iohk.io/
ā–ŗ Emurgo: https://emurgo.io/
ā–ŗ Cardano Foundation: https://cardanofoundation.org/
ā–ŗ Cardano Roadmap: https://cardanoroadmap.com/en/
ā–ŗ GitHub: https://github.com/input-output-hk/cardano-sl/

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šŸ“±ļø Socials šŸ“±

ā–ŗ Cardano Forum: https://forum.cardano.org/
ā–ŗ Twitter: https://twitter.com/cardano
ā–ŗ Telegram: https://t.me/CardanoAnnouncements

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šŸ“ Project Overview šŸ“

Cardano sets itself apart from other cryptocurrency projects by focusing on development driven by scientific methodology.

The project is broken into three distinct areas: the Cardano Foundation, IOHK, and Emurgo. Cardano is being built in layers, which makes the system flexible.

The goal for the project is to eventually run decentralised applications.

āš™ļø Technology āš™ļø

Cardano has three main layers in its blockchain. Currently, the settlement layer offers the functionality for ADA along with a basic accounting ledger. Sidechains are also part of the CSL layer and they help to increase scalability.

The second layer is a control layer or Cardano Computation Layer (CCL for short). This layer provides a framework that will support sophisticated and advanced systems.

Cardano uses Haskell for development purposes which is important because it offers the flexibility needed to adapt and adjust as the system changes.

Cardano has a unique proof of stake consensus mechanism called Ouroboros. The reward mechanisms in this algorithm have shown that it is an honest and fair system.

šŸ’°ļø Token šŸ’°

Cardano held a presale for their ADA tokens from 2015 to 2017. They were sold for on average $0.0025 mostly to Japanese investors with stringent KYC requirements. In the presale, 26 billion of the 45 billion token supply was sold.

This ADA token can also be used to stake on the network once Shelley is launched although you will not be able to solo stake and will either have to join a pool or run your own pool.

šŸ‘Øā€šŸ’»ļø Team, Partners & Development šŸ‘Øā€šŸ’»

Charles Hoskinson founded Cardano along with his co-founder Jeremy Wood in 2015. They are the Chief Executive Officer and Chief Strategy Officer respectively of the IOHK organisation.

The Cardano ecosystem is comprised of three organisations being the IOHK, Cardano foundation and Emurgo.

While Cardano is handled by these three entities, Charles Hoskinson is the voice of the Cardano project. Both Charles Hoskinson and Jeremy were original founders of Ethereum.

Cardano has broken down their roadmap into 5 distinct phases. The project is currently in the “Shelley” phase. There has been extensive work done on the protocol as can be evidenced by their GitHub.

šŸ“ˆ Trading & Wallets šŸ“ˆ

Cardano is listed on a number of exchanges including CoinEx, Binance, Huobi, and Bittrex. Trading is available against BTC, USD, USDT and ETH.

The bulk of the volume is taking place on Binance and CoinEx although liquidity appears to be well spread out.

There is also strong order books on the individual exchanges such as Binance. The books are deep and the turnover is relatively substantial.

If you have ADA then the best place for storage is most likely their native Deadalus wallet. It is also supported by a number of other wallets such as a Ledger, Trezor etc.

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šŸ“œ Disclaimer šŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#Cardano #ADA #crypto #Review #Shelley #Binance #blockchain #trading #cryptocurrency

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