contours of a complex cryptocurrency

Cardano is an open source blockchain platform founded in 2017 by entrepreneur Chales Hoskinson with the goal of creating an environment that supports applications dedicated to financial services for the benefit of individuals, businesses and governments around the world. Cardano can be used to send and receive cryptocurrency, the platform offers direct, fast transfer services and under high security conditions.

The Cardano environment is developed in layers and therefore allows the team of engineers and developers to easily update and maintain it thanks to Soft Fork. The token issued by Cardano blockchain is called ADA.

Cardano: in what vision was it invented?

Developed by a team of veteran engineers and IT experts, the platform is the only blockchain project that takes a scientific approach to development of its solutions. The goal that Cardano pursues is to offer a robust, secure and scalable blockchain technology that can guarantee reliable use of financial applications that can support millions of users every day. This therefore explains the project group’s orientation on choosing the same approach as that used by banks and traditional financial systems.

In the long term, Cardano’s vision is to reconcile the needs of users and the requirements of regulatory entities while creating a transparent economic interaction environment. This type of cryptocurrency with a regulatory framework can bring free and inclusive financial services to the benefit of millions of people around the world. On the one hand, the underlying network will guarantee the need for regulatory efficiency, on the other hand, the blockchain token – ADA – will ensure efficient money transfers with particularly low cost and speed, sending and receiving.

Some information about Cardano

  • Blockchain name: Cardano
  • Issued token name: ADA
  • Release Date: 2017
  • Where to buy: On exchanges (ex .: Kucoin)

Can Cardano be compared to real money?

Though Cardano offers its users fast transactions at low cost, the development of the smart contract layer has not yet been completed. That said; In any case, or at the present time, Cardano cannot be considered a currency that can be used to purchase goods and services on a daily basis. So much the more it must be remembered that Cardano does not intend to replace another currency. On the contrary, it seeks to establish a network of financial services, based on smart contracts, that offers states a way to ensure compliance with the rules while providing organizations and individuals with a reliable and convenient service for receiving and transferring money.

The project adopted around Cardano is based on a scientific orientation in problem solving, an approach that involves the work of computer technology engineers and experts in financial services and markets. Although the work to be done to realize the full potential of ADA , is still quite long and hard, Cardano does not face the same problems as the rest of the blockchains.tells us a Kucoin expert.

ADA is the first cryptocurrency to take a scientific approach in its development. This approach gives it a great potential for success compared to other platforms. But since Cardano is still under development, it would be too early to completely rule out the strengths and experience of some other blockchains.

The prices of cryptocurrencies including ADA / BTC, Ether and others are always moving in a trend that would be difficult to determine in advance. In order to participate in such an investment, it would therefore always be wise to try to invest only what we can afford to lose.

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