outlines of a complex cryptocurrency

Cardano is an open source blockchain platform founded in 2017 by entrepreneur Chales Hoskinson with the aim of creating an environment to support applications dedicated to financial services for the benefit of individuals, companies and governments around the world. Cardano can be used to send and receive cryptocurrencies, the platform offers direct, fast and highly secure transfer services.

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

Cardano: in what vision was it invented?

Cardano was 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 capable of guaranteeing the reliable use of financial applications capable of supporting millions of users every day. This therefore explains the orientation of the project team to opt for the same approach used by traditional banks and financial systems.

In the long term, Cardano’s vision is to reconcile user needs with regulatory requirements, while providing a transparent environment for financial interaction. 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 would guarantee the need for regulatory efficiency, on the other hand the blockchain token – ADA – will guarantee efficient money transfers with particularly low cost conditions and sending and receiving speeds.

Some information about Cardano

  • Blockchain name: Cardano
  • Token name issued: ADA
  • Launch date: 2017
  • Where to buy: On the stock exchange (ex: Kucoin)

Is Cardano comparable to real money?

Although Cardano offers its users fast transactions at low cost, the development of the smart contract level is not yet complete. That said; Cardano cannot be considered, at least or the current time, as a currency that can be used for the purchase of goods and services in everyday life. A fortiori, it should be remembered that Cardano does not aim to replace another currency. Rather, 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 to problem solving, an approach that involves the work of IT engineers and experts in services and financial markets. Although the work to be done to realize the full potential of ADA is still quite long and difficult, Cardano does not face the same problems as the rest of the blockchains. a Kucoin expert tells us.

ADA is the first cryptocurrency take a scientific approach in its development. This approach offers great potential for success compared to other platforms. However, as Cardano is still evolving, 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. Therefore, to commit to such an investment, it would always be prudent to try to invest only what we can afford to lose.

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