Cardano has shown, for many years, that it is a Cryptocurrency which keeps the boat on course and within time increases its value.
If you’re an investor in cryptocurrency, you need to know the basic requirements of a good cryptocurrency. You need to look for a sense of community, then you need to have a robust technical platform and finally, you need sound business management practice.
Cardano (ADA) is ready to become one of the biggest, if not the biggest player, in the blockchain realm. Many believe it to be the blockchain for ADA cryptocurrency, but that’s not where the money stops. There’s more to it, and there are many reasons why it is poised to have a great future.
Cardano is an open-source, decentralized public blockchain ledger. Cardano is the first blockchain project that came as a result of a scientific-driven philosophy. The project takes on research-driven approaches and brings together experts in both the engineering fields and research fields.
Since inception, it has increased in value to make it the 6th highest cryptocurrency by market capitalization.
Cardano aims to integrate with all other major cryptocurrencies without the use of a third party, which:
- Reduces fees that exchanges charge
- Allow quicker and easier transactions across the blockchain
- Removes the risk of a third party losing your cryptocurrencies
On the 8th of August Cardano CEO, Charles Hoskinson declared the newest version of Cardano’s protocol. Read Here.
What is Cardano (ADA)
Does it have a purpose in the market? Will anyone buy it or see any value in its academic approach? How much value will the scientific scrutiny add, or will it slow the development process?
On this page, you can find more information about Cardano platform and watch the video introducing the new Wallet.
The majority of tier three generation coins have become speculation vessels and that could be the reason the institutional investors are keeping quiet in the markets. This has denied genuine players the opportunity to grow. However, Cardano stands out of the crowd by focusing on changing the world to make it a better place for all.
Cardano has collaborated with small and big players in the industry, as a result, a lot has been realized among communities that it interacts with. To support these initiatives, Charles Hoskinson, having been very instrumental in the initial Ethereum development, seems to know what Cardano stands for:
“Why is anybody worthy of their position in the market cap race? Bitcoin believers advertise it as a payment system and a means of exchange. In reality for everybody who’s ever tried to use it for that, it’s been a miserable failure. They usually stop taking it, or they find ways to take cash, and through the creative structure as BitPay have done. Ethereum claims to be a world computer, but then CryptoKitties broke it.”
We know where we are heading
With the recent Cardano (ADA) roadmap amendments new opportunities seem to have come into the fore. The goal of the outfit is to scale higher heights and Hoskinson appears to be excited about what the team is working on, a move that has caught many by surprise.
While discussing the “secret projects” he mentioned to new possible entrants into the Cardano family; Icarus and Yoroi. Icarus is an IOHK team project:
“Icarus is a fully open source code base that will be the first step in a range of open source initiatives to provide developers with a suite of tools for Cardano.”
Provision of new developer tools appears to the next frontier for Cardano. This could shake the Ethereum ecosystem and for that reason could lead to a mass developer migration to Cardano. Once actualized, Icarus will offer a better value proposition than Ethereum and to some extent Bitcoin.
Yesterday, Emurgo, a Cardano partner posted a video on its official YouTube channel to reveal the name of its first product developed on the Cardano blockchain. Ken Kodama, a Cardano founder and Emurgo CEO announced that the product’s name is Yoroi.
Emurgo is a Japan-based company and is Cardano’s venture capital arm. The blockchain firm is tasked with bringing new businesses to Cardano’s blockchain, furthermore helping its commercial ventures and development. Kodama stated that Emurgo’s main objective was to help further develop Cardano’s ecosystem and reach businesses from all over the world.
“Yoroi is a light wallet for Cardano. It’s simple, fast and secure. Yoroi is an Emurgo product, engineered by IOHK. And it follows best practices for software in the industry including a comprehensive security audit. Daedalus and Yoroi are complements to what they try to achieve. Yoroi looks to be a day to day wallet for a Cardano user,” stated its official website.”
The Daedalus Wallet
The new Deadalus wallet for Cardano‘s storage has been released. To store ADA you must download Daedalus. Daedalus is a secure, multi-platform, HD (hierarchical deterministic) wallet for the Ada cryptocurrency. Install Daedalus on your computer and open the application. Watch the Daedalus tutorial video if you require help to set up your digital wallet:
The Daedalus wallet has many special features, which make it easy to use and give you a high degree of confidence in its security.
- Encrypted private keys and spending passwords, offering protection against security threats such as malware.
- Wallets can be exported to paper certificates, giving the maximum security option of placing funds in cold storage.
- Ada redemption supports encrypted or unencrypted redemption certificates, moreover, it is built directly into Daedalus.
- Users can be sure when transactions become irreversible, through Configurable transaction assurance level monitoring.
Engineers are in the process of designing and building many more useful features. Plans for development include:
- Ethereum Classic and Bitcoin support and similarly a mobile wallet for Android and iOS.
- Staking, which enables Ada holders to participate in the block generation process, and also earns more of the currency.
- An application store with community-built applications furthermore extending support for virtually any cryptocurrency.
- ADA markets are live on the ICE³X cryptocurrency exchange, consequently, you can trade here: www.ice3x.com.
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