Cardano is a decentralized network on a public blockchain, as well as an open-source cryptocurrency project. Cardano is developing a smart contract marketplace that would offer users more advanced features than any other protocol today. It is also the first Blockchain platform, the idea of which came out of scientific philosophy and developed thanks to a research approach. The team includes many experienced researchers and engineers from around the world.
Current exchange rate of CARDANO (ADA) cryptocurrency to ruble, dollar, euro
ADA
- RUB 0.14
- USD 0.00
- EUR 0.00
Cryptocurrency Cardano (ADA) - what is it
Cardano runs on the innovative Ouroboros protocol, the first blockchain protocol based on Proof of Stake with strict security rules. The security of the platform is comparable to Bitcoin, but provides much more qualitative efficiency benefits, thanks to the replacement of PoW with PoS.
In addition, Cardano introduces a new reward mechanism for Proof of Stake, ensuring the highest probability of neutralizing attacks related to unfair distribution of funds. There is evidence of the practicality of the protocol in real-world operating conditions and the results of experiments on confirming and processing transactions.
Technology, algorithm, features of the Cardano cryptocurrency
The creators of Cardano consider their project the third generation of Blockchain technology. The first generation was, naturally, Bitcoin, the second – Etherium. Cardano should, according to the developers, inherit and develop the best from previous generations and at the same time overcome their inherent limitations.
The main problem with previous generations is the difficulty of scaling. Already, Bitcoin miners are burning megawatts of electricity and using enormous computing power. As millions of new users join the system, the energy and resource intensity of existing solutions will become an insurmountable barrier.
The need to fully verify the entire Blockchain when creating a new block makes transactions quite slow. The transaction speed in cryptocurrencies does not come close to the speed of traditional systems such as Visa or Swift. As the number of users grows, the situation will only get worse. Over time, the length of block chains will constantly grow and their storage and processing will require more and more gigabytes and terabytes of memory.
Anonymity, which is considered to be one of the main advantages of cryptocurrencies, makes it almost impossible to use them when interacting with traditional financial institutions that are under strict control of regulators. Cardano developers propose to optionally include additional information in the Blockchain, which they call metadata, protecting it using cryptography methods, or maintaining complete anonymity where it is necessary.
Currently, there are many different cryptocurrencies, but despite their origin from a common ancestor - Bitcoin, different Blockchains are not at all able to interact with each other. To do this, you have to involve intermediaries - exchanges. They are the main source of problems in the cryptocurrency market today. The creators of Cardano want to teach Blockchains to interact directly without intermediaries, which should in the future abolish exchanges as unnecessary.
The possibility of smart contracts that execute themselves appeared in Ethereum. Cardano promises to bring this idea to perfection and leave accountants and lawyers out of work.
The Cardano project intends to provide for soft changes to the protocol during its life cycle and develop a mechanism for achieving consensus on these changes. The goal is to avoid system fragmentation due to hard forks that existing systems are susceptible to.
The Cardano project software is built on a hierarchical principle in the form of a protocol stack. The basic level of the stack - the settlement layer - is responsible, in fact, for transactions. Above it is the control layer - the management level at which smart contracts are executed. Cardano is written from scratch in one of the most advanced and secure functional programming languages, Haskel, with the assistance of the language's creator, Philip Wadler.
The Cardano Blockchain is based on the Proof of Stake protocol under the sonorous name Ouroboros - the brainchild of Professor Kiyayas. The Greek word Ouroboros (pronounced oroboros or ouroboros) means an ancient mystical symbol in the form of a snake or dragon biting its tail. Many nations have this symbol, but it came to Europe from ancient Egypt through ancient Greek mythology and was often used by medieval alchemists. This symbol has many philosophical meanings - infinity and the cyclical movement of time, the extinction and rebirth of life from itself, and the like.
A similar protocol is used in Ethereum (Casper), but the creators of Ouroboros claim that their protocol is the only one whose security has been mathematically proven.
The project’s roadmap contains a lot of interesting and promising ideas and initiatives that promise to make Cardano the most technologically advanced platform in existence.
The project ideas can be found on the website https://whycardano.com/ru/.
Characteristics
Indicators of the Cardano cryptocurrency as of April 3, 2019:
| Cryptocurrency | Cardano (ADA) |
| Ticker | ADA |
| Capitalization | 2,564,705,817 $ |
| Course (04/03/2019) | 0,09 $ |
| Current issue | 25 927 070 538 ADA |
| Maximum emission | 45,000,000,000 ADA |
| Project website | https://www.cardano.org/en/home/ |
| Reviewer | https://cardanoexplorer.com/ |
| Exchanges | Binance, EXMO, OKEx, HitBTC, Huobi, ZBG, etc. |
| Margin trading | Bitmex |
| Mining algorithm | POS |
| Wallet | Daedauls |
| Transactions per second | 257 |
| Block processing time | 0,33 |
| Project launch year | 2015 |
Main characteristics of the CARDANO cryptocurrency
| Name | Price | Market capitalization | Offers | Change % (7D) | |
| 1 | Cardano | $0.14 | $3,596,084,683.62 | 25927070538 ADA | +0.43% |
Online chart ADA/USD
How to buy
The Cardano (ADA) cryptocurrency is a highly liquid coin and is in the TOP 10 by capitalization. It is not difficult to purchase it and there are several ways:
- Cryptocurrency exchanges.
- Cryptocurrency exchangers.
- p2p exchange (transactions between people).
Popular trading platforms are Binance and EXMO. The first one has the largest trading volumes, the second one has the ability to work with traditional money or fiat. For trading with leverage - Bitmex (Bitmex).
Instructions on how to purchase Cardano on EXMO
- You need to register on the website exmo.me. In the process, we confirm the email and after logging into your account, enable two-factor authentication in the “Security” section.
- We top up the balance in a convenient way: by transferring cryptocurrency or using payment systems: Advcash, Payeer, Yandex.Money, Qiwi, Skrill, Neteller, Visa/Mastercard, etc.
- Then, go to the “Trading” section, select the desired currency pair: ADA/USD, ADA/BTC, ADA/ETH.
- We create a buy order. There are two types of trading orders on Exmo: limit and market. In the limit we indicate the quantity and price; in the market only the quantity, since the order is executed at the current price and the liquidity will be the orders in the exchange order book.
- The purchased cryptocurrency is stored in exchange wallets. You can withdraw it to the official Daedauls wallet.
How to buy or sell in exchangers
Online exchangers are a fast and profitable way to exchange or buy Cardano cryptocurrency for fiat money. They present the most popular payment systems: cards (Visa/Mastercard/Mir); banks (Sberbank, Privat24 and others), electronic wallets. To carry out the operation you need:
- Select exchange directions.
- Fill out an application.
- Confirm the exchange and follow the instructions to complete the transaction.
When purchasing, you must indicate the address of the Cardano cryptocurrency (it can be obtained in the Daedauls wallet or on the exchange); when selling: wallet, account or card number to receive money.
For example, exchanging the Cardano (ADA) cryptocurrency in the Baksman exchanger:
Description of the project, history of creation
Cardano is a project created in 2020 as an attempt to change the way cryptocurrencies are designed and developed. A certain set of innovations makes the ecosystem balanced and sustainable, better responsive to the needs of users (and other systems seeking integration).
Like many other open source projects, the Cardano cryptocurrency did not start with a lengthy roadmap or an impressive White Paper. Rather, it was a set of certain design principles, including:
- distribution of accounting and calculation levels;
- implementation of the main components of a multi-module system;
- participation of groups of scientists and developers;
- active use of expert knowledge and interdisciplinary teams;
- rapid interaction between White Paper, implementation and innovative research needed to eliminate identified problems.
- the ability to painlessly update the system after release;
- decentralized financing mechanism;
- long-term projects to adapt cryptocurrencies for mobile devices
...and more than 10 other important principles.
From this jumbled collection of ideas, the developers of the ADA cryptocurrency began to create an initial set of abstract functions. The result is an extensive library of IOHK documents, a lot of survey results, the Scorex project, an ontology of smart contracts.
Creation and development of the project
Cardano (ADA) is a new solution in the cryptocurrency technology market. The creation of the coin began when businessmen and the target community of Asia came together in 2014. To introduce the Cardano cryptocurrency into the financial market, the primary project IOHK was used. Two funds were created for support:
- Swiss Cardano Foundation. Initially aimed at developing the token ecosystem and monitoring compliance with user interests.
- company on the Isle of Man. Responsible for conducting business transactions on behalf of the ecosystem community.
In 2020, the development team is introducing a number of ICOs, which allows them to raise funds for the start. Initially, Cardano's prospects did not inspire confidence, but a team of developers led by Charles Hoskinson, one of the founders of the Cardano cryptocurrency, convinces investors of the reliability of the platform.
Meanwhile, Hoskinson makes a loud prediction: by 2020, Cardano technology will join the list of the largest assets in the digital market.
Features of cryptocurrency, technical implementation
Ouroboros is a proven safe Proof-of-Stake variety. Currently, it has the most thorough security analysis of all cryptocurrencies.
First, a model is proposed that formalizes the problem of implementing a blockchain protocol based on PoS. The new model implemented focuses on resilience and permanence, two key properties of a reliable transaction ledger. Once one node in the system declares a transaction “stable,” the other nodes will also report it as stable.
Secondly, a new blockchain protocol based on PoS has been created. Parties can freely create accounts, receive and send payments. The rate changes over time. A simple implementation of the randomness protocol is used, increasing the level of fairness in the project.
Advantages and disadvantages
Among the advantages of the Cardano cryptocurrency are:
- Democratic control of mining and transactions. Mining is controlled depending on the total power of the user’s equipment, and transactions - on the number of payments.
- The scientific basis of the protocol, which simultaneously provides reliable protection against hacker attacks and allows you to generate good traffic.
- Innovative developments aimed at protecting users and confidentiality of transactions are actively used.
Disadvantages that not only users but also the developers themselves agree with:
- the control system still needs improvement;
- there is no organized surveillance;
- there is little scope for long-term and forward-looking planning.
How and where you can buy ADA cryptocurrency
The new ada cryptocurrency is not available everywhere. To get the coin in question, you will have to try hard and search on the largest cryptocurrency exchanges. In particular, a large selection can be found on the largest Chinese exchange Binance. True, in order to buy the ada cryptocurrency there, you first need to exchange fiat money for bitcoins or ethereum and only then buy ada.
Step-by-step instructions for purchasing Cardano:
. Here you need to register on the Binance.com exchange. To do this, on the main page of the exchange, click on “Register”. This inscription is located in the upper right corner of the screen. If anything, the site is usually in English, so if you want to work comfortably, change the language. Fill out the registration form, indicating the most complex password for your account. After the fields are filled in, click confirm and wait for an email to arrive. Go to the site, specifying your username and password, go through verification to reduce the risk of account hacking, and you are ready to work.
Step 1- Step 2 . Buy Bitcoin or Ethereum and then exchange them for the Cardano cryptocurrency. There are only a couple of available exchange options on Binance: ADA/BTC and ADA/ETH. Of course, you can try to look for options for purchasing in rubles or dollars, but this will be much more expensive. To get the cryptocurrency you need, you can go to the Bestchange.ru service. It's fast, convenient and affordable. In particular, even beginners can use it. Go to Binance, log into your profile, click on “Calculated Value”. This menu will contain a list of purchased cryptocurrencies, as well as a method for replenishing or withdrawing them. Find “Bitcoin” or “Ethereum” depending on your interests, and click on “Deposit”. In the “Deposit Address” line, it is important to indicate the address for sending cryptocurrency. And in Bestchange, in the “Give” line, indicate an acceptable payment method and click on “Receive”.
- Step 3 . Buy Cardano using Bitcoin or Ethereum. To do this, click on the “Binance” logo and go to the home page. In the center of the page you will see a tab with the cryptocurrency pairs that are available to you. Depending on the cryptocurrency you have, you need to click on “BTC Markets” or “ETH Markets”. And you need to change it to “ADA”. There will be few results, so it’s difficult to confuse. Wait for the auction to take place. Choose between Market and Limit. If you use a limit trade, then the purchase and sale is deferred, that is, it will be executed in the future when or if the price is as specified in the order. As for the market type, transactions here can be carried out instantly, and the price will be favorable. And in the “Quantity” field, of course, indicate the number of Cardano coins you want to receive and click on “Buy ADA”.
To make sure everything went well, look at your account. If everything is done correctly, Cardano coins will appear on your account. But this is provided that the user has chosen to quickly receive cryptocurrency.
Wallets
To use the ADA cryptocurrency, you need to download the Daedauls wallet, it provides secure storage of the currency. The service is reliable and multifunctional, focused on computers/laptops.
Video instruction: Like all crypto wallets, Daedauls allows you to send and receive cryptocurrency, as well as view the history of previous transactions.
Prospects for the development of the Cardano cryptocurrency for 2020: what will be the forecast?
If Cardano’s developers nevertheless “finish” the entire system as intended, then the cryptocurrency market will receive a completely new type of digital tool, capable of performing a variety of operations even at the everyday level.
Cardano cryptocurrency is a prototype of future money that strives for legalization, simplicity and convenience. At the moment, one can already observe a fairly high speed of transaction execution, but Hoskinson’s team is not going to stop there.
The following actions of the development companies provide hope for a favorable outcome:
- A separate company is actively promoting the technology in the field of ICO, which helped the developers raise a large amount of funds thanks to investors who saw high prospects in Cardano in terms of benefits.
- The management of the blockchain system is based on adequate control, during which unwanted persons are blacklisted and work is carried out to correct identified errors.
- Detailed study of implemented technologies. This fact is the main reason why the project is still in beta.
- Increased security level. The above-mentioned protection algorithm allows you to reliably protect user funds from possible hacks and hacker attacks. Throughout its existence, the system has never been disabled by attackers.
Mining. How to mine Cardano (ADA)
The blockchain runs on an advanced PoS algorithm and does not require powerful hardware to support.
To earn Cardano, you just need to buy an initial amount on any cryptocurrency exchange and keep the funds in your Daedauls wallet. The more savings you have, the more regular profits you will receive.
