Cardano: that other crypto that is soaring

Cardano is that other crypto that is rising fast! Why and what can this digital currency do? Read it here.

Last week went down in the books as an unruly week on the crypto exchanges. All digital coins tumbled down. Bitcoin even lost a quarter of its value, but it is on the rise again. There is no other way. In recent months, the ‘crash’ was dominated by an unprecedented rise in coins, including Cardano.

Cardano

The value of Cardano, also known as ADA, has more than doubled in the past year. The coin is now about $ 1.60. It rose nicely in line with the upward trend of recent months, but has also been hit hard a number of times.

Cardano is currently number five in crypto size. The market capitalization is almost 48 billion dollars and you can put the coin in line with Bitcoin, Ripple and Binance Coin. The name comes from the mathematician Gerolamo Cardano, and for a reason. The crypto is based on mathematical formulas and that has also been checked and proven.

Target of Cardano

The coin was founded by IOHK (Input Output Hong Kong) and developed the blockchain technology. The company was founded in 2015 by Jeremy Wood and Charles Hoskinson. Cardano’s goal is: ‘Making the world better for all’. With those aforementioned mathematical formulas, Cardano combines and merges the advantages of other cryptos. Consider the advantages especially the safe storage, such as with Bitcoin or the low transaction costs with LiteCoin.

The coin consists of two blockchain layers. One ensures that all transactions are stored, the other ensures that all transactions are separated by logic. Another unique aspect is that no coins need to be ‘mined’ with Cardano. That makes the currency a lot more sustainable than Bitcoin, for example.

Whether you should invest in this digital currency is up to you. The coin does have a good starting point and has become quite popular in recent times.