Cardano rise (ADA): following the announcement of a new roadmap, the asset is propelled into the top 10 crypto-currencies

in #btc5 years ago

The price of the Cardano currency (ADA) has risen by nearly 600% since it began trading last October.

While investors seem to be anticipating the next announcement linked to the developers' roadmap, which should take place this weekend, the currency's price exceeded 0.145 dollars, an increase of more than 360% in 72 hours.

The price then fell slightly, but the increase is still considerable:

At the time of writing, Cardano was ranked 9th in the crypto-currency ranking in terms of capitalisation.

It thus surpasses Ethereum Classic, whose price had however strongly increased in recent days, and is just behind IOTA.

This explosion did not fail to make many Internet users react on Twitter.

Some had correctly anticipated a further rise in Cardano's price:

Others congratulated the holders of $ADA tokens, who were rewarded for their patience:

However, some have remained sceptical about this increase, believing that it could be an artificial pump:

What is Caradano (ADA)?

The Cardano project was launched in 2015, with the ambition of becoming "the first blockchain project developed according to a scientific approach".

To achieve this, the developers teamed up with IOHK, an engineering company specialising in blockchain technology. Its ranks include some of the leading figures in the sector, such as Professor Aggelos Kiayias and Charles Hoskinson, co-founder of Ethereum.

After its introduction on Coinmarketcap at the beginning of October, Cardano had passed the $0.03 mark, and then dropped to $0.019. The first announcement related to the project's roadmap did not seem to have aroused the enthusiasm of investors.

With a maximum supply of money set at 45 billion coins, and 99.9% of the trading volumes concentrated on a single platform, Bittrex, it would seem that many of them have so far not taken the time to take an interest in Cardano.

What future for Cardano?

For the first time in its history, Cardano will be able to propose a provably secure proof-of-stake protocol audited by experts, called "Ouroboros".

This one is intended to defend the network against many attacks. This new protocol, secured by the proof-of-stake method, is coupled with an adaptive consensus algorithm. It should lay the groundwork for the project to perhaps establish itself as one of the largest block-chain platforms.

Cardano's teams are also working on the creation of an ADA credit card, which can be replenished thanks to the wallet they have already developed, Daedalus. This is a project that other crypto-currencies are also pursuing (such as TenX, TokenCard or Plutus), and which could allow individuals to use their crypto-currency to make their daily purchases.

Finally, it should be pointed out that the developers of Caradano are also in the process of developing a programming language dedicated to smart contracts, whose code can be formally audited so that they can be completely secure. The team is thus seeking to respond to the problem of security around these "intelligent contracts" - a problem that has recently caused a lot of ink to flow following the theft of Ethers stored in Ethereum Parity wallets.

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