Buy and invest in Cardano (ADA)
Cardano (ADA) is a new cryptocurrency, officially launched on October 2,2017 and very quickly rising to the top 20 digital currencies with the highest market capitalization. Cardano (ADA) was not only conceived as a digital means of payment. Rather, the Cardano ecosystem is a further building block in the development of blockchain technology into an alternative, decentralised economic base.
The scientific basis of the project as well as economic and regulatory safety standards contribute to this.
Who and what is Cardano?
The Cardano project was initiated in 2014 by a group of cryptocurrency specialists, fintech companies and investors in Japan. For its practical implementation, Charles Hoskinson — originally one of the co-founders of Ethereum — and Jeremy Wood founded Input Output Hong Kong (IOHK). The company was also actively involved in the spin-off of Ethereum Classic from the Ethereum platform.
At the same time, the Cardano Foundation was established in Switzerland to monitor the development of the new cryptocurrency and the Cardano eco-system. Profit-oriented activities in the Cardano area are handled by Emurgo, a spin-off based on the Isle of Man. However, with regard to management and ownership structures, the three units operate completely independently.
Cardano is the first blockchain project based on a scientific approach and founded by a team of global leaders in engineering, IT and other academic disciplines. Their goal was to develop a secure, scalable and prospectively multifunctional block chain platform. Cardano is the first blockchain ecosystem based on the Haskell Code. This is an industrial-grade product capable of meeting the security requirements of mission-critical systems. As an absolute novelty in the world of cryptography, Cardano’s development also took into account the control needs of the state regulatory authorities.
The Cardano ecosystem and the cryptocurrency Cardano (ADA)
Cardano and the cryptocurrency Cardano (ADA) are not identical. The Cardano ecosystem is also the platform for the ADA cryptocurrency, but its developers’ intention goes far beyond the creation of yet another digital payment medium.
Just a few months after its release, the Cardano project has a reputation for creating a concept that could determine the future of blockchain technology. Until further notice, it’s work in progress. However, it is already foreseeable that Cardano will outperform the established crypto ecosystems in terms of speed, scalability and the integration of different security requirements. The structure of the system follows a multi-layer strategy in order to implement successively different functionalities. IOHK pursues ambitious goals with Cardano: The platform is not primarily focused on the activities of individual users, but is primarily intended to provide a secure basis for decentralized transactions for large companies, organizations or governments. Another layer is to support the conclusion of Smart Contracts in the block chain.
Buy Cardano
With this approach, Cardano is particularly competing with Ethereum, whose Smart Contracts have so far been of particular importance for startups, traders and ICOs (Initial Coin Offerings, the initial issue of a new digital currency). In contrast, Cardano’s initiators, as relevant target groups, have the entire business world and politics in mind from the very beginning. Such an approach is not absurd: interest in block chain technology and decentralized transaction systems is already being shown not only by large companies but also by the governments of various countries. Cardano is in the process of establishing itself as an exclusive partner for such projects.
Decentralized applications that users can design directly on the platform are also planned. This function will be available as early as 2018. Development goals up to 2020 include ensuring the platform’s long-term scalability, the implementation of additional functional layers and a comprehensive expansion of the platform. Security, protocol compliance and Cardano’s technical standards are reviewed in regular peer reviews.
The cryptocurrency ADA is the monetary transaction medium in the Cardano ecosystem. Cardano’s ICO (ADA) has been implemented in four stages since 2015, starting before the official release of Cardano Blockchain. A total of 45 billion ADA tokens were issued, of which only about 26 billion are present on the market. It can therefore be assumed that organisations and private individuals hold larger amounts of ADA tokens. Currently, ADA tokens can only be used as a classic digital means of payment. In future, they are to be equipped with voucher functions.
Investing in Cardano
Investments in Cardano are currently only possible on cryptocurrency exchanges. The development of Cardano’s market capitalization in the first three months following its launch has been very successful. At the beginning of January 2018 it was already just under 32.5 billion US dollars. Cardano currently ranks fifth in the coinmarketcap. com portal’s market capitalization ranking after Bitcoin, Ripple, Ethereum and Bitcoin Cash. The daily trading volume of Cardano (ADA) amounted to approximately 700 million US dollars at the beginning of 2018.
Like some other new platforms, such as Monero or Bitcoin Cash, Cardano has managed to establish itself very quickly in the world of crypto currencies. Investments in Cardano are also promising due to the overall profile of the platform. If Cardano creators are able to put their development plans into practice and interest established organisations in their project, Cardano could well become the next big star in the cryptocurrency world after Bitcoin.
Cardano Trading
Trading with the cryptocurrency Cardano (ADA) is currently mainly traded on the cryptocurrency exchanges Bittrex, Binance, Coinnest, UpBit and Mr. Ripple. The coinmarketcap. com portal states that 90 percent of Cardano’s trading volume is currently traded on the Bittrex and Binance exchanges. With the exception of Bittrex in Las Vegas, the other exchanges are exclusively Asian stock exchanges. Cardano has so far not played a significant role in the portfolios of European cryptocurrency brokers. Whoever wants to buy Cardano is therefore dependent on direct stock exchange trading. In order to buy Cardano (ADA) on the stock exchange, prospective buyers must first buy Bitcoin or Ether.
Cardano share price development 2017
Cardano’s (ADA) share price performance also suggests that investing in this digital currency is worthwhile. In October and November 2017, their exchange rate was initially between 0.02 and 0.03 US dollars, but has been rising gradually since the beginning of December. In the second half of December, it then picked up steadily and stood at 1.26 US dollars at the beginning of January 2018. Cardano (ADA) is therefore ideally suited to investing in cryptocurrency investments without major financial outlay. The risk of losses due to the high volatility of the exchange rate is also limited for the time being.
Current Cardano forecasts for 2018
It remains to be seen which performance Cardano (ADA) will show in the course of 2018. Some cryptocurrency experts are rather sceptical about the exchange rate development of Cardano (ADA) and other cryptocurrencies, from their perspective Cardano has to prove that the current performance of this digital currency is based on more than a short-term hype. Overall, however, Cardano forecasts are quite optimistic.
The analysts at walletinvestor. com assume that a Cardano (ADA) will be worth about USD 4.437 by the end of 2018 and that the exchange rate of the ADA tokens will be around USD 17 in five years’ time. This has considerable profit potential. The long-term growth rates of Cardano (ADA) amount to 230 percent per year. It is unlikely that the forecasted performance of Cardano (ADA) will be reversed. However, market observers do not expect the Cardano exchange rate to exceed 20 dollars in the next five years.
The market presence of the platform will also play an important role in the further development of Cardano. At present, Cardano has a particularly good chance of establishing itself on a broad basis in Japan. In the meantime, Cardano is attributed a market significance and thus development potential in Japan, as Ethereum currently has in the USA and Europe. In addition, Cardano has become interesting for crypto investors shortly after its official launch, which is also likely to generate significant growth impulses in the future.
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