What is ADA Coin?
Cardano is a platform with ADA crypto system that can be used to send and receive cryptocurrencies. This cryptocurrency represents the future of money and enables fast, direct transfers that are guaranteed to be secure with cryptography.
Cardano is not just a cryptocurrency, it is a technological platform that can execute financial applications used by individuals, organizations and governments around the world every day. The platform is built in blocks, making it easier to update the system and upgrade with soft bifurcations. Upon completion of the basic layer that will govern ADA, a separate computing layer will be created to handle smart contracts, digital legal agreements to support future commerce and business. Cardano will also run decentralized applications or dapps (the system that directly connects users and suppliers) services that are not decentralized but instead run on a blockchain.
Cardano’s innovation is that it balances users’ needs with the demands of regulators and combines privacy with regulation. Cardano’s vision is that the newly regulated computing style will enable greater financial participation by providing open access to fair financial services for all.
Who is the Founder of Cardano (ADA)?
The founder of Cardano is Charles Hoskinson. He is a blockchain developer and co-founder in multiple key projects in Blockchain. Besides Cardano, Charles is among the founders of Ethereum and Ethereum Classic.
In 2013, Charles Hoskinson, together with EOSIO’s co-founder Dan Larimer, launched Invictus Innovations, the first blockchain and cryptocurrency startup.
What is the Difference Between Cardano and Other Cryptocurrencies?
Many of the positive predictions that Cardano prices will increase are due to technical reasons it offers. One of them is the cryptocurrency’s block generation algorithm.
However, the “Alternative Proof of Purchase” algorithm is gaining in importance as a way to reduce the electricity consumption of cryptocurrency mining. Cardano’s Ouroboros protocol was one of the first Stake of Proof systems and was the security system proven so far. They started the development of the Daedalus Wallet by improving their desire for user security. In addition to the normal privacy aspects of a cryptocurrency wallet, Daedalus also allows customization of certain spend passwords and transaction tracking.
How is Cardano (ADA) Mining Done?
Cardano (ADA) mining is not done with the system we are used to from other crypto currencies. As with Bitcoin mining, it is not possible to mine with electricity consumption with a special device.
The Cardano mining system works as follows, you load some Cardano balance into your Cardano wallet, which is suitable for this transaction, and with a certain percentage of your balance, it earns you Cardano. This system is made with the Proof of Stake method. About stating “What is Staking?” You can check our article.
There is no need for a special miner device or electricity consumption for Cardano mining. You receive a Cardano reward in proportion to your balance in your Cardano wallet, and thus the system can continue its operations without slowing down with a more practical mining compared to other mining types.
How to Buy Cardano?
You can purchase Ada Coin from many Coin sales companies.