Tokenize Xchange Blog

A place to exchange ideas, knowledge, and values

5 things to know before you buy ADA Cardano

By Amy Luong
August 28, 2021

ADA – the native token of Cardano blockchain hit a new ATH at 2.899 on Monday as a result of investors’ expectations on its upcoming smart contracts feature. The bullish trend has raised anticipations that it could reach $3 in the near future. If you are going to invest in ADA, don’t miss this article. Let’s find out 5 things to know before you buy ADA Cardano. 

>>>Read more: Buy crypto with credit and debit cards in Singapore<<<

ADA cardano 5 things
Let’s find out 5 things to know before you buy ADA Cardano

ADA Cardano has a limited supply 

Cryptocurrency can have a limited or unlimited max supply. Bitcoin is a significant example of cryptocurrency with a limited max supply of 21 million Bitcoin. Similar to Bitcoin, ADA Cardano has a maximum supply of 45 billion ADA and over 33 billion ADA in circulation. 

>>>Read more: What is Solana network?<<<

ADA cardano price prediction
ADA Cardano has a maximum supply of 45 billion ADA and over 33 billion ADA in circulation

ADA Cardano relies on Proof-of-Stake consensus mechanism 

Cardano network is developed based on the proof-of-stake system in which certain validators put up a stake of their ADA cryptocurrencies to confirm the validity of a block in the blockchain. Validators would earn a certain amount of crypto as a reward. 

Cardano developer team 

Cardano has an excellent developer team to make this project successful. Charls Hoskinson – founder and CEO of Cardano is a trained mathematician. He is the former co-founder of Ethereum and current CEO of the blockchain company Input Output (IOHK). 

ADA Cardano news
Charls Hoskinson – founder and CEO of Cardano is a trained mathematician

In 2015, Hoskinson started the Cardano project which shares many similarities with Ethereum. Both Ethereum and Cardano are programmable blockchains using smart contracts. 

Cardano project has been funded and developed by three organizations:

  • IOHK: a blockchain company in Hong Kong with an aim for network establishment. IOHK works in conjunction with researchers at numerous universities. 
  • The Cardano Foundation: a non-profit organization that supports the research and development of the Cardano, also taking responsibility for promoting the project. 
  • EMURGO works closely with the Cardano Foundation and IOHK, the other founding organizations of the Cardano project, to help crow the Cardano ecosystem globally and increase adoption of the Cardano blockchain.

>>>Read more: What happened to AXS surge?<<<

Alonzo hard fork updates

The upcoming Alonzo hard fork updates will bring the network much closer to its full potential. 

ADA Cardano All-time-high
The Alonzo hard fork would allow more implementation of smart contract functionality

In detail, the Alonzo hard fork would allow more implementation of smart contract functionality. A smart contract is a piece of computer code that automatically executes when certain conditions are met. When the Alonzo hard fork is updated, users can start creating and deploying their own smart contracts on the Cardano network.   

How to buy ADA Cardano

Since ADA Cardano is one of the largest cryptocurrencies with the top market capitalization, traders and investors can easily find it on various crypto trading platforms. Below are some platforms that ADA has been listed: 

  • Tokenize Xchange
  • Binance
  • Coinbase
  • Kraken
  • SoFi

Today you can easily sell and buy ADA on Tokenize Xchange. Also, you are able to stake ADA from 5%. 

What do you think about ADA? Is ADA Cardano a good investment or not? Keep following Tokenize Blog for more market news and cryptocurrency information!

Subscribe to Tokenize Blog 

Get updated with our guides, tips, and market news to help you in your investment.

ADA
Cardano