5 things to know before you buy ADA Cardano
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.
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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.
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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).
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.
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Alonzo hard fork updates
The upcoming Alonzo hard fork updates will bring the network much closer to its full potential.
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
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!
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