Cardano (ADA) Price

What is Cardano?

Cardano is a smart contracts platform like Ethereum that focuses on security. The decentralised public blockchain is open-source in nature and offers scalability and security through layered architecture. The platform is capable of running financial applications that are used by individuals and governments on a daily basis. Charles Hoskinson, one of the co-founders of Ethereum conceptualised Cardano. It was officially launched in 2017.

Features of Cardano

Cardano is built from Haskell, a programming language which uses a math based approach for a more secure and reliable protocol. It is capable of running decentralised applications, also known as dapps that operate on a blockchain instead of being controlled by any single party. Cardano focuses on three main elements viz, scalability, interoperability and sustainability. Cardano uses a custom proof-of-stake (PoS) algorithm called Ouroboros. In comparison to the the proof-of-work, the proof-of-stake algorithm is better, as it uses less energy and enables faster processing of transactions.

The currency behind Cardano is known as Ada. It is used to receive and send digital funds. A secure and multi-platform wallet called Daedalus is required for Ada cryptocurrency. At present, you can store Ada currency in Daedalus wallet only.

Where to buy Cardano?

Cardano tokens are listed on several exchanges like Binance, UpBit, Bittrex, Huobi, Vebitcoin and others. The market capitalisation of Cardano as of May 2018 was $7,978,900,396.

Cardano Mining

As Cardano uses proof of stake method, the Ada tokens cannot be mined.

Cardano Wallets

The price of one Cardano token at the time of writing this article was $0.3077. As mentioned earlier Ada currency needs Daedalus wallet.

Cardano Price Trends

DateOpenHighLowCloseVolumeMarket Cap
5/30/20180.2036850.2180230.2011840.2111435280970000222612000
5/29/20180.1754750.2087390.1741530.203194549560000185184000
5/28/20180.1936960.1949770.1740020.174783502196000095106200
5/27/20180.1963540.1964360.1923220.193557509088000058991000
5/26/20180.1997610.2054920.1958950.196567517921000060616400
5/25/20180.209060.2106360.197320.200655542031000083368000
5/24/20180.2033240.2133020.1931090.2089895271600000127678000
View MoreLess

Risks involved with investing in Cardano

Cryptocurrencies are volatile in nature as it is difficult to predict their rise and fall. Moreover, they are subject to risks due to regulations and policies. Therefore, we would suggest you to invest in mutual funds instead as they are a more reliable option in terms of investment.

Disclaimer:

"The Reserve Bank of India (RBI) and Ministry of Finance has frequently cautioned the users, holders and traders of virtual currencies regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with virtual currencies. RBI also further clarified that it has not given any licence/authorisation to any entity/company to operate schemes or deals related to Bitcoin or any virtual currency. RBI has also barred its regulated entities from dealing or providing services to any individual or business entities dealing with cryptocurrency. The Ministry of Finance has also officially stated that virtual currencies are not legal tender or coin.

A&A Dukaan Financial Service Private Limited (“BankBazaar”) does not endorse investing or dealing in virtual currencies in any manner. The information provided on our website is solely for illustrative purposes and should not constitute investment advice or assistance in investing or dealing with crypto currencies. If you decide to invest or deal in cryptocurrencies, you should be aware that you will be dealing with the respective individuals or business entities dealing in cryptocurrency and BankBazaar has no role in any manner in such transactions or dealings. We strongly advise our visitors to invest in legally recognised financial instruments rather than risking their capital on virtual currencies which are unregulated instruments."

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.