Cardano (ADA) Price

Making use of a customised algorithm, Ouroboros, Cardano is a math-based approach to offer a secure protocol for users. It makes use of the ADA cryptocurrency. Here are more details about the ADA currency.

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

Date

Open

High

Low

Close

Volume

Market Cap

5/30/2018

0.203685

0.218023

0.201184

0.211143

5280970000

222612000

5/29/2018

0.175475

0.208739

0.174153

0.20319

4549560000

185184000

5/28/2018

0.193696

0.194977

0.174002

0.174783

5021960000

95106200

5/27/2018

0.196354

0.196436

0.192322

0.193557

5090880000

58991000

5/26/2018

0.199761

0.205492

0.195895

0.196567

5179210000

60616400

5/25/2018

0.20906

0.210636

0.19732

0.200655

5420310000

83368000

5/24/2018

0.203324

0.213302

0.193109

0.208989

5271600000

127678000

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
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.