Cardano is a decentralized blockchain that promotes rigorous, academically-reviewed programming to increase network security. Its native cryptocurrency is ADA, it can be bought and traded on cryptocurrency platforms.
The essentials to know about Cardano
Creation of the ADA crypto
According to Mr. Hoskinson, its creator, Cardano is the first blockchain to offer scalability, security and decentralization. Most blockchains excel in two of these attributes, but trade-offs make achieving all three qualities difficult.
The Cardano blockchain is developed by a number of separate foundations. IOHK is in charge of technical development, while Emurgo takes care of marketing and promotion, and the Cardano Foundation is in charge of the protocol as a whole.
Cardano aspires to be able to run decentralized applications or DApps in the future. But it’s still in development.
How does Cardano work?
Compared to other blockchains, Cardano follows a somewhat different paradigm. Its blockchain has two levels: a settlement layer and a computation layer. The development of the first layer is finished. It allows users to transfer and receive ADA tokens between their wallets.
The second layer is under development, the goal being to allow users to develop Dapps.
Crypto ADA: your opinion and prediction for 2022
- ADA Global Rating: 7/10
Opinion on the Cardano project
The Cardano project has seen increased popularity in 2021 with advancements on the smart contract project. On the other hand, the fact that the network does not natively have DeFi functionalities is a disadvantage and other more competitive blockchains such as Solana are overshadowing it.
Price Volatility Notice
ADA has shown high volatility in 2021, rising from $3 to $1.2. Other more recent cryptocurrencies have shown themselves to be more stable over the same period.
Medium Term ADA Price Prediction
The price could hover around 1 dollar for quite a while.
Long Term ADA Price Prediction
ADA’s long-term outlook is mixed, with a break down of $1 expected due to the loss of competitiveness of its blockchain.