Currently there are thousands of Crypto Currency that you can invest in and make 50x 100x 500x profit depending on the market. But why is Cardano (ADA) getting so much attention these days.
So let’s find out in details about the things you should know before investing in Cardano to be safe. And why it’s popular all of a sudden.
What is Cardano (ADA)?
Launched in September 2017 after 2 years of development, Cardano is very different from other crypto currency. While majority of the crypto is developed on White Paper contract and implementing it straight to code, Cardano was developed on Peer review papers where experts from around the world read their papers and approved the code.
Cardano claims to be the 3rd generation of Crypto Currency. 1st generation begin Bitcoin & 2nd Ethereum.
Long Run Strategy
Even though Cardano has been around from quite a while now we haven’t seen any massive spikes in their value so far. The major reason is because the team of Cardano is here for the long run. All their updates and changes get’s reviewed properly before the announce the next step.
Things such as these proves that Cardano wantd to stay and dominate the market in the coming future. Taking every steps carefully and adapting to market and customer.
The Projects which keeps on rolling out new updates every few weeks tends to die out after short period of time because they don’t have any thing new to offer. Cardano is not making such mistake which proves that they are here indeed for the long run.
Future Plans
Team of Cardano has built the project in a belief that their crypto token will be used throughout the world as a regular currency.
From paying School Fees, or in Retail market, even buying lands and trading in Share market will do done through Cardano is what the ADA team hopes for.
Will Government Approve?
Most of the Crypto transactions are done on Peer-to-peer basis. That means no details are stored anywhere about any of the participants doing the transactions.
Government requires Meta Data to keep track of all banking transactions. That is why no government in the world has approved any Crypto Currency as legal tender yet.
Cardano provides a option to users whether they want to share their Meta Data with any government or not. If users wants they can be completely anonymous while making transactions, or if they are comfortable providing the data then they will have that option too while using Cardano.
In this way Cardano’s vision is to make it as centralized currency with approval of Governments. No doubt there will be many hurdles but the team is ready to cross everything to make their token the currency of future.
So that’s all the basic information about Cardano which should be enough for new crypto investors. Hope you find it useful and may you make the right decision.
