Cardano is a type of blockchain platform, and it works by processing transactions using a special kind of cryptocurrency named ADA. The big goal of Cardano is to create a network that connects different blockchains together smoothly. Their aim is to create an “Internet of Blockchains.”
ADA is the currency that makes the Cardano network run. Cardano wants to be faster, user-friendly with other systems, and eco-friendly, unlike Bitcoin and Ethereum. It achieves this by using a “proof of stake” method to verify transactions. To use the Cardano platform, users to pay transaction fees, and these fees are paid using ADA.
The validators receive it as a reward for running the proof of stake system. ADA is one of the most popular crypto. You can buy it from most top cryptocurrency exchanges. Binance, Coinbase, Gemini and Kraken.
Cardano named its crypto asset ADA after Augusta Ada King, the Countess of Lovelace. She lived in the 19th century and people often consider her as the world's first computer programmer. Participants who stake their ADA token in the network are eligible to receive rewards, contributing to the PoS consensus mechanism.
- Charles Hoskinson founded Cardano in 2015, and it was officially launched in 2017.
- Cardano is a platform for decentralized applications (or dApps), and it supports a variety of assets and smart contracts.
- The system runs on the Ouroboros PoS consensus protocol.
- Three main entities govern Cardano in a decentralized way: The Cardano Foundation, IOHK, and EMURGO.
Cardano vs. Ethereum
Cardano sees itself as a “third-generation” blockchain, a step up from Ethereum’s “second-generation” tech. Both Cardano and the other platform offer smart contracts and similar features. However, Cardano has a specific goal of being faster and providing financial services to people worldwide. This is especially important for those who do not have access to traditional banking services.
How To Buy Cardano or Add it to your Strategy
The fastest, most convenient way to purchase Cardano is to purchase it on ICONOMI. We check Cardano live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Cardano by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Cardano is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Cardano, we recommend you read the next section, as copying might be a better approach.
Add Cardano to your portfolio by copying a Strategy
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Cardano in their structure.
