What is Cardano? (ADA)

Cardano ADA

Ada Coin is a cryptocurrency used in “Cardano”.

Conventional online casinos are set up in such a way that participants lose, and the problem is that the system is designed to ensure that the promoter always wins.

Cardano is an online casino that incorporates blockchain technology, which stores records of play and makes them available to users, making it extremely fair.

Name Cardano
Symbol ADA
Current price (May 2021) $1.70
Market Cap (May 2021) $54,360,205,799
Date of Launch 2017
Max Supply 45,000,000,000 ADA
Official Site https://cardano.org/

Why was Ada Coin said to be suspicious?

Ada Coin is one of the most popular virtual currencies today, but at one time it was suspected of being a fraudulent coin.

The following are some of the reasons.

  • The unit price was high in the presale.
  • It was delayed for more than 6 months from the scheduled release

Ada Coin was pre-sold with a minimum unit price of $1,000.

Cryptocurrencies with a high minimum unit price for pre-sales in ICOs are often fraudulent coins that run away with the proceeds after the pre-sale is over, so it was suspected that Ada Coin was also a fraudulent coin.

The main reason for this was that it was more than six months later than it was supposed to go public, which made people think that it might be a scam coin.

Delays in the public release schedule are common in cryptocurrencies, but the high minimum unit price for the ICO presale of Ada Coin also led to suspicion of fraud.

Implementing Smart Contracts

Ada Coin is a cryptocurrency with smart contracts implemented.

Smart contracts are a well-known feature implemented in Ethereum, but Ada Coin’s smart contract is a unique one called “Plutus.

By incorporating Plutus, it is expected to become a cryptocurrency with stronger security and higher functionality than Ethereum.

Smart contracts are used to automate contracts, but Plutus not only handles contracts, it also records personal information.

Major Update: “Ouroboros Project”

Ada Coin is planning to implement a major update, the “Ouroboros Project”.

The Ouroboros Project is a plan to change the consensus algorithm of Ada Coin from PoW to PoS.

The current PoW has the disadvantage of costing a lot of money for machines and electricity.

However, by changing to PoS, it will be possible to receive rewards for mining depending on how long and how much Ada coin is held.

This makes it fairer and more eco-friendly to mine than PoW.

Future prospects and forecasts for Ada Coin (ADA/Cardano)

Not only can you use Ada Coin to play online casinos with Cardano, but we are also developing technologies such as blockchain and smart contracts.

Furthermore, it has set a goal of “3 billion wallets” and is expected to spread in the future.

Partnering with universities and large corporations

Ada Coin is partnering with universities and large corporations one after another.

Thus, as more companies and universities partner with us in the future, there is a possibility that the price will rise.

Since the developer of Ada Coin is Charles Hopkinson, a genius mathematician who was also involved in the development of Ethereum, many people praise Ada Coin as a promising coin.

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