Summary: Cardano (ADA) is 1 year old – best of times are still ahead of us

One year ago Cardano was launched in Tokyo. Since then Cardano’s crypto currency, ADA, has been one of the 10 largest crypto currencies in the world. But the best times for Cardano are still ahead of us.

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Meanwhile it is already 1 year ago that the Cardano main network went live. Exactly since 1 October ADA can be traded. One of the founders of the project is Charles Hoskinson, who was also a co-founder of Ethereum. After the dispute about the DAO Hack he said goodbye to Ethereum (he still supports Ethereum Classic) and dedicated himself entirely to Cardano. He himself describes Cardano as a technology that succeeds Ethereum.

Even though ADA has been traded for a year now, many functions of Cardano are not yet live. So Cardano will be able to execute Smart Contracts later, but so far this is only possible in the test network. There is a lot of research going on around the technologies, so Cardano also works with many universities. Cardano is therefore often referred to as a scientific research project.


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Unlike Bitcoin and Ethereum, Cardano is not based on the proof-of-work algorithm, which requires energy-intensive mining. Instead, Cardano relies on Proof-of-Stake, a system to which Ethereum also wants to switch.

Since the launch of Cardano, more than 150 people have been working on the project. In addition, ADA has long been listed on many of the leading crypto trading platforms such as Binance, Bittrex, eToro and BitMEX. So anyone who wants to trade ADA has the opportunity to do so on these platforms.

From the outside, the development of Cardano is progressing very slowly. However, this is mainly due to the fact that Cardano relies on new technologies in all areas and must therefore first carry out research in many areas before the technologies can really find their way into Cardano. In the long term, however, this strategy will certainly pay off.

As with all other crypto currencies, the price of ADA initially fell again after its high in December 2017 and January 2018. While the all-time high was still above 1 US dollar, it is currently only 0.08 US dollar. So there is still a lot of upside potential if Cardano continues to drive its development forward properly and continues to implement everything on the roadmap on time.

The fact that Cardano has one of the biggest and competent teams in the industry is surely a generator of high hopes and expectations most of the crypto community has for this project. Sure, Cardano is in top 10 with no serious working product but once the assumed potential starts to transform into actual value, those who stayed patient enough with this coin will surely be rewarded.

 

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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