Learn more about Cardano, what it is, the current price, market cap and all the latest news. Visit Coin Culture for the latest Cryptocurrency news.
- Cardano (ADA)
- Live Price $1.444
- Market Cap $46,296,036,404.80
- Volume $1,042,135,500.75
- Available Supply 32,066,390,668 ADA
- Rank 8
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If you’re looking for cryptocurrency alternatives to Ethereum and Bitcoin, you may be interested in Cardano. Cardano is increasing in popularity. The price of one Cardano is currently $1.36 AUD. While this may not seem like much, you should remember that the price of Bitcoin was only $2 in 2012. Cardano is just getting started, and if trends are anything to go by, it is worth considering if you’re looking to diversify your investment portfolio.
History of Cardano
Cardano is a decentralized blockchain platform founded in 2014 by Charles Hoskinson. Hoskinson is well known as being the co-founder of Ethereum. Therefore it is not surprising that his project would rise quickly in the crypto space to become the third-largest crypto asset.
Like Ethereum, Cardano is a decentralized platform. However, it was developed to provide a platform for research and implementing innovative solutions to many of the problems that Ethereum presents including scalability.
Cardano’s development team consists of a large collection of international experts in research and engineering. No other blockchain projects have published as many papers as this project. With so much data and information, the project has received endorsement from several governments.
Cardano is also different from other blockchain projects in addressing regulatory oversight. The project aims to provide a means for regulatory oversight whilst providing innovative solutions that maintain customer privacy. Cardano features a layered blockchain software stack that makes the platform scalable and flexible.
While promising, Cardano still has a long way to go in functionality.
Cardano’s native ADA token has increased in popularity in the last few years. The number of wallets with the ADA has surpassed the 3 million mark. This spike in popularity is despite the sluggish conditions of the crypto market. The digital currency experienced a surge at the beginning of 2022, when the number of Cardano wallets increased by 13.8%. This was a steep rise from 2,666,372 wallets at the beginning of the year to 3,015,400 by the first week of February. There were more than 9000 wallets added in a month. These numbers are impressive for any cryptocurrency.
The increase in popularity of the ADA is a testament to the passion of those behind Cardano. This popularity is set to increase when Cardano rolls out smart contracts. The platform has been slow in implementing smart contracts considering that it was established by one of Ethereum’s co-founders. However, the platform has finally begun to roll out smart contracts, and the future can only get brighter.
Cardano reached hit 1000 smart contracts in January and it looks like activity on their smart contract network is picking up. Their community has been awaiting this rollout for years. Now that it is finally up and running, there has been a significant increase in developer activity as well as working smart contracts.