If you are in Japan, you already know this, since it’s called the Ethereum of Japan. If you are actively involved in cryptocurrency and blockchain development, you probably already know this as well. But if you’re an investor, you need to know this. Cardano (ADA) is poised to become one of the biggest, if not the biggest players, in the blockchain realm. Many believe it to be the blockchain for ADA cryptocurrency, but that’s not where the buck stops. There’s more to it, and there are many reasons why it is poised to have a great future. As it is trading for a low price of $0.14, now’s the time to buy ADA. Here are a few reasons.
Reasons to Buy Cardano (ADA)
- Efficient use of technology and practices
Cardano is a 3rd generation coin so it has to take care of issues like scalability, sustainability, and interoperability. To tackle scalability issues like data storage, bandwidth, and transactions per second, Cardano has its own techniques. Since it is not a large blockchain so far, storage is not a concern as of now. Bandwidth issue is solved by maintaining a network of sub-networks which divide the load among themselves and interact in a TCP/IP model. Transaction issue is solved using Ouroboros system where epochs or time segments are assigned slots. Slot leaders have to take care of transactions during each assigned epoch.
- Treasury for future development
Sustainability is ensured with the use of a Treasury. Many cryptocurrencies are contemplating hosting another ICO to gather funds for development, but Cardano (ADA) is miles ahead in that regard. It has a wallet not belonging to anyone by the name of Treasury. A small portion of each transaction is deposited in this. Developers can then put forth their development plans and the need and cost requirement for them. Users can vote on which changes are necessary and the smart-contract powered Treasury will then release the funds.
- A project developed by scientists and academics
Cardano is probably the only blockchain project to have used a bottom-up approach. It has always been proactive rather than reactive, which is evident from the fact that it was created by a team of academics, engineers, and scientists. Charles Hoskinson, previously of Ethereum, is one of the co-founders, and the entire team has skilled and experienced personnel that have given it a strong base to grow out from.
- Daedalus Wallet and future plans
The Daedalus wallet is something that adds further value to Cardano. It is a multi-platform wallet for ADA wherein users can store ADA, make payments, and also claim ADA as rewards. It is one of the most secure wallets around and can also be exported to paper or cold storage wallets. Cardano team is also working to develop their Android and iOS app as well as an application store to host community-developed dapps. All these are slated to be incorporated into the Daedalus wallet, with plans also there for Bitcoin and Ethereum Classic support.
Cardano (ADA) is currently trading for as little as $0.14. With many updates and releases planned for 2018, this price is sure to rocket in the coming months. If you are an investor looking for a good option, then this could be the jackpot you have dreamt of. Cardano has one of the most supported and prominent communities and receives backing from developers and researchers from around the world.
The team of academics behind Cardano has done diligent work to ensure that Cardano has everything needed to be a major force in the future. With the way they have gone about things so far, that future could be pretty soon. The opportunity to invest in a promising asset for cheap is there for you. All you need is to make the decision. As the staking option comes into play, you will only gain more Cardano (ADA) and have more profits.