Cardano, known under the abbreviation ADA, is a top-notch coin ranked at the 5th spot on the global coin ranking list. This is the case thanks to the fact that Cardano isn’t just a small randomly designed coin made to earn some profit for developers, investors, and holders – it is a coin with a purpose: and obviously a good one since this digital token has many hidden potentials when it comes to both investing and operating with. Let’s check out all the reasons why Cardano might potentially become your next great investment.
What is Cardano all about?
If compared to another fellow digital token, Cardano is more likely to be closest to the way Ethereum works. The way this token is similar to Ethereum platform reflects the usage of smart contracts within Cardano system. ADA is hosted on Cardano blockchain-based network, and the main purpose behind this token isn’t transferring all transactions to decentralized platforms. It rather represents the idea of having banks easily operating with their clients’ funds and accounts.
Besides from creating a decentralized platform similar to Ethereum, Cardano creators have gone a step further in securing the system. So, instead of having a decentralized system that allows users make completely anonymous and encrypted transactions at low fees and fast speed, they are looking for a way to regulate the blockchain system while also respecting the needs users.
That means that Cardano developers are trying to find a perfect balance between having a decentralized platform with present regulations that will not in any way jeopardize either privacy of users or integrity of decentralized platforms. This can be a very tough task to do given the fact that blockchain networks are highly unregulated.
Many people claim that decentralized platforms should be immune to such regulations because no regulations mean freedom for them. But, what these peps might be missing along the road is the fact that the regulations implemented within the Cardano platform may mean more stable and more secure network. These regulations aren’t made to propose any third parties getting involved with different processes and transactions occurring within this platform, but to rather enable a more functional ecosystem.
That is why Cardano is using Haskell. Haskell is a programming language that has a high level of tolerance for mistakes. That means that Cardano is looking for a solution that would enable its blockchain core to obtain flexibility. The flexibility of decentralized platforms and tokens hosted on these platforms is more important that you might think. This is the case because blockchain technology has no defined future, so we cannot be sure in which ways may blockchain technology along with decentralized platforms evolve and change. So, by using Haskell, Cardano developers are making room for fault factors – in case an error occurs, Haskell will enable fast bounce off of the system, which is precisely the thing a decentralized platform would need in case of a “breakdown.”
How well is Cardano doing at the Current Moment?
Currently, Cardano is ranked as the 5th best coin on the global coin ranking list, although it is currently suffering from decreases.
Cardano is now worth 0.37$ per one unit, with the latest decrease of a bit over -4% against the dollar. But, as we have already mentioned, decreases don’t mean that the coin is losing on its true value. After all, Cardano is presented as a promising coin given the fact that the developers of this platform and ADA tokens are stepping up their game by providing a unique experience of having a mildly regulated decentralized platform that should enable faster banking systems, especially in the developing world.
In case you take a look at the market, you will see that Cardano isn’t the only token losing on its price – there are more coins suffering from decreases, than coins enjoying having increased prices at the current moment. So, having ADA tokens suffering from decreases isn’t an isolated case.
What 2018 Could Be Like for Cardano?
The developers have scheduled a meeting for February 28th where they will be giving updates to investors about the progress of this platform and its tokens. If you remember (in case you are following up with the latest news about cryptocurrencies), whenever a meeting or a change for a certain coin was announced, the same day or the day before, lots of people would be buying coins which would always result in increasing market capitalization.
The case might be the same for Cardano after this announcement, so it wouldn’t hurt to invest in at least a 100 of these – it would cost you less than 40$, and your investment could potentially lead to a win-win situation on the long run.
For now, it is not certain how fast the bounce off of ADA tokens could occur, but one is for certain – Cardano is a promising decentralized network set to a trend of creating improved and more flexible decentralized systems, so owning this coin is a win by itself despite the latest decreases.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency.