What is This Cryptocurrency? Cardano
While there are many cryptocurrencies that are used to develop smart contracts, there are few that do the job completely. Ethereum, Neo, and EOS are some cryptocurrencies that could potentially allow for a new fin tech revolution to occur with the use of smart contracts. Cardano is another cryptocurrency that can allow individuals the ability to use smart contracts. While this is not the only characteristic that makes Cardano impressive, there are many other reasons why Cardano is an interesting cryptocurrency.
The reason Cardano has increased in importance has been due to the team associated with the project. Most of Cardano’s creators are academics that have knowledge about computer science. While it is not necessary to have a degree in something to be an expert, it does help. Cardano also has the ability to create a new system or protocol that allows for layers to be built on top of the system allowing for an increased level interoperability and efficiency. While scalability and interoperability are two major topics that cryptocurrency still needs to work on, Cardano is a cryptocurrency that may help solve some of the questions that occur.
Cardano has recently had an increase in its value due to the integration of the new system called Shelley that allows the community that has ADA tokens to stake the tokens on the ADA wallet. The system also allows for a better user experience that allows for an increased rework of the scalability and interoperability. While there is still much to be done in each cryptocurrency project, some projects are holding on to the roadmap better than others.
Other cryptocurrencies that are capable of developing smart contracts can provide for an experience that allows the community, individuals, or companies the ability to build on top of an already existing project. It is interesting to see if Cardano will be the smart contract token that will change the cryptosphere or if it will be able to work in cooperation with other projects.
Staking is also a reason that ADA can be valuable. Not only does it hold value but can potentially allow those who stake the coin to get an incentive for their help. There are several other coins that allow staking as well such as Tezos, Dash, and Atom. While staking should be seen as a secondary characteristic, it helps in gaining the attention of those who want to make use of their cryptocurrencies.