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What is Cardano?

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Table of contents: 
1. What is Cardano
2. Founder(s)
3. Token
3.1 Max. Supply
4. Price prediction
5. Official website
6. Where to buy Cardano
7. Crypto taxes
8. MarketCapOf

What is Cardano

Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies.

With a leading team of engineers, Cardano exists to redistribute power from unaccountable structures to the margins — to individuals — and be an enabling force for positive change and progress.

Founder(s)

Charles Hoskinson is an American software developer and entrepreneur who is the founder of the Cardano blockchain platform and co-founder of the Ethereum blockchain platform.

In 2013, Hoskinson quit a consulting job to begin a project called the Bitcoin Education Project. According to Hoskinson, the limited supply makes Bitcoin like a digital form of gold.

Cardano logo, a cryptocurrency developed by Hoskinson’s company, IOHK.

Hoskinson joined the Ethereum founding team as one of eight original founders with Vitalik Buterin in late 2013. For a brief time Hoskinson held the position of CEO at Ethereum. Buterin removed Hoskinson from Ethereum in 2014 after a dispute over whether the project should be commercial (Hoskinson’s view) or a nonprofit (Buterin’s view).

In late 2014, Hoskinson and former Ethereum colleague Jeremy Wood formed IOHK (Input Output Hong Kong), an engineering and research company that builds cryptocurrencies and blockchains. IOHK’s key project is Cardano, a public blockchain and smart contract platform that hosts the ADA cryptocurrency. Hoskinson did not pursue venture capital for Cardano, citing that it runs counter to the blockchain’s principles Hoskinson has also said that venture capital involvement might lead to an outsized control of a project.

Forbes has estimated Hoskinson’s wealth as $500m-$600m.

Token

Ada is a digital currency. Any user, located anywhere in the world, can use ada as a secure exchange of value — without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.

Every ada holder also holds a stake in the Cardano network. Ada stored in a wallet can be delegated to a stake pool to earn rewards — to participate in the successful running of the network — or pledged to a stake pool to increase the pool’s likelihood of receiving rewards. In time, ada will also be usable for a variety of applications and services on the Cardano platform.

It is named after Ada Lovelace: a 19th-century mathematician who is recognized as the first computer programmer, and is the daughter of the poet Lord Byron.

ADA MAX supply

By November 2021, over 33 billion Cardano tokens were issued and in active circulation — getting closer to the coin’s maximum supply. Similar to Bitcoin but unlike Ethereum, the ADA token has a fixed supply limit with only 45 billion cryptocurrencies being able to ever exist in the coin’s lifetime.

Price prediction 2022

Price predictions are usually made by professional analysts or algorithms that analyze market trends and other factors that indicate a possible price trajectory. Forecasts should be interpreted with caution and should not be an eliminating factor in the individual’s decision to make an investment in a certain asset. Before investing, take into consideration other factors such as the legitimacy of the company, social sentiment, their commitment and works done.

Visit both Walletinvestor.com and cryptopredictions.com for some algorithm generated Bitcoin price predictions (links below):

Website(s)

Cardano’s official website.

Where can I buy ADA Cardano

Nowadays buying ADA Cardano is very easy as it is available for purchase on many different platforms. See some suggestions listed below:

1. Change Invest;
2. BitMart;
3. Coinbase;
4. Crypto.com;
5. Nexo;
6. Binance;
7. Bitrue;
8. Gate.io;

Are cryptocurrencies taxable?

ADA and other cryptocurrencies may be taxed depending on the country you are in. In the USA, the IRS considers cryptocurrency holdings to be “property” for tax purposes, which means your virtual currency is taxed in the same way as any other assets you own, like stocks or gold. Nonetheless, Koinly has got you covered. Check it now, Koinly is the the cryptocurrency tax calculator you’ll enjoy using!

MarketCapOf

Just for fun, you can see what the value of other cryptocurrencies would be if they had bitcoin’s market capitalization. MarketCapOf has one of the simplest tools to calculate if your cryptocurrency is undervalued or overvalued.

The example below shows that if ADA had the market cap of bitcoin today, its price would be around $26.

Price of ADA with the market cap of Bitcoin on FEB. 10th 2022

Ledger

Store your ADA coins in a Ledger wallet and take it completely off the network . Ledger wallets are hardware cryptocurrency wallets. Ledger’s hardware wallets are multicurrency wallets that are used to store private keys for cryptocurrencies offline. Ledger offers two hardware wallets: the Ledger Nano S and the Ledger Nano X wallets.

Click on the link below to know more about Ledger wallets and see if you find it a good fit to your needs.

And this is it. ✔️ Now you know a bit more about Cardano.

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Disclaimer

Any content contained in these crypto related articles should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.

The author is not responsible for any losses incurred as a result of using any of the suggested trading platforms.

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Tecmeup

Tecmeup

Trainer by day with 12+ years of experience in performance management in contact centre environment. I like eating, sleeping and other things.