Why you should invest in Cardano crypto in 2023 is explained here. How cardano can become the next Ethereum is also shared here and some information about the founder is also shared.
At the time of writing this blog post the cardano price today is $0.366735 USD and 24 hour volume is $393,749,862 USD. ADA coins circulating supply is 34,658,741,108 and highest supply is 45,000,000,000.
Cardano buying opportunity
List of top currency exchange where you can get the opportunity of buying cardano crypto currency.
Read this – Cardano the new Ethereum
Cardano is a proof of stake blockchain platform. It has a goal to allow innovators, change makers, and visionaries to bring positive global change. The interesting thing is cardano was founded by the co-creator of ethereum blockchain network named Charles Hoskinson. More interestingly now this blockchain network is quickly becoming DApp development platform. If you are thinking to invest in cryptocurrency in 2003 then cardano must be in your portfolio because today it is one of the fastest growing project in cryptocurrency world. Extensive researches are done by the team behind its open source blockchain and they regularly publish its results in peer reviewed academic papers.
One of the ethereums co founders Charles Hoskinson and his colleague Jerry Wood left the etherum foundation due to some internal disagreement. They began project cardano in 2015 and in the beginning the company was established as input output (IOHK). Later in 2017 it was reformed as cardano network and ADA token.
ADA – ADA is a native token to cardano blockchain and provides the facility to use the token for peer to peer transfers globally. Via initial coin offering (ICO) total 45 billion token supply was distributed to the distributors and ecosystem secured $62.2 million in funding.
Reasons to invest in cardano proof of stake
Cardano is founded by one of the co-founder of ethereum. Ethereum is one of the biggest technology used for pear to peer transfer. But it has a drawbacks such as high gas fees and people have to pay more while using ethereum blockchain. This drawback is actually an opportunity to other networks to enter in this field and capture the gas fees market. Although there are some other networks including solana and bittorrent that give the same facilities but cardano is ahead of all of them at the moment. You might think how cardano and these other networks are able to offer less gas fees. Actually all these networks are built on proof of stake technology which is less energy intensive whereas ethereum is built on proof of work algorithm technology relied upon bitcoin. However, etherum is also upgrading to proof of stack (POS) but gradually.
What is cardano?
Cardano is a cryptocurrency having proof of stake blockchain platform.
Where can I buy Cardano ADA tokens?
You can buy ADA coins at various platforms including Binance, BTCEX, OKX, Deepcoin and BYBIT.
Should I invest in cardano in 2023?
Yes, you can invest in it because it is one of the fastest growing blockchain network in 2023. Proof of stake algorithm is one of the solid reasons to invest in Cardano.
Can cardano really beat ethereum?
Yes, there are high chances due to the (POS) proof of stake structure of cardano.
Explain proof of stake vs proof of work?
Proof of stake – This technology is less energy intensive resulting in low gas fees.
Proof of work – This technology is high energy intensive resulting in high gas fees.
Examples – Ethereum is built on a proof of work algorithm (POA) therefore has high gas fees. Cardano is built on proof of stake technology therefore has low gas fees.
Name some proof of stake platforms?
Cardano, Bittorrent and Solana.
Cardano vs ethereum investment which is good?
However Ethereum is already a bigger blockchain network but for long run you can invest in cardano due to its POS algorithm.