Wednesday, September 8, 2021

Cardano Cryptocurrency Could Become More Valuable Than Bitcoin

The little-known cryptocurrency ADA, from the Cardano platform, could become the most valuable in the digital world, even surpassing bitcoin or Ethereum, but why? ADA could become the largest digital currency in the cyberworld due to the fact that it has increased 1000 percent in value during 2021.

In the last week of August, Cardano's price rose more than 36 percent, surpassing Binance coin and taking third place among the most valuable cryptocurrencies on the market. On Monday, September 6, Cardano reached a price of $2.8 million, according to Investing.

The ADA cryptocurrency has risen in price as blockchain enthusiasts seek more environmentally friendly options and, according to Charles Hoskinson, founder of Cardano, its network uses less energy than 0.01 percent of the bitcoin network.

In addition, Cardano's underlying technology does not rely on supercomputers to process transactions and generate new ADA units.

What is Cardano?

Cardano is a blockchain platform and has its own cryptocurrency, which is known as ADA.

The cryptocurrency is called Augusta "Ada King" or Ada Lovalace, as it honors the name of a 19th century British countess, who was known for her work on a theoretical computing engine.

In 2015 it was created by Ethereum co-founder Charles Hoskinson and was launched on the cryptocurrency market in 2017. 

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