Among the emerging currencies, one of the steadily growing currencies is
ADA coin. It’s a very popular currency, but why did it get so much attention?
What is ADA coin?
ADA Coin is an emerging currency that was just released in October 2017. The maximum issuance limit is 45 billion ADA, of which 32 billion are on the market. As of May 2018, it is named “Cardano” and is ranked 7th in the market capitalization ranking. By the way, Cardano is an open source decentralized platform, and the currency used on that platform is “ADA coin”. This is the reason why it is called Cardano or ADA coin. Originally, Cardano started building an online casino platform with the goal of “realizing a fair and equitable casino. Therefore, you can see that the Cardano logo is also designed like a casino coin. Until now, casinos have had problems with money, such as illegal exploitation of money from customers. The Cardano project was started to improve it, but now the policy is being changed so that it can be used for a wider range of purposes.
For example, recently, the Ethiopian government has received Cardano technology
to track the coffee supply chain
Why has it become so popular?
Feature 1: The developers are amazing!
The success of a project has various factors such as the functional aspect of currency and marketing, but one of the most important factors is “who is developing it”. Charles Hoskinson is a leading cryptocurrency leader and a big player in the development of Ethereum.
For that reason, ADA coin has attracted attention because of its high reliability.
Feature 2: Existence of Plutus
A mechanism that automatically and reliably executes contracts is called a smart contract. Currently, this smart contract is implemented in Ethereum, the virtual currency that ranks second in the market capitalization ranking, but Cardano seems to implement its own smart contract using a programming language called Plutus. This is more secure than Ethereum’s smart contracts, and has improved functionality such as the ability to execute multiple contracts. Ethereum is the mainstream now, but maybe in the future Cardano will be used for smart contracts.
Feature 3: Quantum computer resistance
Currently, block chain technology underpins the foundation of cryptocurrency technology. A block chain is a ledger that exists on the Internet and records transaction history. In the image of a large number of books called ledgers lined up on a shelf in a large library called the Internet, all ledgers are associated with each other and their contents are kept consistent so that they cannot be rewritten. This work requires considerable calculation, and it is said that it is impossible even if all the personal computers on the earth are combined. However, quantum computers that will be developed in the future have higher processing power than current personal computers. Therefore, if a quantum computer is realized, there is a concern that the block chain will be broken. In consideration of these points, Cardano plans to develop a block chain that cannot be broken even by a quantum computer
Where can I buy ADA coins?
It can be purchased through overseas transactions such as Binance and Bittrex, which triggered the price listing of ADA coins.
What is the future of ADA coins?
Since Charles Hoskinson is involved in the development of ADA coin, it can be said that there is considerable future potential. In addition, we are developing in cooperation with universities in each country, including Institute of Technology, so there is no need to worry about the technology. Also, as mentioned earlier, Cardano recently entered into a partnership with the Ethiopian government. There aren’t many virtual currencies that can be associated with the national level, so by the way, in January 2018, four Fin Tech experts discussed several cryptocurrency stocks, and ADA coins are expected to grow 80 times by the end of the year. No one can say for sure, but there is no doubt that it is a currency with high expectations.
Initially, ADA coin was rumored to be a fraud, but that worry seems to have disappeared. If development goes smoothly, it may become a currency that surpasses Ethereum. It is one of the currencies that I would like to pay attention to in future marketing and partnership talks.