In the shadow of $BTC , $ADA , the coin of the Cardano blockchain, is increasingly coming into focus. Its price has skyrocketed by an astronomical 1450% since the beginning of this year - and is currently trading at 2.55 USD per coin.
The coin has the potential to be much more than just a digital means of payment. The blockchain behind it is used in the field of cryptographic contracts, so-called smart contracts. The goal is, for example, to automate bank transfers in the crypto world. Cardano is thus in competition with $ETH .
𝐖𝐡𝐲 𝐢𝐬 𝐀𝐃𝐀 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞?
Ada is considered an environmentally friendly bitcoin alternative. Its mining - consumes less computing power. This is precisely why the coin is promising. Cardano is inherently more energy efficient than Bitcoin as it uses a 'Proof-of-Stake' consensus mechanism where those participating in the currency buy tokens to join the network. This innovative blockchain protocol values the percentage of coins a miner holds rather than the processing power they possess (as is the case with the so called "Proof-of-Work"-system from Bitcoin).
𝙏𝙝𝙚𝙤𝙧𝙚𝙩𝙞𝙘𝙖𝙡𝙡𝙮, 𝙩𝙝𝙚 𝙥𝙧𝙤𝙤𝙛-𝙤𝙛-𝙨𝙩𝙖𝙠𝙚 𝙨𝙮𝙨𝙩𝙚𝙢 𝙘𝙤𝙪𝙡𝙙 𝙖𝙘𝙝𝙞𝙚𝙫𝙚 𝙢𝙤𝙧𝙚 𝙩𝙝𝙖𝙣 𝙛𝙤𝙪𝙧 𝙢𝙞𝙡𝙡𝙞𝙤𝙣-𝙩𝙞𝙢𝙚𝙨 𝙩𝙝𝙚 𝙚𝙣𝙚𝙧𝙜𝙮 𝙚𝙛𝙛𝙞𝙘𝙞𝙚𝙣𝙘𝙮 𝙤𝙛 𝙖 𝙥𝙧𝙤𝙤𝙛-𝙤𝙛-𝙬𝙤𝙧𝙠 𝙨𝙮𝙨𝙩𝙚𝙢, 𝙡𝙞𝙠𝙚 𝙗𝙞𝙩𝙘𝙤𝙞𝙣'𝙨. 𝙏𝙝𝙚 𝙛𝙤𝙪𝙣𝙙𝙚𝙧 𝙤𝙛 𝘾𝙖𝙧𝙙𝙖𝙣𝙤 𝙘𝙡𝙖𝙞𝙢𝙞𝙣𝙜 𝙩𝙝𝙖𝙩 𝙩𝙝𝙚 𝙘𝙧𝙮𝙥𝙩𝙤𝙘𝙪𝙧𝙧𝙚𝙣𝙘𝙮 𝙣𝙚𝙩𝙬𝙤𝙧𝙠 𝙘𝙤𝙣𝙨𝙪𝙢𝙚𝙨 𝙤𝙣𝙡𝙮 𝟲 𝙂𝙒𝙝 𝙤𝙛 𝙥𝙤𝙬𝙚𝙧. 𝙏𝙝𝙖𝙩 𝙡𝙚𝙨𝙨 𝙚𝙣𝙚𝙧𝙜𝙮 𝙩𝙝𝙖𝙣 𝟬.𝟬𝟭% 𝙤𝙛 𝙗𝙞𝙩𝙘𝙤𝙞𝙣'𝙨 𝙣𝙚𝙩𝙬𝙤𝙧𝙠.
Better are only BitGreen (BITG) and SolarCoin (SLR), which do not even have close to the market capitalisation. Comparison to market capitalisation:
𝐀𝐃𝐀 = 𝟗𝟎 𝐛𝐧. 𝐔𝐒𝐃
𝐁𝐢𝐭𝐆𝐫𝐞𝐞𝐧 (𝐁𝐈𝐓𝐆) = 𝟐.𝟓 𝐛𝐧.
𝐔𝐒𝐃 𝐒𝐨𝐥𝐚𝐫𝐂𝐨𝐢𝐧 (𝐒𝐋𝐑) = 𝐔𝐒𝐃 𝟐𝟓𝟎,𝟎𝟎𝟎
Cardano was developed by the co-founder of Ethereum, Charles Hoskinson, and was tested by academics and scientists as the world's first peer-reviewed blockchain. It functions mainly as a digital currency but can also be used for digital contracts, DApps (decentralized apps), and other purposes. And: Compared to Bitcoin's 7 transactions per second (TPS), Cardano with its hydra head (processing pool) can process up to 1,000 TPS.