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What is Cardano all about
Cardano, a project that was created by a former co-founder of Ethereum Charles Hoskinson, has a number of similarities to the current second-largest cryptocurrency. However, Cardano bills itself more as a project looking to tackle the issues that have cropped up since Bitcoin and Ethereum first came to prominence.
Ethereum is often seen as the next generation of Bitcoin and added many new applications to the underlying blockchain technology, but Ethereum is a first generation project. Meanwhile, Cardano is looking to be the next abstraction of Ethereum and tackle scaling and infrastructure problems. This is why it labels itself as ‘the first third-generation cryptocurrency.’
Cardano is built with a number of issues in mind. It is a proof-of-stake coin to help tackle scaling issues; it is also looking to make blockchains more interoperable with the use of side chains and finally, it is tackling sustainability with what its creators describe as a "constitution" of protocols to avoid messy hard forks.
Cardano, like Ethereum, is aiming to be an all-encompassing blockchain platform that will move beyond the settlement layer to a Control layer. This means it can serve as a trusted computation framework for sophisticated systems, ushering in a new base layer for blockchain.
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ADA Questions & Answers
What is Cardano's current price?
Currently, the price of Cardano is at 1.83 EUR.
When did Cardano hit its highest price?
The price of Cardano reached its highest point on 2021-09-02, when it was at 2.61 Euro.
Is Cardano going to be worth more in one month time?
According to our prediction algorithm, we expect, the price of Cardano will be anywhere between €1.84 and €2.37 1 month from now.
How much will Cardano cost 90 days from now?
According to our prediction we expect that Cardano's cost will reach anywhere between €1.84 and €2.67 in three months.
What is the price of Cardano going to be in six months?
It is very difficult to predict the future accurately, however according to our short term prediction we expect that Cardano's cost will reach between €1.84 and €3.32 six months from now.
Is Cardano a popular project?
636842 users engaged in discussing Cardano online on Reddit in the last 48 hours. Cardano's official Twitter profile currently is followed by 660731 people.
Is Cardano the same as Ethereum?
Cardano was created to be what is known as an ‘Ethereum-killer’. Ethereum is a revolutionary blockchain, and changes the entire space, but as the first in programmable blockchains there are some issues that need addressing. Cardano was created by a former founder of Ethereum to better the possibilities.
What makes Cardano different to other blockchains?
Cardano is doing similar things to Ethereum and other blockchains, but it has taken a more strategic approach to its evolution by being the first blockchain to be peer-reviewed and developed by academic experts in the field.
What does ADA do on the Cardano network?
ADA is the network’s native cryptocurrency, which like Ethereum, has multiple uses. ADA does hold as a store of value, but is also involved in facilitating operations across the Cardano network.
What is the difference between the ‘settlement layer’ and the ‘computational layer’?
Cardano operates with a Layer one — the settlement layer — which is a typical blockchain where transactions are written and settled. And it then has a Layer two — or the computational layer, where transactions are made to be scaled and adjusted to operate better with different layer two solutions.