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Cardano Fundamental Analysis
Ada is a native token of the Cardano network – one of the oldest projects in the space, founded in 2015 and aiming to overcome the issues plaguing other Level 1 blockchain networks, such as scalability and interoperability while keeping the network just as secure. Its creator is Charles Hoskinson, a co-founder of Ethereum, who had a vision of commercializing blockchain tech, as opposed to keeping it non-profit, which resulted in him leaving Ethereum.
Cardano’s stated purpose is to provide the platform for dApp development. While it may not be a unique use case, what sets Cardano apart from similar projects is its technology. Cardano employs a team of highly qualified scientists and boasts peer-reviewed research as a base for all the technological developments in the ecosystem. Cardano is managed by three entities: IOHK, which oversees the technological side, Cardano Foundation, responsible for the platform expansion, and Emurgo, working with entrepreneurs and dApp developers to commercialize the platform.
The network is secured using the Proof-of-Stake consensus protocol first developed by academic researchers, called Ouroboros. It allows users to stake their ADA tokens in a mining pool or delegate them to the pools to earn rewards. It’s one of the first PoS solutions, more energy-effective and environmentally friendly than Proof-of-Work. ADA is also used as a currency, enabling transactions within the network.
Cardano Live Price Chart
Cardano began 2021 on a strong note, surging above $1.3 in February on the wave of public enthusiasm for crypto. Ada’s price continued to rally in the spring, experiencing an all-time high of $2.46 in May. After the general trend on the crypto market reversed and prices started to fall, Cardano followed suit, and Ada’s price gradually declined. However, by July it still didn’t go below $1, besides, Cardano’s price graph has been following a wide wedge since its latest peak, which is very promising for Ada’s future.
Cardano Technical Analysis
Cardano Price Prediction
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#4. LongForecast ADA Price prediction for 2021-2022
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