Some of you may have heard of Cardano recently. It actually just moved up to 4th spot on the CoinMarketCap rankings overtaking XRP (Ripple) after seeing a roughly 100% increase in token price over the last 7 days at the time of writing. Some of you may have heard about Cardano quite some time ago, regardless this post is for you to hopefully learn some things you may not have known about Cardano and what they are doing.
1: Developing a multi-use chip to help advance cryptocurrency and bring it back to the real world.
Cardano Foundation announced last May that they are working on a chip to help give digital cryptocurrency users a cashlike experience when out in the physical world. Chips will be able to help you pay for things directly from your wallet in actual cryptocurrency instead of just paying for it with the fiat value of the crypto you have like most "Crypto Cards" available today. The chip will also be useful in helping identify goods and would be embedded in whatever goods, say a Louis Vuitton bag or a Canada Goose Jacket to help provide authenticity when transferring goods and to help prove ownership.
2: One of the Founders, Charles Hoskinson.
Charles Hoskinson is a very smart man, he is one of the original Co-Founders of Ethereum (The now number 2 overall Cryptocurrency). He is also very likeable and interacts frequently with the community through his Youtube Q&A Videos and Livestreams. He may have his critics for how he handles things sometimes however this man speaks more often than not very carefully and choicefully. His methodical approach to things can be seen throughout Cardanos development as they will not release anything until they are sure it is ready and having gone through vigorous testing.
3: The low transaction fees.
As we all know, or will get to know, the gas fees on Ethereum can be crippling at times meaning we often end up losing a big chunk of money when transferring out of exchanges and between wallets. Thankfully on Cardano the fees are minimal (<1%) and soon we will see a surge in DeFi activity on Cardano thanks to the recently implemented Smart Contract update. This also means we may soon see other tokens being issued on the Cardano network to help govern whatever dApps they are for, meaning more transactions and usage on the network.
4: Staking.
Staking your Cardano is a great way to help maintain the network and also help locking your coins to reduce the overall amount on exchanges and in wallets to stabilise prices and help push overall token prices up. I stake using BINANCE usually using their 60 or 90 day Locked Savings Options. This also in turn helps me earn more money as I get a reward for staking my ADA, between 6-18% depending on how i stake my coins and how long for.
5: My gut tells me this is something special.
The more I read into Cardano, the more news they release, the more I feel I need to work 100 hour weeks for the next year and trade every penny of my earnings for Cardano. The last time I had a feeling like this was when i came across bitcoin again in 2014 after first using it in 2011. I missed that opportunity and regretted it come the 2017/18 bull run. I never will make the same mistake again, Not just because of the money i could of made, but because I love cryptocurrency and blockchain technology and I'm genuinely excited for the future of it, and I really feel Cardano will be around for Decades to come.
