WHAT IS CARDANO?
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano uses a new innovative proof of stake algorithm called Ouroboros, which determines how individual nodes reach consensus about the network. Ouroboros eliminates the need for an energy-hungry proof of work protocol, which stands as a barrier to blockchain scaling up for much wider use. Cardano is developing a smartcontract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
Trading recommendation for ADA
Cardano (ADA) has had almost 2 month of heavy selling, since its all time high of 9180 satoshis it has broken every support where slight recovery was expected and it could gain momentum and stabilize its price, adding up to the general bear market the cryptocurrencies went through. It appears that ADA has started a bull run after bouncing from 1673 satoshis on March 18th which is the lowest price since its ATH reaching 2245 satoshi today March 20th. For the time being, the coin is in recovery phase accumulating volume, its value is increasing, and taking advantage of Bitcoin recent bull run.
ADA’s projection is to retake 2500-3000 satoshis range by the end of april, due to the roadmap update they have schedule for April 5th and the release of the ‘GOguen’ testnet by the end of April.
Written By: @toposvalley