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Cardano climbed 20% when BTC,ETH fell 20%.

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1 year ago

Last week the cryptocurrency market bled heavily after the tweet from Elon which stated that Tesla wont accept Bitcoin anymore due to climate concerns.

Bitcoin fell heavily following the tweet along with other major crypto's. But Cardano(ADA) avoided the fall and started climbing, climbed more than 20% to an all-time high right after the tweet.

1-week chart.

The main reason behind this rise is the Environment-friendly side of Cardano. So let's check what makes Cardano environment-friendly.

What is Cardano?

Cardano ADA is one of the biggest cryptocurrencies by market cap($66.5B). Cardano is a blockchain project that can run smart contracts, just like Ethereum. But Cardano was designed to be more efficient than Ethereum. It is a third-generation blockchain, while Ethereum is a second-generation blockchain. ADA Coin is the cryptocurrency of Cardano.

 

What makes Cardano Environment-Friendly?

Unlike Bitcoin or Ethereum, which uses proof-of-work technology that requires a large amount of processing power contributed by virtual miners, Cardano uses unique proof-of-stake technology, which uses a network of invested participants as validators. Based on the amount of ADA each investor holds, the network distributes the rewards in ADA to the validators.

Another factor that contributed to the climb is the fact that Cardano recently became a fully decentralized network.

 

How to mine Cardano?

You can mine Cardano in various ways, even with your mobile(android/ios).

Use this link to signup with Minergate . In the downloads section you can download the miner and start mining straight away.(This is a referral link).

If you want to mine on your computer I recommend you to join some miner pool inside Minergate

 

 

Thank you for reading the post.

Given below are some referral links. If you use these links I will get a small reward.

 Join Coinbase now to receive $10 in free Bitcoin when you spend your first $100.

Sign up on Binance now to trade crypto with their easy to follow UI.

Sign up with Minergate and join a mining pool to mine crypto with your PC.

 

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