ADA Cardano
ADA is the Native Token of Cardano and is currently trading at $1.10 per Token. Cardano named it's Native Token ADA after a 19th-century mathematician who was recognized as the first computer programmer, the daughter of renowned poet Lord Byron. Ada Lovelace.
The official Cardano website stresses the importance of keeping your Cardano safe and your Private Keys Private. I for one applaud them for stressing that within the first 3 paragraphs of their website. They recommend the Daedalus Wallet. That recommendation isn't mine, solely Cardano. I did download the wallet and after I write this article I do plan on installing the wallet and checking it out. I am a fan of Exodus Wallet but in order to be in the World of Crypto you have to open to trying new technology.
Cardano, "A groundbreaking proof of stake blockchain network" focuses on the DAPP side of the Blockchain by aiming to achieve scalability, interoperability and sustainability. Cardano was designed with the hopes of being the platform of choice for developers in large scale applications or "mission critical DAPPS that will underpin the economy of the future."
Cardano prides itself in being open source, allowing for easier development beyond the means of it's number one competitor Ethereum, while other projects such as Holochain exist with the same goals in mind, Cardano has major backers driving the Cardano ADA Train. Cardano was designed by a global team of experts who are leaders in disciplines ranging from distributed sustems to programing languages and game theory, also jointly developed by IOHK and partners. IOJK develops the technology while the Cardano Foundation is responsible for supervising the development and promoting Cardano.
That last sentence is a bit scary, to me, I believe the underlying value that was brought to the Ethereum Network was because of the man responsible for programing Ethereum and promoting it as well. Since he programmed Ethereum he was an expert at promoting it. I'd personally rather hear the programmers and developers more so than the Foundation responsible for promoting it. The Cardano Foundation considers themselves to be nothing more than custodians that operate the network in a non-decentralized way. Although they plan on releasing it to be completely decentralized and governed by the community in the future once it is able to sustain the system.
"GOGUEN
Smart Contracts
With the integration of smart contracts, the Goguen era represents a big step forwards in capability for the Cardano network. Where the Shelley era decentralizes the core of the system, Goguen adds the ability to build decentralized applications (DApps) on Cardano's solid foundation of peer-reviewed research and high-assurance development.
The work for Goguen has been under way in parallel with Shelley, and when complete will allow users from technical and non-technical backgrounds to create and execute functional smart contracts on the Cardano network. One of the goals for the Goguen era has been the creation of Plutus, a purpose-built smart contract development language and execution platform using the functional programming language Haskell. Plutus is already available for testing and brings the benefits of functional programming to smart contract creation. It also allows one code base to support both on and off-chain components, improving the coherency and usability of the development experience compared with existing smart contract implementations.
The Goguen era also encompasses work to make Cardano accessible to wider audiences via Marlowe, allowing financial and business experts with no previous technical knowledge to create smart contracts. Marlowe is a high-level, domain-specific language (DSL) for financial contracts which is built on Plutus. Marlowe comes with the Marlowe Playground, an easy-to-use application-building platform that non-programmers can use to build financial smart contracts. Together, Marlowe and the Marlowe Playground simplify the process of creating smart contracts for financial applications, allowing subject matter experts to directly contribute without requiring deep programming skills. The combination of Plutus and Marlowe will enable a new class of enterprise-level smart contracts with verified functionality, capable of underpinning large scale implementations in the real world.
As well as adding functionality in the form of smart contracts, Goguen will also see improvements to the core Cardano offering. Most significantly, the addition of a multi-currency ledger will extend the usefulness of Cardano even further, enabling users to create new natively-supported tokens. This will allow the creation of fungible and non-fungible tokens, supporting the creation of new cryptocurrencies on Cardano as well as the tokenization of many types of digital and physical assets. Another benefit will be easier integration of smart contracts and DApps involving multiple cryptocurrencies.
The Goguen era represents a step change in the abilities of Cardano, opening the way to the development of enterprise-level, mission-critical, decentralized smart contract applications, with even more exciting things to come during the Basho and Voltaire eras." Source https://roadmap.cardano.org/en/goguen/
My Final Thoughts
While Cardano doesn't seem to have as much information as most Crypto's on their own site, they still have a strong chance of doing some major things in the World of Crypto. I read a tweet earlier that said, "What if Ethereum is the Myspace of Crypto."
That comparison alone is brilliant. I love it. Ethereum will forever be known as the Crypto that brought smart contracts and the ERC-20 Toke Era about. Ethereum alone isn't a sustainable solution for mass majority of individuals whom can't afford $200 per transaction which is insane when you think about all of the other choices whom don't have insane gas fees.
I understand the need for gas fees in order to remain decentralized, miners have expenses and they deserve to be rewarded for that hard work, you know, plugging in a miner and tweaking some settings and collecting money. I know, it doesn't sound hard, but without these people whom continue to mine BTC and other cryptos we wouldn't have the networks that we have now. They have major expenses involved with mining and they deserve what they make, but $200 per transaction is beyond reasonable and fair.
That is why Crypto's like Cardano will be major, kind of like a tidal wave in the community of crypto until ultimately the development community chooses which platform they love the most and we see that platform out grow all of the current platforms, ultimately developers will decide which Crypto becomes the Facebook, Twitter of Crypto.
I like the idea of Cardano, I have made a decent amount off of Cardano, so I can't complain in that aspect. I don't really know of any DAPPS that are going to launch on Cardano that would be of interest to myself. I do know that they have major financial backers. A lot of Crypto You Tubers are on board the Cardano Train.
I believe it could easily range somewhere from $5.00 all the way up to $45.00 over a few years. I don't think we are going to Ethereum style adoption anytime soon with Cardano. The current price as of now in my opinion is heavily over priced based upon speculation and belief of what it could replace.
The facts are, it is going to be extremely hard to compete with Ethereum, especially if Ethereum can fix the gas fees with the upcoming update. We will see a major surge in Ethereum DAPPs
We are still within the early days of Crypto and we are watching and observing as all of theses projects get launched to the world and we have to wait and see if adoption matches the price, Bitcoin, BCH, Ethereum have enough adoption to match the prices we are seeing, does Cardano?
In my opinion, No. Will they? It very well could happen in the future which is why I own a small bag of Cardano, nothing in comparison with Gene Simmons or Bit Boy Crypto but I still own a small amount to take advantage of the market prices.
I wish I had more to say about Cardano, but I don't...
Thanks for reading, God Bless You and Stay Healthy!
