Cardano – At The Forefront of Blockchain
The cryptocurrency market continues to gather followers thanks to its popularity and increasing profitability. One of the latest ones to achieve great success is Input Output Hong Kong (IOHK) with the development of Cardano, a ‘blockchain’ that has managed to attract the interest of investors.
With its creation in 2017, Cardano appeared in the bullish run that lasted until the beginning of this year. It’s cryptocurrency, called ADA, shot up in a short time in the digital tokens’ ranking and became one of the top ten by market capitalization in a short period of time.
After the well-known success of Bitcoin, the market tried to replicate this technology generating thousands of cryptocurrencies as a result. Some of them are also well known such as Ethereum, Litecoin or Ripple. All with a common attribute, dependence on a chain of blocks or ‘blockchain’ that is responsible for transferring and validating each of the generated transactions. Despite the fact that Satoshi Nakatomo’s file was the first practical case to behave in this way, there are currently dozens of ‘blockchains’ for this same use. Some of them, like Cardano, allowing developers to access their technology.
These visitors can thus execute a wide variety of applications in the chain such as intelligent contracts and decentralized applications. Cardano’s technology was perfected thanks to the experience of Charles Hoskinson, co-founder of Ethereum, although both cryptocurrencies hold a major difference.
Cardano presents a structure of two very different layers, a first called ‘Cardano Settlement Layer’ (CCSL), which carries out cryptocurrency transactions and another one called ‘Cardano Computation Layer’ (CCL), to execute applications designed by programmers . In Ethereum, both layers are entwined.
The eToro platform, leader in social trading, allows its more than six million users to invest in the short and long term in Cardano as well as a great variety of cryptocurrencies. The ‘CopyFunds’ are a good way to start doing it. These are investment portfolios that integrate a number of cryptocurrencies, managed automatically according to the criteria and decisions of the experts hired by the platform. In addition, due to its social nature, the platform allows its members to consult the positions of the most successful partners or ‘Popular Investors’ and to be able to replicate their strategies.
Pete Southern is an active trader, chartist and writer for market blogs. He is currently technical analysis contributor and admin at this here blog.
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