Hoskinson said regulators could label Bitcoin and Ethereum as securities just as easily as ADA if they wanted to.
What is Cardano?
Cardano is a public blockchain working under the Ouroboros Proof-of-Stake algorithm. It’s touted to be the first one to have been founded on peer-reviewed research. It was founded by Charles Hoskinson – a mathematician who also co-founded Ethereum.
Cardano is also developing a smart contract platform that is supposed to deliver more advanced features than its competitors. It should serve as a stable and secure platform for developers to create enterprise-level decentralized applications (dApps).
How Does Cardano Work?
Cardano was primarily initiated as a two-layer protocol that separates the ledger of the accounted figures from the reason for which these figures are passed from different accounts.
This distinct separation lets the smart contracts (still to be deployed) on the platform be more compliant.
Cardano works through the Ouroboros Proof of Stake (PoS) algorithm. The core innovation that Ouroboros introduces beyond security is a modular and flexible design that enables the composition of many protocols to enhance the overall network functionality.
Cardano’s Token: ADA
ADA is the native token of Cardano. Interestingly, it’s named after Ada Lovelace – a 19th-century mathematician who is recognized as the very first computer programmer, also the daughter of the poet Lord Byron.
Every ADA holder also holds a stake in the network. Token holders can also delegate their tokens into a staking pool and earn rewards and participate in the governance of the blockchain.
Going forward, once Cardano’s smart contracts are live, ADA should also be usable for a variety of applications and services.
It has become one of the world’s largest cryptocurrencies, with a total supply of 45 billion.
What Are The News With Cardano in 2021?
In 2021, Cardano moved closer to integrating smart contracts on its network and continued with the new developments, in general.
On March 1st, the team launched the Mary update. It introduced core Goguen features of native token functionality and multi-asset support. On the other hand, Goguen is a major upgrade stage on the Cardano roadmap that introduces smart contracts and also the ability to build decentralized applications.
Recent Cardano News
"I like that guy. And you know what crypto is the answer," Hoskinson said.
Lucid thinks ADA's market capitalization could surge to $500 billion.
ADA-PERP, LINK-PERP, DOGE-PERP, and XLM-PERP perpetual future contracts will become available for Coinbase users on November 30.
Bitcoin (BTC) Developments, Ripple (XRP) Price Tags, Bullish Cardano (ADA) Prediction: Bits Recap Nov 27
BTC remains in a "Greed" zone, XRP is projected to rise before the end of 2023, while ADA could hit
A consolidation, a slight rise, or a 3,000% price increase: what does 2024 hold for Cardano (ADA)?
According to ChatGPT, factors like favorable market trends and regulatory developments could trigger a price rally for ADA next year.
Technological developments and positive market sentiment could potentially help ADA surpass XRP next year, ChatGPT estimated.
"If you are interested in doing a decentralized LLM, then hit me up. Would be a fun Cardano Partnerchain," Hoskinson
"$400 billion market cap for Cardano is realistic, it's $11 for ADA," Dan Gambardello opined.