With all these coins and tokens on the market, it’s fun but somewhat stressful to figure out what’s the next big cryptocurrency that’s going to explode. You may have heard of ADA or Cardano, but what is it, and why should you care? Let’s find out!
What’s ADA Cardano?
Initially released in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is a public blockchain platform using a Proof of Stake (PoS) algorithm called Ouroboros. This algorithm was made to facilitate peer-to-peer transactions executed with Cardano’s very own cryptocurrency, ADA.
Should I invest in ADA?
Let’s be honest, the ADA token was just another one of these unknown coins for quite a while until now. However, yes, you should totally invest in ADA while it’s still cheap! Its price didn’t go over $2 yet (as of June 18th, 2021), but as many crypto signals telegram groups stated, it shouldn’t be long before we see some interesting spikes on the exchange.
Could Cardano make you rich?
Many cryptocurrency experts think that Cardano will considerably increase in value in the next few years. It is important to note that you will be able to use the ADA currency (along with other tokens such as Davinci, Curie, and Babbageto) to pay for certain things, such as Open AI API’s resources.
If you are wondering what Open AI is, it’s basically a super-smart AI that can write entire lines of codes for you, or manage and reorganize documents. Obviously, let’s not give this AI access to nuclear missiles, we don’t want Terminator movies to become a reality, right?
Are Cardano and Ethereum the same thing?
Yes and no, as Cardano blockchain’s structure was inspired and developed with Ethereum’s foundation in mind. Therefore, if you invest in the ADA token, you will quickly notice that most of its trends are similar to the ones of Ethereum. In other words, we could say that Cardano is like a second chance for crypto investors who missed out on Ethereum’s rise to 2k+.
What are the price predictions for Cardano in the coming years?
According to current stats and several experts in the field, Cardano ADA should see a steady rise to at least $3 by the end of 2021. Next, we are looking at an increase from $3 to $5+ by 2023, and this could bring us all the way to $15 by the end of 2025!
Do you see Cardano’s potential or are you just going to keep an eye out for that one for the time being? In all cases, it will probably take a while before ADA goes to the moon, so you still have time to find a seat on the rocketship in the meanwhile.