Cardano is a decentralized platform that will allow complex programmable transfers of value in a secure and scalable fashion.
It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers. The protocol features a layered blockchain software stack that is flexible, scalable, and is being developed with the most rigorous academic and commercial software standards in the industry. This has led to an increase in ADA price.
Cardano will use a democratic governance system that allows the project to evolve over time, and fund itself sustainably through a visionary treasury system.
Ouroboros is the first peer-reviewed, verifiably secure blockchain protocol, and Cardano is the first blockchain to implement it. Ouroboros enables the Cardano network’s decentralization, and allows it to sustainably scale to global requirements without, crucially, compromising security.The protocol is the culmination of tireless effort, building on foundational research, and is propelled by a vision for more secure and transparent global payment systems, and a means to redistribute, more fairly, power and control.
Let us review ADA Price
ADA Price Prediction
ADA price surged by over 50% in the past week. This has put ADA in the 3rd place in the global crypto ranking based on total market cap. The total market-cap of ADA has reached almost $70 billion.
ADA broke out of the resistance zone at $1.48 and made an impressive run towards the higher fibs. It is currently trading above the 0.618 fib at $2.00. If it can stay above this support zone, we could see a move towards $2.52. Once the resistance at $2.52 breaks, we could see a move towards $3.37 and $4.74. Failure to break the resistance at $2.52 could lead to a drop towards $2.00, $1.84, $1.68 and $1.48.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinons relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.