What is Cardano cryptocurrency: More information about Cardano, a proof-of-stake cryptocurrency

2019-07-16T11:40:13.000Z Honest Cash

 Cardano  is a  native cryptocurrency created on cardano blockchain whose transaction takes place from one peer to another without involvement by the government thus is being considered to be decentralized.Cardano cryptocurrency was created to enable users to earn interest for staking their cardano.

cardano transaction takes place on the Cardano blockchain Explorer based on  block slots, slot leader and timestamp. To view how  transaction takes place on the cardano blockchain explorer, simply follow the link below;  


Cardano was first released to the public in 2017 but was created in 2015 with the main objective of  allowing individual to earn certain percentage of cardano based on the amount they stake .

 Cardano was created by Charles Hokinson who is also one of the cofounders of  Ethereum, bitshares and ethereum classic.Charles Hokinson is also a cryptocurrency entrepreneur.

Unlike other cryptocurrencies like bitcoin and Ethereum which are created based on proof -of-work through the mining process in the presence of electricity and internet using GPU and CPU, for Cardano, that is not the case. Instead, Cardano cryptocurrency is created as a proof-of-stake. Unlike in proof-of-work where new coin is added to its blockchain in form of a block and reward the miners who shared their computing power, for Cardano, this is not the case. Instead, Cardano holders are the one who are considered to add a block of the already existing Cardano cryptocurrency to the cardano blockchain after which they will be rewarded a certain percentage of Cardano based on their staking. No GPU or CPU is involved in this mining process

The maximum supply of Cardano to the cardano blockchain is expected to be 45,000,000,000 .The first supply was made during cardano pre-launched where 31,112,484,646   were sold to investors. The other 13,887,515,354 will be released from mining through staking.

Currently, 1 Cardano  is worth more than $0.058 and its price is expected to increase over the next period of time. Cardano is being abbreviated as ADA.  

To convert your Cardano to other cryptocurrencies such as bitcoin , you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Cardano to bitcoin  


Storing my Cardano

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