What is ADA coin? How to buy ada coin in Binance

What is ADA coin? Stay up to date with the latest highlights and ways to own ADA

ADA coin It is currently one of the most popular cryptocurrencies on the market. There are many investors who want to invest in ADA but do not really understand how this is a cryptocurrency and how to own it. That’s also why we wanted to share this article!

Learn about what ADA coin is

What is ADA coin

Brief information about ADA Coin

Try to find out first What is ADA coin? and compared to other electronic coins it has nothing more outstanding. ADA or Cardano is known as a decentralized blockchain platform. The founder of this coin is Charles Hoskinson. This is also the founder of another very familiar cryptocurrency – Ethereum. In 2017, Cardano was officially launched on the market and through ICO successfully raised capital with a total amount of up to 60 million USD.

Let’s find out what ADA Coin is

ADA allows developers to create DeFi decentralized financial economy as well as build dApps.

Since its launch until now, in the face of many big “blood changes” in the crypto market, Cardano has always stood firm and is constantly thriving. Show coins ADA coin This is in the top #3 of the most valuable virtual currencies on the cryptocurrency market with a total value of $80 billion.

Highlights of ADA coin

The reason ADA coin become so successful is because it possesses many outstanding features. In particular, it can thoroughly solve 3 major problems of blockchain, which are:

Scalability, Interoperability, Sustainability

Cardano has many outstanding advantages

Ability of extension

Usually, when it comes to scalability, people will immediately think of TPS transactions per second. However, for ADA coin then scalability is the following 3 factors:

TPS – Transaction Per Second:

• The developer has included in Cardano a lot of Ouroboros consensus algorithms, belonging to the Proof of Stake group

Network:

• Cardano is used RINA (Recursive Inter – Network Architecture) a technology capable of dividing the network into many subnetworks and these subnetworks when necessary can interact with each other for the purpose of increasing bandwidth.

Data Scaling:

• There are 2 possible solutions

ADA coin

Interested in is Sidechains and Subscriptions (regional division) to help reduce data size per transaction

Interactive abillity

There are many different blockchain platforms on the market, but unfortunately, they cannot communicate or interact. However, according to the developer’s roadmap, after the Goguen phase, ADA coin There will be a solution to the problem of interoperability between blockchains.

Sustainability

For blockchain projects, sustainability is extremely important. In order for this virtual currency to work stably in the long run, the Cardano Foundation will need a sufficient budget to help Cardano grow even after the contract ends with IOHK in 2020. That is also the reason that Cardano considers building a reserve fund similar to what Dash has done. That is, when a new block is generated, a portion of ADA will be collected.

ADA coin details

Name, supply, contract ADA coin

ADA’s full name is Cardano and officially released at the end of 2017. The smallest unit of ADA is lovelace, in which 1 ADA = 105 lovelace. The total supply of ADA is 45,000,000,000 and the circulating supply is 32,140,000,000.

With 45,000,000,000 ADA total fixed supply has been divided into 3 parts by the developer:

Market sale via ICO: 25,927,070,538 ADA ~ 57.6% Cardano Foundation, Emurgo and IOHK hold: 5,185,414,108 ADA ~ 11.5% Staking rewards: 13,887,515,354 ADA ~ 30.9%

The chart shows the supply division of ADA

Starting September 2015, ADA coin was sold and ended in January 2017. During this period, 5 rounds of sale took place and nearly 26 billion ADA were sold, bringing the total amount raised to nearly 63 million USD. Specifically:

Japanese investors buy: 94.45% Korean investors buy: 2.56% Chinese and other investors buy: 2.39%

Specific information:

Ticker: ADABlockchain: CardanoConsensus: Proof of Stake (PoS)Algorithm: OuroborosToken Type: CoinContract: 0x3EE2200Efb3400fAbB9AacF31297cBdD1d435D47Block time: 20 secondsSmallest unit: 10^-5 ADATransaction Time: 250 TPSADA,000,000 AD SupplyAC

After a relatively long wait, ADA finally has its own smart contract. This event has received a lot of attention. And in just a short time, ADA has recorded over 200 different smart contracts.

Current rate

At the moment, you can refer to the exchange rate of ADA coin market cap on the market at CoinmarketCap: https://coinmarketcap.com/currencies/cardano/

Rate of ADA coin

These rates are for reference only and may change at different times, depending on market fluctuations.

How to own and trade ADA coin

Unlike BTC or ETH you cannot mine ADA. Instead, you can only staking this coin on Yoroi, Exodust Wallet, Daedalus or Leadger because it uses the Proof of Stake (PoS) consensus mechanism.

If you want to buy, sell and trade ADA coins, you can go to cryptocurrency exchanges like Binance, Etoro, Huobi, Bitmon or Aliniex, for example.

Roadmap and team of developers

Roadmap of ADA coin

According to the developer himself, Cardano will go through 5 stages of development, which are:

Byron:

• This is the first stage of Cardano. There are two main tasks that need to be done in this phase. One is ADA community development. The second is to launch this electric currency. ADA will work thanks to the designated nodes along with the block reward burned

Shelley:

• In the 2nd stage the ADA network has become more decentralized and staking is possible

Goguen:

• Implement smart contract and sidechain deployment. That is, at the Goguen stage developers can implement dApps on Cardano

Basho:

• The main job of this 4th phase is to optimize scalability and interoperability between different blockchains

Voltaire:

Make ADA a self-operated network by the community. The development of the ADA network will be based on voting, user voting

Detailed Roadmap of ADA coin

Team developer / backer (if) of ADA coin

Founder ADA coin is also the founder of Ethereum and BitShares – Charles Hoskin son. Responsible for the management and operation of ADA includes 3 organizations, namely: Cardano Foundation, IOHK (Input Output Hong Kong) and Emurgo. However, the specific contribution activities of these three organizations to Cardano have not been specified. But most likely all 3 are involved in building Infrastructure for ADA and contributing to Wallet, Oracle, etc.

Closing and Disclaimer

Here is the information about ADA coin. With what we share, you probably already know what ADA coin is and what are the highlights. If you want to own and trade this virtual currency, you can also follow the way we have shared.

Disclaimer: The information we share above is only for the purpose of providing information about ADA coin for your reference. This is not investment advice or encouragement. Therefore, you need to actively research and consider carefully before deciding to invest or not. We are not responsible for any damage in your ADA investments.

Currently, the Vietnamese state does not provide legal support for any electronic currency, you still have the right to mine and use it, however, when there is a dispute or conflict, the state has no obligation to assist in resolving these issues. this problem.