Cardano and its Cryptocurrency know as ADA

More and more companies and individuals are becoming interested in everything that surrounds the world of ‘Blockchain’, investing large amounts of money in their environments, and causing names that were not known outside to begin to stand out, as is the case of Cardano.

Cardano, and its cryptocurrency ADA, were created in 2015 by Charles Hoskinson, known for being the co-founder of Ethereum (ETH) and BitShares. Shortly after, in 2017, the project was released to the public. The name Cardano honors Gerolamo Cardano, a physician, mathematician and astrologer who lived during the Renaissance in the 1500s. On the other hand, the name of the Cardano token, the ADA, is given in honor of Ada Lovelace, a mathematician British writer and computer scientist who lived in the 1800.

It has become in recent days the third largest cryptocurrency in the world by market capitalization, reaching close to 40,000 million. And its success does not stop there, since its growth rate is even higher than that of ‘bitcoin’. The price of cardano has soared 2,500% in the last year, including a revaluation of 280% in the month of February. Of course, it is very far from the great rivals of the market, right now you can get an ADA for $ 1.31.

As explained in specialized media such as Coindesk, Cardano is a natural competitor, and perhaps the biggest rival today, of Ethereum. With its own blockchain, this project was launched in 2017 and it was not done by just anyone, but is mainly supported by the trading company Input Output Hong Kong, managed by Charles Hoskinson, co-founder of Ethereum and who is now CEO of IOHK . This has made Cardano one of the most followed projects in recent years, but it is not the only reason, far from it.

The idea of ​​Hoskinson and his team is to improve all the points where Ethereum fails and that has caused many to rethink the use of these tools or the extension of them. Ethereum is usually accused of having very expensive transactions, overly complex processes and a great lack of security both for those who make movements in its system and for regulators, torpedoing scalability. Well, Cardano seeks to improve these processes and even more.

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