Coinbase Pro, a leading digital asset exchange platform, have added a new altcoin to their list of tradable cryptocurrencies. This altcoin is called ADA, and was created by Cardano, a cryptocurrency network that works to operate a public blockchain service with a focus on smart contracts.
Although Cardano began development of its internal ADA cryptocurrency in 2015, it has only hit the crypto-scene recently, and with welcome acceptance and prosperous predictions for the future.
Why buy Cardano?
With Bitcoin prices in the upward realm of $58,000 in March 2021, and ADA valued at $1.18 per coin, what is the Cardano hype about? Cardano has experienced a strengthening of its value, and this reality presents ADA developers with the opportunity to compete with the two most dominant cryptocurrencies, Ethereum and Bitcoin. Cardano currently sits as the 5th largest cryptocurrency in the world.
Cardano’s ADA is one of the most technologically superior cryptocurrencies on the market today. It’s Ouroboros proof of stake system has the capabilities to authenticate transactions without the use of the expensive proof of work system that Bitcoin and Ethereum use.
The lightning fast speed at which the ADA coin operates makes it possible for Cardano to process around 1 million transactions a second. Cardano is the third generation of blockchain and was built by a highly experienced team of developers which includes its founder, Charles Hoskinson, who was a co-founder of Ethereum. With this, it has surpassed all the problems experienced with Bitcoin and Ethereum and offers scalability, information sharing, and sustainability, making it a more stable and user-friendly network to engage.
Cardano’s market cap is over $37 billion and this increases steadily each day. Analysts pinpoint that this is the cryptocurrency to watch, and to invest in while the price is still at a reasonable low.
Further, with its impending launch of the Goguen Mainnet, a smart contract system, Cardano is set to blow up the NFT world which Etherum’s ERC-20 tokens reigned supreme.
Cardano reaches crypto casinos
We are seeing an influx of crypto casinos take to Cardano’s ADA cryptocurrency as a means of payment to the sites. 1xBit has put ADA on the list of supported altcoins, and so has True Flip where ADA games are available to play. Other Cardano casinos are Bitcoin Casino, Fortune Jack, Betcoin, and Crypto Games.
There are massive benefits when gambling at a crypto casino, and the most prominent is that with cryptocurrency transactions, and the eradication of fiat transactions, players are not accountable for paying government taxes on their casino wins. Other advantages are the immediate processing of payments when depositing or withdrawing funds with crypto casinos.
Developers know their cryptocurrency is something to watch when it becomes an official payment method for casinos, airlines, hotels, and restaurants, which Cardano is for select companies. If ADA continues to see its value strengthen, that this cryptocurrency will likely stand up next to its crypto hard-hitters and rise on the popularity scale – which it is not far from at a reputable Top 5 member.