In this video we will get into my Cardano ADA Price Prediction for 2021. Can the Price of #Cardano really sky rocket to $10 per ADA coin or more?
Will the upcoming Cardano Main Net launch catapult the #ADA coin to a 20X return in a matter of months.
I’m gonna tell you everything that you need to know about Cardano.
And who knows, I may even give away some Free ADA.
We will compare Cardano with other Blockchains.
Cardano vs Ethereum
Cardano vs Polkadot
Cardano vs Ethereum vs Polkadot
What is the Best Crypto?
Cardano was started back in 2015 by Jeremy Wood and Charles Hoskinson, along with the Cardano Foundation. Charles Hoskinson was one of the co-founders of Ethereum, along with Vitalik and Gavin Wood.
The Cardano network is named after the Italian Mathematician, Girolamo Cardano. Girolamo was born in Italy in 1501, and is best known for giving us the First Systematic Computations of Probabilities.
The native coin of the Cardano network is called ADA (or A-D-A), and ADA gets its name from Ada Lovelace. Lovelace, was the daughter of Lord Byron back in the day, and Lord Byron is widely regarded as the world’s first computer programmer.
Cardano claims to be the 3rd Generation of cryptocurrency.
With Bitcoin being 1st Generation and Ethereum 1.0 being 2nd Generation.
Cardano differs in design because their platform is divided into 2 layers.
The First layer is a settlement layer that is responsible for handling financial transactions. The Second layer is the computing layer, and its main responsibility is to handle the computing of smart contracts.
This 2 layer approach is designed to improve network efficiency, and increase transaction throughput.
Cardano uses a proprietary proof of stake consensus algorithm known as Ouroboros to validate transactions on the network. The way it works is, the network is divided into Epochs, and these Epochs measure time on the network.
You can think of an Epoch as a block of time on your calendar. Epochs are then further divided into Slots which are smaller periods of time within an epoch. A slot is really quick though, and generally only lasts for about 15-20 seconds. Each slot has one Slot Leader, the slot leader is the node chosen to validate transactions for a specified slot. If you're selected as a slot leader, this means that you validate the transactions of the given slot, and can create 1 block containing all the transactions for the slot you have been chosen to verify.
Slot leaders are elected by those who hold and are staking their ADA coins. In order to take part in choosing who the next slot leader will be, you have to have a certain stake in the network. If you meet the minimum stake required, you are considered an Elector for the next Epoch and can vote for the Slot Leaders that you want.
And this is really the main concept of importance when it comes to Proof of Stake. In order to prevent against malicious actors on the network. The network is governed by those who have stake in the value of the token, thus they are inherently incentivize to preserve the network and the value of the token.
Cardano’s Ouroboros algorithm, like many others, uses some form of Proof of Stake to help alleviate network scalability issues. Cardano has the ability to increase the number of slots per epoch to increase network throughput capacity. The system is also capable of running multiple epochs in parallel to improve efficiency.
With that being said their functionalities are release sequentially as part of a phased rollout. The Cardano roadmap is organized into five eras: Byron, Shelley, Goguen, Basho, and Voltaire. Each era comes with new additions and capabilities for the network.
And Goguen offers real significant advancements in the capabilities of Cardano. With it comes the ability to build decentralized applications and a whole host of other features, including a multi-asset ledger.
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