What is Cardano cryptocurrency: More information about Cardano,a staking cryptocurrency

What is Cardano cryptocurrency: More information about Cardano,a staking cryptocurrency

By quintomudigo | Crypto Street | 16 Jul 2019


cardano.png  

 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

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;  

https://adascan.net/    

Date Launched

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 .

Founder Of Cardano

 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.

Process of creating cardano

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

Maximum circulation of Cardano

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.

Cardano Price

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.  

Converting my Cardano to other cryptocurrencies

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  

https://www.binance.com/?ref=10776203  

Storing my Cardano

To store your Cardano, you need a Cardano wallet or other supported cryptocurrency wallets.You can use , coinpayment or other supported Cardano wallets. For the safety of your Cardano, you can use offline Cardano wallet like Ledger hardware  wallet  or you can download DAEDALUS WALLET

  Transferring my Cardano to other Users

If you want to transfer your Cardano to another user, the two of you must have trust on each other. The trust should be the Cardano address provided for the receiver while the sender must have the Cardano balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert amount to send to receiver is indicated .Here is how it looks like;  

  CARDANO SENDER REAL.png

  CARDANO SENDER.png  

Knowing more About Cardano

If you feel that you need to learn more about Cardano, then you can follow them on their site. Here is the link redirecting you to Cardano site  

https://www.cardano.org      

Now that you know, i think that it is time for you to start staking some Cardano so that you can earn interest based on proof-of-staking if you feel it is a promising future project for you. If you feel that i should also own some for helping you to know more about this cryptocurrency, here is my Cardano address ;  

DdzFFzCqrhsyby2MAbVPGh6c4tij2Y8oPV2AosVZyVRFxugHDFKutPQfCaJHCwkw1W7XujXC2QE78eqnhrkUFR6j9qVxU3fpngRhjAfV


quintomudigo
quintomudigo

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Teacher Forex School.


Crypto   Street
Crypto Street

Crypto Street provides knowledge related to cryptocurrencies, tokens and blockchain technology. The knowledge consists of different cryptocurrencies with passive income, crypto mining, crypto staking and many more.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.