Cardano (ADA) News Updates – Cardano ADA, a cryptocurrency launched in September 2017 continues to attract investors in a bullish market. The coin has a market cap of $18 billion planting the coin in the top 10 cryptocurrencies. The currency uses the open source technology, and they based on the peer to peer procedure.
Cardano and Ethiopia Agriculture Partnership
The cryptocurrency is entering an agricultural venture in Ethiopia. The CEO, Charles Hoskinson, signed a Memorandum of Understanding with the Ethiopian Ministry of Education. The company will train blockchain developers to use the coin in agriculture. The company intends to teach the first batch this year and have them working with the Cardano code by the end of the year. The first batch will possibly come from Ethiopia.
Cardano Partnerships; the potential benefits of these partnerships
Cardano is similar to Ethereum. However, Cardano is much younger than good old Ethereum. As at January this year, Cardano had not launched any token. The first token to launch on the platform is Traxia (TMT). Traxia will use the blockchain to fix the $43 trillion market full of unpaid invoices. The platform is cheaper and faster compared to the existing centralized invoice selling markets.
One good thing is that users get paid in fiat currency, and that assures users of the volatility of this coin. Well-known investors; Emurgo and SOSV backs Traxia. Sp8de also took advantage of Cardano’s decentralized platform to sell its tokens.
There is also the partnership with SIRIN Labs. Sirin labs focus on security for smartphones. The announcement about the two firms forming a partnership talks about the integration of Cardano into mobile devices. The partnership involves Emurgo as well, and Sirin is focusing on working with Emurgo to implement Cardano protocol into Sirin operating system.
Sirin lab is developing devices, FINNEY, these devices will operate on the Sirin operating system, and they will make interactions between tokens and coins supported by the wallet easier.
Reasons Why Cardano (ADA) is Worth Your Investment
There are lots of reasons why Cardano is still the real deal even though the coin is not announcing a ‘big’ partnership soon. One of these is the Daedalus wallet. This wallet really adds value to the currency. The portfolio allows users to make payments, store ADA, and also claim rewards from ADA. The Cardano team is also not relentless in making the coin convenient to use. The team is developing Android and IOS apps that can host community developed dApps. There are also plans enable the Daedalus wallet to support Ethereum and Bitcoin.
Another winning point about Cardano is that the coin does not need to hold an ICO to raise funds for development. The coin has a wallet called Treasury. Treasury does not belong to an individual, and the purse is already saving funds; a little portion of every transaction gets deposited in Treasury. The deposits mean developers can have funds readily available for developments. In cases where there are many options, users can vote on the development they would like to push, and then the modification will proceed with the funds available in Treasury.
Talking of developments, Cardano is unique in that respect. Modifications are not limited to the team of developers. Every ADA holder has the right to suggest a change. The process is simple, when a holder suggests a modification, the rest of the community will vote on it and it the change receives an acceptable number of upvotes, the team will take it up. They would first announce the modification and then proceed to work on it. In this case, everyone has played a role in the modification process.
Why Cardano (ADA) Deserves Its Spot In The Top Ten Cryptocurrencies
Cardano is also doing well on the Chinese market. The Houbi, a Chinese platform listed the coin in February. The fact that the currency is now on an international platform indicates lots of potential for the coin.
Cardano has performed well since its launching in September 2017. The coin has held a spot in the top ten cryptocurrencies throughout April. The currency’s growth has slowed down, but the rise is still steady. We could attribute the reason for the success of the coin to the brain behind the coin. A team of academics and scientists developed the currency. Charles Hoskinson was a co-founding member of Ethereum, and that gives him significant experience in developing a cryptocurrency. Even though the two coins are entirely different, the experience is essential.
The other team members can also boast of significant personal experience that has played an essential role in the development of Cardano. The approach of this coin is unique; the currency uses the bottom-up approach, unlike the other coins. The coin is also proactive and not reactive.
The price Cardano has fallen by 5.65%, but there is hope that another price hike will occur soon. Within the 24-hour period, the currency started trading $0.367 and ended at a price of $0.324613. The average price of Cardano is $0.3378, and the fluid supply is 25.9 billion coins. The market cap is $8.5 billion.
Even though this currency is less than a year old, it has made significant progress; the coin reached the sixth position before falling to the seventh position. The currency has maintained the seventh position for some time now. The currency holds a lot of potentials and that can be seen in the way the coin recovered after the blow suffered by the cryptocurrency market.
Final Thoughts on Cardano
If you are thinking of investing in the cryptocurrency, we have made all the information available. One thing that is certain is that Cardano is growing steadily and the coin has performed well for currency founded in less than a year. Crypto enthusiasts are optimistic about the price of the coin; they expect that the price of the coin would surge in May. There are lots of reasons why you should invest in this cryptocurrency, and in the same vein, there are also reasons why you may think investing in this coin is not worth it. In all, the choice is yours.