Cardano (ADA) has been in the news lately for different reasons and it has caused a stir among crypto enthusiasts who want to know more about this digital currency. Investors are considering it and many believe that it could be the next best thing in the crypto world. The potential of this currency are many, let us see why.
Its Use Of Technology
One top reason why this cryptocurrency is more popular is its use of top-notch technology. It particularly revolves around the smart contract platform. It uses a proof of stake algorithm known as Ouroboros and it is considered as one of the best and newest editions. It appears that the developers of Cardano are confident about the algorithm and also believe that it will stand the test of time and handle any threat that comes in future to the Blockchain.
The algorithm does not only defend it, but it allows the creation of side chains. This means that the privacy and security of users will be guaranteed. It is true that the attacks aren’t the only threats to digital currencies, systems could suffer from different bugs, and this can cause serious losses to investors. But it is a start.
The digital currency has covered the problem properly with Haskell. This language was built with the platform. It adds some mathematical approach to code writing. Technically, the codes are more precise and it eliminates the danger of serious and bigger bugs that the other cryptos might bring. Many ADA supporters like this feature a lot and they are beginning to prefer it to Ethereum.
Good use of wallets
The cryptocurrency has its own wallet know as Treasury and this solves the sustainability problem. It stores bits of the transaction in the wallet and funds are used in financing new development plans and new projects.