What is Cardano Coin?

Cardono is one of the most prominent projects in the crypto money market, Crypto money, which started to be traded at around $ 0.02 at the beginning of October and entered the crypto market, broke all records with $ 0.58 on December 19 with a big upsurge. As soon as we get to know Cardano, which is the sixth biggest crypto money in terms of market share ..

One of the most prominent features of Cardano, which is an abbreviation ADA, is the use of the Proof of Stake algorithm, given the name Ouroboros in its infrastructure.

Many currencies, including bitcoin, use the Proof of Work algorithm. As the block won the first boiler miner prize in the PoW algorithm, the miners compete against each other and a lot of electricity is consumed in this process. It is thought to be one of the biggest problems for bitcoin in the coming years.

In the PoS algorithm, it is stated that PoS is very cheap and efficient in terms of electric energy, since prizes are distributed according to certain rules. It is known that Ethereum will also switch to this algorithm with the approaching hard fork.

Cardano's protocol consists of two layers: the payment and control layer. While there is relevant information in the payment tier for accounts, the control tier processes information related to identity, compliance, and blacklist functionality.

Cardano also has a debit card and a special wallet named Daedalus. Money can be sent from the Daedalus wallet and the money in the card is automatically converted into the user's local currency.

Cardano, meanwhile, has begun to work for the ADA in Japan to trade at many ATMs.