What are the concepts that we deal with different approaches in the crypto money sector? In this category we will answer the question "What is Cardano?" with a simple explanation.
What is Cardano, thanks to the large volume it has reached recently and the technology it uses? The crypto currency that brings the question to the agenda is using the ADA icon on the lists. Cardano, which was started to be developed in 2015, started trading on the stock exchanges on October 1, 2017 and the first stock market exit value is $ 0.02. Deadalus uses an open source code wallet, which allows users to store their coins more securely.
How is Cardano coin produced?
Cardano uses a POS (Proof of Stake) algorithm instead of the Proof of Work algorithm, which is used by many crypto paranoids, including Bitcoin. The cost of electricity is very high since it takes a serious race to get the prize of the first miner who gets the block during mining with the POW algorithm. Particularly in Bitcoin mining, electricity consumption, which is the most criticized issue, becomes out of line as the degree of difficulty increases.
In the POS algorithm, the situation is slightly different, and the mining awards are fairly distributed according to the power of the miners using the hash. Thanks to this algorithm, electricity consumption is much lower than that of POW.
Cardano, which has about 26 billion circulation, can produce 45 billion in total. The high number of pieces in circulation makes it possible to have a high market volume at the same time.
Alternative to Ethereum
Cardano is showing competitors or alternatives to Ethereum through improved smart contracts. An important feature of the Cardano team is the presence of Charles Hoskinson, former CEO of Ethereum.
How to get Cardano coin?
TL in Turkey directly with the ADA does not yet have a stock market where you can buy coins. For this reason, the method of retrieval of other crypto money not listed in our country is also valid for Cardano. Cardano Coin has the biggest volume among the listed stock exchanges, Binance and Bittrex stock market.
For beginners: Get Bitcoin or Ethereum from a Turkish stock market. You can get help from Linkten. Then open an account from Binance, open your account in the Funds / Deposit section and choose Ethereum or Bitcoin, whichever you have, and send it to Binance. You can now use the ETH or BTC to get Cardano or ADA coin from the exchange tab.
