Did you know that cardano is one of the most revolutionary cryptocurrencies on
the market today in fact that's probably why you clicked on this video this
virtual currency has fantastic technology representing sustainable and
secure blockchain with groundbreaking applications in this video we'll be
talking about cardano it's history where to buy it and more and if you're new to
the channel then hit the subscribe button below for more life-changing
content so what really is cardano all about cardano is a third-generation
distributed proof of stake or pos platform with the potential of being
more efficient than proof of work or pow networks like ethereum over the years
we've seen that the scalability sustainability and interoperability of
pow networks are limited the limits are a result of rising costs slow event
times and energy consumption the cardona blockchain platform runs on the oroboros
consensus protocol the oroboros was cardonos creation during its founding
phase it is the first pos protocol that's proven to be safe and the first
capable of accessing information from scientific academic research there are
five stages aka five eras of cardano's growth and it's all anchored in a
research-based framework that includes peer-reviewed insights this uses
evidence-based methods to achieve future milestones of the applications now just
in case all that sounds confusing you can consider codano as an alternative to
ethereum or even an upgrade to ethereum both platforms work for similar
applications ie smart contracts they also both aim to build a unified and
decentralized system but will both appear to do the same things cardona has
been anointed as a ruling third generation platform over ethereum's
second generation credentials cardano is also working towards providing banking
services to the world this crypto's main applications are traceability and
identity management the previous application can be used to simplify and
streamline processes that require data collection from multiple sources the
latter version can be used to audit and monitor production processes from start
to finish and possibly eliminate counterfeit products in the market with
all these functions you can see how helpful cardano can be which is why its
value has continued to rise but then how did it all start the development of this
crypto began in 2015 but was launched in 2017 by charles hoskinson who happens to
be one of ethereum's founders after some controversy in ethereum hoskinson live
we gathered that he wanted to accept venture capital and create a for-profit
entity while reuteran the other founder wanted to continue his operations as a
non-profit organization so he left and soon co-founded iohk a blockchain design
company whose primary business is cardino's development the platform is
named after gerald cardano while the digital currency is named after ada
lovelace i know you're probably wondering who are these people well
geraldomo cardano was an italian with many interests including mathematics
gambling and writing while aydah lovelace was an english countess who
also worked as a writer and mathematician these two were very
inspirational to the man behind cardano hence the immortalization guardano's
birth was funded through its crowd sale and the token debuted with a market
value of 600 million dollars this was amazing but it wasn't enough and by the
end of 2017 cardona's market value was 10 billion dollars in fact you'd
probably be interested to know that cardano actually reached 33 billion
dollars at one point in 2018 before the general follow the crypto market which
took its value back to 10 billion dollars when charles was working on iohk
the platform collaborated with universities in blockchain research in
2017 the platform helped edinburgh university launch the blockchain
technology laboratory in 2020 iohk made a donation worth 500 000 in ada to the
university of wyoming to support blockchain development in 2018 they also
formed a partnership with the ethiopian government to deploy their technology in
several industries across the country the partnership's progress has been so
far incredible and in april of 2021 the ethiopian ministry of education declares
its plans to launch an archiving and identity system in cardano among the
numerous partnerships formed includes one he had with electronic dance music
dj paul oakenfeld this time they plan to release a full-length album on the
cardano blockchain which will be called zombie lobster to track the progress
occurred on his protocol ecosystem the task was decentralized and the
responsibilities were shared between its partners were the cardano foundation
e-m-u-r-g-o and the iohk the cardano foundation as a
not-for-profit company promotes the visibility of the protocol on the global
stage it also cultivates its uses connecting with regulators policymakers
and the scientific community as a whole emurgo is responsible for the promotion
and successful commercial adoption the cardona protocol it is tasked with
integrating companies from diverse industries into the blockchain system
then as i said earlier the iohk was charles's brainchild for the creation of
cardano remember i also said earlier that kareno passed through five phases
in its formulation now each of the stages was named after an influential
person and this simply serves to keep things interesting so what are the five
eras there is a foundation aka the byron era decentralization aka the shelly era
smart contracts aka the gogen time the scaling period otherwise known as the
bastion era and lastly the administrative or the voltaire era now
that we know how this cryptocurrency started and all it's time to look at how
it's being used so sit tight as we dive into that right now firstly cardono has
released three products namely adela trace adolescan and adela prism the
final product will serve as an identity management tool providing access to
services services will include opening a bank account and checking your
eligibility for state aid the first two are to track the journey of the product
through its supply chain also this platform is working to develop an
intelligent contract service that's secure and stable for the development of
enterprise class applications by enterprise class applications i'm
referring to apps that are built to be scalable and upgradeable in all this
it's vital to know that at the heart of any blockchain platform is its algorithm
which is used to validate events and create blocks as you may have guessed
cardona makes use of the orbose algorithm to extract blocks the robust
protocol was developed to be able to reduce energy consumption during the
process of production to a minimum how does it do all this well this is
accomplished once the need for extensive computational resources and hash power
have both been eliminated and that is the problem with blockchain platforms
like bitcoin and ethereum that run on proof of work algorithms with the new
proof of stake system from cardano these problems are eliminated you can now
probably see why cardano aka ada is going strong and will continue to do so
until a better system comes around the crypto experience almost a 100 price
increase within seven days in february of 2021. speaking of someone developing
a better service than that of cardano charles built the platform in an open
source format that means that anyone can develop the currency further just like
ethereum all these qualities lead to one thing investors love cardano and it
continues to grow in popularity especially among crypto investors
looking for long-term potential so if you're psyched up to invest in this
virtual money here is how you can start your cardano journey the first move
concerns finding an exchange that offers the coin and seeing that cardano is one
of the largest coins out there a lot of exchange is provided some of the
platforms offering cardano include sofi etoro kraken binance and coinbase of
course you want to make sure that you go for the exchange with the best security
and reasonable fees and with proper research you'll find that the exchanges
i just mentioned are some of the best there is however most beginners prefer
to go with coinbase as it's arguably the most user-friendly platform the next
thing in your quest to own some cardona would be to sign up for your exchange of
choice you need an account before you can be able to buy any crypto on the
platform and most of the time the registration process is very easy some
of the details they generally request include full name email and telephone
number once you've provided the necessary details and own an account on
the platform it's time to ensure maximum security most exchanges mandate the
completion of a two-step authentication process this feature requires you to go
through two levels of security while logging into your account don't worry
the whole point is for the security of your fund so it's in your best interest
to comply the next step in this process is to provide identity confirmation this
process generally requires provision of personal details such as your date of
birth social security number physical address any scanned valid means of
identification like a passport after that you have your account ready to buy
store and even trade cardano so if you're an investor it's time to plan
your investment strategy as most finance consultants will say the best strategy
for crypto investments is to approach it as you would a long-term investment if
this applies to you then what will your strategy be think about how often you
plan on buying more of this coin do you intend to make one big purchase and then
wait to see how things unfold or do you plan to buy regularly like bi-weekly or
monthly further questions that you need to answer include how much do you plan
to invest in it remember that this should be decided upon considering your
risk tolerance another thing to consider when choosing is how often you plan to
buy digital money for instance if you plan to purchase cardona often then it's
likely that you don't need to purchase large quantities for the first time it's
also pertinent that you consider when you're gonna sell your currency you can
choose any time frame that appeals to your plans some people prefer to hold
cardano for a minimum of five years while others decide based on their price
targets or a combination of price targets and time frame so let's assume
that you've decided on your investment strategy then it's time to buy your
beloved card on a coin so now you should check the payment methods offered by
your cryptocurrency exchange and also look out for transactional fees some
quite common payment methods include ach bank transfer debit or credit bank cards
and paypal most top exchanges will you deposit cash directly from your bank for
free but there are a few that charge for this there's still transaction fees to
be paid when purchasing the crypto but it ultimately costs less when compared
to other payment methods generally buying cardano through debit or credit
or paypal is expensive but then they are fast methods compared to the bank
transfer process which may take some business days once there's money in your
account all you have to do is select the amount of money you want to pay for
cardano the exchange will reveal a preview of the transaction to you
complete with payment fees and the amount of card down it will cost if the
preview is okay with you then all there's left to do is to confirm your
purchase once that's completed you should see your cardano currency in your
account within seconds it's advisable to consider transferring your coins into a
crypto wallet this is because cryptocurrency wallets possess more
security and are popular among investors for coin protection so for those
interested in purchasing these virtual currencies you can do so from today's
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