Check Today's Crypto Market:
Bittime – Despite criticisms such as “Cardano is dead,” Hoskinson emphasized the healthy ecosystem of this network as proven by on-chain metrics. Hoskinson emphasized that updates and improvements, although questioned by some, are part of the planned development process.
Also Read Cardano ADA Crypto 2024 Review: A Brief Understanding
What is Cardano(ADA)?
Cardano is a blockchain platform designed to be more scalable, secure, and sustainable than other platforms. The platform uses a proof-of-stake (PoS) consensus called Ouroboros, which is claimed to be more energy efficient than the proof-of-work (PoW) consensus mechanism used by Bitcoin.
Cardano has a native crypto asset called ADA, which is used to pay transaction fees and to participate in platform governance.
Future Improvement Focus
1. Plutus V3
This update, currently on Node 88, aims to improve the entire Cardano network. The network is preparing to hardfork to implement it along with a new governance model (CIP 1694).
2. CIP 1694
It introduces a three-principle governance structure. It includes voting for democratic agreements, institutions for complex concepts, and aims to be the most decentralized governing body in the world.
Cardano Development Plan
Cardano plans a multi-model approach to scaling, investing in both Hydra and Plutus V3.
Changing the consensus model for Solana-like speed is interesting, but maintaining Cardano's core principles and achieving efficient decentralization remains important.
Also Read How To Buy Crypto:
Market Response
ADA price has shown a positive reaction to this development, with hourly and daily gains exceeding 15% at the time of this writing.
Market capitalization also increased, pushing the price to $0.68. Trading volume and weekly/monthly increases are also trending upwards.
Current Cardano Price
According to Market Bittime at the time this article was written (01/03/20240, Cardano (ADA) Price was at $0.6884 and experienced a decline of -2.50% in the last 24 hours
Key Point for Cardano
Responding to the market, Hoskinson's interview marked an important point for Cardano. The successful implementation of planned reforms and the achievement of goals set in governance and scaling will be key to maintaining investor confidence and attracting wider adoption.
Challenges faced
However, challenges remain. Cardano faces fierce competition from established and emerging blockchain projects. Additionally, criticism regarding the speed of development and ability to deliver on its promises is likely to persist. A network's ability to navigate these challenges and realize its vision will ultimately determine its long-term success.
Check Crypto Prices Today:
Closing
Therefore, while the current outlook for Cardano appears promising, close monitoring of the network's progress and the overall market landscape is critical for making informed investment decisions.
How to Buy Cardano (ADA) on Bittime
You can buy and sell Portal (ADA) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Cardano (ADA) is available on Bittime with the ADA/IDR market pair . To be able to buy ADA IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Cardano (ADA) on Bittime .
Monitor the price chart movements of Portal (ADA), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Read Also
Narrative of the Most Popular Crypto Gaming Chain Today
Staking Polygon: A Safe Way to Double Your Assets to Get Passive Income (2024)
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.