Cardano's Cryptocurrency Could Become the Most Valuable in the Cyber World

The Cardano platform could become the most valuable in the cyber world. Its virtual currency (ADA) even surpasses current market leaders such as Bitcoin and Ether after increasing its value by 1000% during 2021.

to the platform's forum

Depositphotos.com

Last Thursday, August 26, the price of Cardano rose 19%, which surpassed the Binance coin and placed it in third of the most valuable cryptocurrencies in the market, according to Sebastian Sinclair at Coindesk. The currency could rise even higher as a result of its “sustainable” properties.

The currency is advantageous for being “environmentally sustainable”

When Tesla CEO Elon Musk announced that the company would stop accepting Bitcoin payments, more than a quarter of a trillion dollars was wiped from the global cryptocurrency market. However, ADA survived because of its blockchain protocol, which is based on a proof of stake and not of work.

The underlying technology of the platform does not depend on “super” computers to process transactions and generate new ADA units, but rather values the percentage of coins it owns in a miner rather than the processing power it has.

Charles Hoskinson, founder of Cardano, estimated that his network used less power than 0.01% of the Bitcoin network, potentially increasing the energy efficiency of a proof-of-work system like today’s leaders by more than four million. 

ADA could compete with Amazon, Facebook and Netflix

According to the platform’s forum, the potential of Cardano could be compared in the future with companies such as Amazon, Facebook and Netflix: “Cardano aims to become a global financial computer. It is here for all the people who could use a decentralized currency to create decentralized services.”

“What could the price of ADA be in a few years? Cardano could have a similar capitalization to that of the technological giants,” says the platform.

It ranks on par with Baidu and already surpasses Dropbox, McAfee antivirus, Slack and LG Electronics.

At the moment, Cardano has reached a capitalization of $86 billion. While it is still far from the $367 billion that Ether capitalizes or the $893 million from Bitcoin, the blockchain is emerging as the new favorite of experts.

News Related

OTHER NEWS

Inside the mind of NS&I's Agent Million who delivers £1million cheques to the public

Winning the £1million Premium Bonds jackpot is an amazing feeling – but a secretive person has the best job in the world and gets to share that joy every month. ... Read more »

How did Black Friday get its name? The history behind the biggest sales event of the year

Wondering how Black Friday got its name? You’re probably not the only one.  © Sameer Al-Doumy/AFP why is it called black friday name 2021 US UK history facts what mean ... Read more »

Families say DWP's £10 Christmas bonus for struggling households is an 'insult'

The government’s £10 Christmas bonus for disabled people and those on the lowest incomes has been described as an ‘insult’ at a time when millions will struggle to heat their ... Read more »

Monzo launches Flex as it joins the buy now, pay later boom: Customers offered credit limits up to £3k and costs can be spread over a year

© Provided by This Is Money MailOnline logo Millennial favourite Monzo has today launched its own buy now, pay later product called Flex as it looks to profit from the ... Read more »

Virgin Money: 2.02% interest rate & ‘rich package' of benefits - Britons urged to act fast

Virgin Money first launched the packaged current account, Club M, in April, the first of its kind from the provider. It offers a wide range of support for Britons who ... Read more »

Universal Credit, PIP & state pension recipients set for bonus in December 2021

Universal Credit and PIP are benefits which support people in different circumstances. Universal Credit is aimed at helping people who are out of work, unable to work, or on a ... Read more »

'Double whammy' as families face 'large legal costs' & 'unexpected' Inheritance Tax bills

Inheritance Tax (IHT) can be managed through Wills, which ensure assets are passed on to intended beneficiaries and no more tax is paid than necessary. Will creation is usually encouraged ... Read more »

IPO-bound Pine Labs raises $100 million from US investment fund

Mumbai: Pine Labs, which plans to go public in the US next year, said on Thursday that it has raised $100 million from US-based Invesco Developing Markets Fund. The new ... Read more »

Inheritance tax: Covid Wills & care home issues force families into the courts - get ready

Inheritance Tax (IHT) can be managed through Wills, which ensure assets are passed on to intended beneficiaries and no more tax is paid than necessary. Will creation is usually encouraged ... Read more »

Debt fears as Monzo launches £3,000 buy now, pay later loans

Digital bank Monzo has entered the controversial “buy now, pay later” market for the first time, sparking fresh concerns about consumer overspending. © PA a monzo card – PA The ... Read more »

'Should I sell my Premium Bonds and invest £30k in crypto?'

© Provided by The Telegraph Rate my portfolio Finding tomorrow’s winning investments is easier said than done, but Tom Williams, 38, from Brighton, has had a good crack at it.  ... Read more »

Bull of the Day: The Trade Desk (TTD)

The Trade Desk TTD is the $34 billion leader in digital advertising, as an innovative demand-side platform (DSP) outside the “walled gardens” of Google and Facebook.I call them the “CME ... Read more »

Bidgely Secures $26Mn Funding

Bidgely—an artificial intelligence (AI)-powered software-as-a-service (SaaS)company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions—on Thursday announced the closing of a $26 million ... Read more »

Mid-Cap ETFs Looking Good Amid Market Uncertainties

– Zacks Wall Street has surprised with rallies despite rising Delta variant cases. Investors are however on the edge considering certain factors that might impact the current investing environment. Factors ... Read more »

Agritech Startup BharatAgri Raises $6.5 Mn Series A Round Led By Omnivore

Bengaluru-based digital farm advisory startup BharatAgri announced on Thursday that it has raised $6.5 million in a Series A round led by Omnivore, with participation from existing investors India Quotient ... Read more »

eShipz Raises $700,000 Funding Round Led By IAN

eShipz—a Bengaluru-based software-as-a-service (SaaS)-based startup offering shipping automation to SMBs and large enterprises—recently received $700,000 in a funding round led by Indian Angel Network (IAN). The round saw participation from ... Read more »

3 Semiconductor Stocks That Are Restructuring the Supply Chain

The global chip shortage remains one of the biggest stories in the investment community. By now, the reasons for the shortage are well documented. The unanswered question at the moment is when ... Read more »

apna Turns Unicorn; Secures $100 Mn Series C Funding Led By Tiger Global At $1.1 Bn Valuation

Jobs platform and professional network for the rising workforce apna, on Thursday, announced to have secured about $100 million in Series C funding led by Tiger Global. The round also ... Read more »

Ayu Health Raises $6.3 Mn Series AFrom Vertex Ventures And Stellaris Venture Partners

Ayu Health—a healthtech startup with a network of hospitals providing high-quality, affordable healthcare—on Thursday announced that it has raised $6.3 million in Series A financing from Vertex Ventures and Stellaris ... Read more »

D2C Online Brand Flatheads Raises $1 Mn Pre-Series A From We Founder Circle, Dexter Angels And Others

Bengaluru-based direct-to-consumer (D2C) online brand Flatheads, on Thursday, announced that it raised $1 million in pre-Series A round from We Founder Circle (WFC), Dexter Angels, and others. The funding round ... Read more »

Small Building Supply Companies Notch Big Gains Amid Construction Boom

TopBuild Corp (NYSE: BLD) is among the leaders in the building supply industry, as demand from new construction and remodeling projects remains strong. Depositphotos.com contributor/Depositphotos.com – MarketBeat TopBuild broke out ... Read more »

3 Stocks to Buy on Recent or Expected Dividend Hikes

Dividend stocks should hold a place in every investor’s portfolio. Even if you don’t intend to use the dividend payout as regular income, the ability to reinvest dividends is like ... Read more »

IppoPay Raises Pre-Seed Funding From Better Capital And Others

‘Brex for Bharat’ startup IppoPay on Thursday announced to have raised an undisclosed amount of pre-Seed funding from an early-stage investor, Better Capital, along with Prabhu Rangarajan, co-founder, M2P, and ... Read more »

6 Retirement-Ready Mistakes 60-Year-Olds Commonly Make

Heading into job sunset soon? Whether you’ve been planning your exit from the workforce for decades or decided on a whim that you’d be ready to rush toward the door ... Read more »

FedEx (FDX) to Report Q1 Earnings: What's in the Offing?

FedEx Corporation FDX is set to release first-quarter fiscal 2022 (ended Aug 31, 2021) results on Sep 21, after market close. – Zacks The Zacks Consensus Estimate for earnings in ... Read more »

Funeral firms now have legal duty to present clear pricing

Funeral firms must be upfront with grieving families about their prices from Thursday following an investigation into the sector by the competition watchdog. © PA Wire A funeral taking place ... Read more »

OK Savings Bank's ‘Pak Se-ri tournament' to kick-off Friday

Golfer Pak Se-ri is featured on a promotional poster for this year’s KLPGA’s OK Savings Bank Pak Se-ri Invitational scheduled to be held in Cheongju from Friday to Sunday. (OK ... Read more »

How the E-learning Industry Is Evolving Thanks To Blockchain Technology

The Studyum community has been mushrooming all over the industries. An edtech platform on the blockchain, Studyum is a unique blend of technology and systematic instruction. With the number of ... Read more »

Apple Watch Series 7 come with a 20% larger screen

This Tuesday, September 14, Apple held an event where it presented its line of products for the end of the year. Apple Among the most prominent launches was the Apple ... Read more »

Steve Wozniak, Co-Founder of Apple, Announces His Own Aerospace Company With Enigmatic Video

Apple co-founder Steve Wozniak has just announced his new project: the creation of his own aerospace company called Privateer Space. Although he did not clearly spell out his goals, there is ... Read more »

How NFTs Could Change Real Estate

The world of property is changing fast, and it is important to stay up to date on all the innovations in the space. The blockchain and cryptocurrency realm is slowly changing the ... Read more »

SEC Chairman Lays Out Crypto Market Agenda in Senate Testimony

U.S. SEC Chairman Gary Gensler spoke to a Senate Committee about the U.S. markets and listed several areas of focus with respect to the crypto markets. – be[IN]crypto United States ... Read more »

What is Google Page Experience, and Why Does it Matter?

Have you heard of Google Page Experience? If you haven’t, and you prioritize search engine optimization (SEO) as a strategy to support your business, you’re behind the times. Google’s Page ... Read more »

The Case for Transparent AI

I can’t go on Facebook without seeing magicians. I can trace it back to when I watched a video of America’s Got Talent. It started with singers, but soon it ... Read more »

Fidelity Makes Case for Bitcoin ETF With SEC

In a recent presentation for the Securities and Exchange Commission (SEC), Fidelity Investments argued the merits of approving its Bitcoin exchange-traded fund (ETF). – be[IN]crypto According to filings from the ... Read more »

How to recognize a fraud of an app that lends money?

They will say that it is clickbait but it is real: Currently there is a type of credit (called liquidity), offered by the internet and applications downloaded to the cell ... Read more »

This biohacker is the real-life 'Nebula': she has more than 50 chips in her body and identifies as a cyborg

If you are a fan of the Marvel universe, you surely know Nebula , Gamora’s blue sister, both adoptive daughters of Thanos. The rival of The Avengers made a series ... Read more »

Windows 11 will not be compatible with Apple's new M1 chip, Microsoft confirms

In the framework of the Apple Event , Microsoft confirmed that Apple’s M1 chip “is not a compatible scenario” for Windows 11 , as reported by The Register . Mia ... Read more »

Learn How Machine Learning Can Help Your Business

The business world is changing all of the time and smart entrepreneurs are always looking for a way to gain an advantage over the competition. One area you may not ... Read more »