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We feature the top brokers and exchanges that offer the option to buy Cardano Tokens (ADA) with a credit card or debit card. For larger sums you can also send a wire transfer. We list exchanges and services based on personal experience, and reputation. Please view the risks associated with Cardano Tokens and cryptocurrency trading at the bottom of this page. Also access our affiliate disclaimer.

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What is Cardano (ADA)?

Cardano is a blockchain based network, which utilizes its own native token, ‘ADA’.

Cardano touts itself as the first network of its kind to be ‘peer-reviewed’.  This means that prior to any changes being implemented to the network, a growing global group of respected scientists, from various fields, assess any proposed upgrades.

What does it do?

Through use of its native token, ADA, users gain the ability to transact directly with others.  This means that there is no need for a third-party ‘middleman’.  Rather, users have the ability to transact peer-to-peer.

In time, the Cardano network is scheduled to support a wide variety of decentralized applications.

How does Cardano (ADA) work?

Cardano functions through use of a Proof-of-Stake (PoS) model.  This means that the network does not make use of miners, as seen in networks like Bitcoin.  Instead, any network participant holding ADA –known as stakeholders- in a supported wallet, has the ability to validate transactions.  Rewards for this vary, based upon the size of one’s holdings.

Through use of a unique approach, named Ouroboros, Cardano adds a new layer to PoS.  This is done through stakeholder pools.  For those utilizing this option, holding rights can be pooled with others, allowing for a ‘stake pool manager’ to manage block production.

Projected Developments?

Development of the Cardano network is a multi-stage process, which has only just begun.  Named after famous and influential scientists, philosophers, and more, there are 5 main markers along the Cardano roadmap.  These are,

  1. Byron – This first stage of development surrounds establishing the foundation of the network, preparing it for the growth expected in the coming years.
  2. Shelley – Once a solid foundation is built, this second stage is expected to bring changes, surrounding/increasing decentralization of the network.
  3. Goguen – When sufficient decentralization of the network has occurred, stage 3 will bring the capability for the network to support smart-contracts and dApps.
  4. Basho – The fourth stage of the Cardano roadmap will see developments surrounding the scalability and interoperability of the network.
  5. Voltaire – As the fifth and final stage currently planned, it will concentrate on the implementation of a new governance model. The goal of which is to make the network self-sustaining.  This will be achieved through various upgrades, such as the implementation of, both, a voting and treasury system.

As of July 29, 2020, the Cardano network will officially begin its transition from stage one to stage two.  This stage, known as Shelley, will bring forth new levels of decentralization, by shifting from federated nodes to community run nodes.

Underlying Ideology?

For Cardano, it would appear as though the network is being built to offer much of the same capabilities of rivals, such as Ethereum.  The difference, however, is an emphasis being placed on a few traits.

  • Environmental impact – Many networks have recognized the negative impact that energy intensive protocols, like proof-of-work, can have. By utilizing PoS in the manner that Cardano has chosen, the network requires significantly less power to operate.
  • Openness and transparency – Cardano indicates that as a peer-reviewed blockchain, network participants benefit from more than just a well-built product. They also benefit from new levels of openness and transparency in their operations, and the direction/progression of the network.

Acceptance and Controversies?

To date, Cardano has had minimal levels of both acceptance and controversy.

While the network’s native token, ADA, can be found on many exchanges, this is arguably the biggest adoption seen, thus far.  Until smart-contract capabilities go live on the network, this will most likely remain the case.

To date, the Cardano network has managed to avoid most controversies.  The most commonly noted issue with the network, is the lack of decentralization.  As mentioned before, this is expected to change with the implementation of stage 2 on the Cardano roadmap.

There are a select few that have raised issues with, what they call, ‘plausible assumptions’, made in the Cardano whitepaper.  Essentially, the foundation of the Cardano network was built with various assumptions on how it will adapt to future levels of adoption.  Some are believers, while others are not fully convinced that the network will function as intended.

Regulation?

To date, there have not been any official statements made on Cardano by regulators.  As a result, the project does remain in somewhat of a regulatory ‘limbo’.

Unless an official statement is made, otherwise, there remains a chance that ADA will be viewed as a security.  Those that believe this may be the case, typically provide two points for their argument.

  1. The network is not decentralized at this point.
  2. While restricted to U.S. residents, Cardano was initially funded through an ICO.

Who Made It?

In 2017, Cardano was launched by Charles Hoskinson.  As a co-founder of Ethereum, Hoskinson brought immediate clout and intrigue to the project, and its native token ‘ADA’.

Cardano Tokens Cryptocurrency Trading Risk Disclaimer

There is a very high degree of risk involved in trading securities, and this trading risk is  higher with Cryptocurrencies such as ADA due to markets being decentralized and non-regulated. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency. You should be aware that you may lose a significant portion of your portfolio.

Securities.io is not a registered broker, analyst, or investment advisor.

All information contained herein should be independently verified and confirmed. We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any investment decisions.

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Trading Risk Disclaimer: There is a very high degree of risk involved in trading securities. Trading in any type of financial product including forex, CFDs, stocks, and cryptocurrencies involves a high level of risk.

This risk is  higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.

Securities.io is not a registered broker, analyst, or investment advisor.