Going through this article will give you the answer to the guesiton Is Cardano a good investment ? You Need only 100 Cardano ADA for long terms revealed by Experts.IOHK’s (blockchain engineering company) goal is to make the cardano blockchain and network to be fully decentralized to be developed, maintained and kept secure. This will be the benefit of the community. Each day cardano is waxing an improvement in recognition, which are capable of giving everyone reasons to invest in it. There is a rule 1 in crypto and it emphasizes taking your cryptocurrencies off exchanges to store them yourselves preferably on hardware wallets. But what if your hardware wallet does not support your favorite coin.Cardano users waited patiently before all ledger productions including Nano S added cardano back then cardona was ranked the 10th cryptocurrency by marketcap.
Read Also: ADA price prediction
Why is Cardano a good investment ?
Cardano was added to the ledger only after 1185 other cryptocurrencies got there first. Most of them were ethereum tokens, so easier to integrate. Adding cardona was a tricky decision and it seems like a down to disagreements with the cardona foundation. The ledger integration was initially delayed due to the lack of an agreement between the engineering company IOHK and the Cardano Foundation. When the issues were resolved cardano’s supporters flooded the twitter space with applause laid in gifts and reddit fans posted comments reminiscence of the 2017 bull run and obsessed with cardano soaring to realistic prices.
The ledger wallet is also integrated with Yoroi Light Wallet for Cardano. So users could store their ADA safely on the ledger hardware wallet and then utilize it through the yoroy app. Ledger expanded support for 100 cardonal native tokens. So the users can send receive and transfer these tokens from their ledger live app. As the leading hardware wallet provider it allowed this, while still leveraging on the security of the nano wallet. This time it strives to improve the user experience with a cleaner look with the latest app release version 4.1.2.
The Tokens built on cardano blockchian behave just like ADA and can also benefit from the network’s features. However ada remains the main currency on cardano used for special purposes such as paying transaction fees. In respect to the announcement the newly added tokens include ADAX, DANA, DRIP, FIRE, and CLAP. ledger noted that these tokens were not selected based on their market capitalization but by the number of transactions performed over a given period.
There are more than 5 million tokens in the cardano ecosystem and the network also allows developers to create and distribute native tokens without writing custom codes or expensive smart contracts. The wallet creator hinted that more cardano native tokens will be listed in the future. According to the company 100 native tokens just made their way to ledger live app. There are many more cardano tokens but for now we decide to support these 100 tokens first. The new listing came a month after ledger added full support for cardano, which permitted users to send manage and receive ADA from ledger live on 16th june 2022.
Ledger live is software for managing digital assets on ledger devices. Support for ADA on the ledger live desktop app simply means that you can not only secure your private keys offline as you interact but also manage to send and receive your token. Ledger live interface enables buying ADA tokens directly through ledger’s API partner MoonPay and having them send straight to your ledger. Ledger also tweeted on 15th June 2022 that we finally cardano is available on ledger live.
The ledger academy also published a guide titled what is cardano for beginners, what makes this guide so interesting and enjoyable is the level of praise it has for cardano and ADA token. When cardano was first listed on ledger Eric Larchevèque CEO of Ledger said our integration with cardano is something the Ledger community has been looking forward to. For a lo,ng time we are constantly working to respond to the reach of our customers. So we are thrilled to officially welcome Cardano to the ledger platform offering ADA investors world-class security for their crypto assets.
Cardone is more than just a digital currency, it is the first scalable, sustainable, and interoperable 3rd generation blockchain. It will be capable of running financial applications that are being used every day by individuals organizations and governments across the globe. Since the ledger listed 100 Cardano tokens, so Buying 100 Cardano ADA seems to be a good decision. Also, the popular cryptocurrency hardware provider ledger announced that it has released a new upgrade for the Cardano app to support the latest features of the cardano ecosystem. The update features smart contract functionality attention Cardano users. Version 4.0.0 of the cardano app is now available for download and the ledger is live the app is compatible with Cordano smart contracts.
Despite the market downturn in the past few months, the Cardano ecosystem witnessed huge growth in on-chain activity and transactions. Cardano hit a record of 44.8 million. The blockchain saw a spike in native assets and ADA addresses reached 5.4 million and 3.4 million respectively. The crypto exchange Kraken released a 42-page research report about Cardano. The title described Cardano as a new generation in smart contract platform design. According to the report, Cardano was initially popular among a class of ICO craze-driven projects in 2017 following the network’s launch. While the ico wave battled with being infamous for the number of overpriced assets that ultimately disappeared in the crypto dust.
Cardano found itself in a new subset of ICO warriors that remain persistent. Most importantly Cardano is a value-driven project revolving around community governance and the importance of high assurance programming. So far Cardano’s values have notably led the project’s development and design decisions. As a result, the blockchain looks like it has been configured with the purpose and standards of providing decentralized global and financial infrastructure rather than only concentrating on giving a web experience.
Despite the Ethereum killer tag, Cardano is far more reminiscent of bitcoin. Especially with its consensus protocol and environmental friendliness, it is quite impossible to ignore Cardona’s influence in the crypto world. Cardano implemented smart contract support in 2021 with its Alonzo upgrade. This update was the first iteration of birthing the promised scalability and use cases to its users. This update allowed users to create smart contracts, and non-functional tokens and manage multiple assets.
Final words on ” Is Cardano a good investment “. Further releases and hard forks will bring more smart contracting capabilities to the mainnet. After the completion of the last era on the Cardano roadmap, IOHK desires to release the blockchain and network to the community as it will be fully decentralized and be able to be developed maintained, and kept secure. Charles Hoskinson and the development team of IOHK are working to bring to accomplishment all its witty timelines of updates and plans. This will play a major role in driving the price up but for now 100 Cardano ADA is enough as an investment then watch how it would pay off in the long term.
The Cardano future looking very pumping depends on factors that influence the prices. The answer to the Question “Is Cardano a good investment” is yes but as you know crypto is a very volatile and risky market (one recent example is Luna). So invest a small amount of your savings.