Any Alt coin investment needs to be backed by sound knowledge of your chosen coin.
By that I mean you need to know:
- why it exists at all
- what it hopes to accomplish
- its blockchain technology - applications/decentralised/uptake rate by users
You also need to have confidence in the security of the coin itself, and you can only get this through investigation and seeing:
- Proof of stake
- Proof of work
Cardano ticks those boxes, and more.
In fact I have not even touched on so much more about ADA that is positive.
The current Shelley test-net work is an invitation to people to join with the technical management team to shake the block chain to see if there are any loose nuts and bolts, and so much more.
There is a new “Roadmap” since May 2019, as well as a concerted effort to try to hack ADA in any area, and people are being invited to try to do this, to prove up the security of the instrument.
Cardano technology is Open Source.
That means that the software in use and currently being developed and added, is NOT copyrighted or patented - it’s what it says on the tin - ‘open source.’ It’s free and can be copied by other Alt coins.
Today I was pleased to receive this Video (65 minutes), made by Charles Hoskinson after he arrived home in Colorado after many weeks ‘on the road’ promoting ADA, and addressing interest-groups and governments all over the world. This is paying off. Currently the Government of Ethiopia has signed a MOU to use ADA Blockchain tech in its Agricultural industries.
This about that.
Can you understand what that means for the poor farmers in that country? They will (many for the first time) get paid a fair price for their produce, and pay a fair price for seed, cattle and other stock, machinery and on and on.
That doesn’t just give them a decent income for their labour, it raises their standard of living and allows their children to be educated and eventually take their place in the world.
Mongolia also is in discussions with ADA to use this technology.
It’s like an acorn seed - the seed is germinating and will soon be a young, sturdy plant.
When its roots are established, which is about where we are at today, the tree will thrive.
In the light of this, compare what it going on with other alt-coins.
What can you say about them to compare with the strong contribution ADA is making, planning and developing?
BTC is what it is - I don’t intend to knock it.
But I add the disclaimer that I do not hold it, have never held it and have no plans to become involved with it in the foreseeable future.
I see no correlation whatsoever between the two (ADA/BTC) other than that BTC is the acknowledged father of crypto coin tech. ADA is so far removed from BTC now, that I don’t know why I am even adding this to the discussion.
The philosophy of Cardano is that it is an Open Platform, a Financial Operating System, with a plan to be what a Crypto currency should be for the developing world.
If you are into Cardano, I would be happy to post links to videos for you, and other links to discussion between Charles Hoskinson and others who know, unlike me, much more about this alt-coin.
I am a small volume holder of ADA, with a plan to add to that holding as able. Topday’s enabling price, as I type, is AUD$0.1130
Enjoy this: YouTube