Cheeze, Inc., which allows you to convert photos into NFTs and sell them on the blockchain. Simon Hudson, founder and CEO of , talked about the world of cryptocurrency. First, he mentioned Cardano (ADA), the fifth largest altcoin, not Bitcoin, which is the largest cryptocurrency by market value.
Cardano and its benefits to the ecosystem
Cardano was started in 2014 by two former co-founders of Ethereum, Charles Hoskinson and Jerry Wood. The platform was first named after 19th century mathematician Ada Lovelace and launched in September 2017 with a cryptocurrency called ADA. The name of the Cardano project comes from the Italian scientist Gerolamo Cardano.
Cardano is a segment of a third generation blockchain technology. Third-generation blockchains attempt to address the interoperability and scalability problems that plagued previous generations. Cardano, like Ethereum, allows the execution of contracts and decentralized applications (dApps), which allow extremely powerful developers to build artifacts and solutions on blockchains. In the middle of these are NFTs, which have grown in popularity in the last six months.
One of Cardano’s biggest advantages over many is that it uses proof of work (PoW) instead of proof of stake (PoS) to validate processes on the blockchain. This means that it is much faster and does not charge high gas prices as in the Ethereum network.
Comments on the well-known altcoin Cardano from Simon Hudson: I have great faith!
Simon Hudson, in an interview, said, “I have great faith in Cardano. The group behind the project is addressing many of the issues faced by strongly congested blockchains. Interoperability and low gas prices are highly attractive to developers. I think we will see very exciting developments with Cardano in the next 12 months.”
According to information, ADA is changing hands at the time of writing, with an increase of 1.8 percent, at the level of $ 1.35. The cryptocurrency has lost 4.5 percent in the last 7 days.