Cardano hits $1.00, and it’s only the third day of 2018

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Last night Cardano did what many were expecting, just a lot earlier than expected as it pushed up to $1.00, a price point that most analysts had pegged for happening later in 2018.

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Given that Cardano was sitting at around $0.50 a week ago this is a serious run that puts ADA (the cryptocurrency associated with Cardano) in the spotlight and as a real contender for the number four spot as it continues to gain on Bitcoin Cash.

Just in case you’re not fully versed on all your alt coins yet, here’s a quick primer on Cardano from our awesome buddies over at Reddit:

“Cardano is a security focused blockchain that harnesses the latest research and engineering insights to build a platform suitable for the highest value applications.

Built on a foundation of peer-reviewed research created through partnerships with the world’s foremost universities, Cardano aims to create a platform for decentralised applications and smart contracts that can be processed with a technique called formal verification.

This allows logical proof of the correctness of code and smart contracts, for those applications where value is high and security is paramount. Cardano combines this with an innovative layered approach that separates accounting of value from all other smart contract and computation activity.

This means functionality can be added to smart contract capabilities without changing the protocol responsible for the cryptocurrency.” (Source – Reddit)

The reason why most people don’t know as much about Cardano as they do about Bitcoin, Litecoin, Ethereum, Ripple, etc. is that it was launched in Q4 of last year so we’re still only a few months into a world where Cardano exists. Since its launch the cryptocurrency has received a lot of praise along with a fair share of skepticism which centers on the fact that Cardano is a private VC-funded company that owns a big chunk of ADA themselves.

Love it or hate it, Cardano is following in Ripple’s most recent footsteps and is quickly becoming one of the fastest-growing cryptocurrencies of 2018, only three days in. Like Ripple, if Cardano gets added to CoinBase we can expect to see even more growth and while there hasn’t been anything officially announced yet, given the trading volume ADA has seen over the last week it’s very likely on their radar now.

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