Apparently this project has been in the works since 2015. They may have had some type of agreement from 2015 with Bittrex to get listed once their network became active. Whatever the case maybe it opened with $64 million dollars worth of volume which is pretty much the total that was originally raised. Right now the volume is at about $10 million.

High Level Overview

It seems this project is similar to Tezo's as they want to be able to not hard-fork. Given that Bitcoin is about to split to yet another chain on October 25 to create Bitcoin Gold any projects that try to tackel this issue from the start are worth looking into.

Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world. The platform is being constructed in layers, which gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks

It seems like they are trying to build on the lessons learned from the past. They are also a using proof of stake instead of proof of work to secure their network.

Cardano uses a revolutionary new proof of stake algorithm called Ouroboros, which determines how individual nodes reach consensus about the network. The algorithm is a crucial part of the infrastructure that supports the Ada cryptocurrency and is a major innovation in blockchain technology

Chart and Trend

It's hard to read any type of chart for this coin since it just got listed two days ago. However using the 15 min chart you can see the 50 and 200 Moving Averages start to appear. It's currently trading between them which is a good sign for figuring out a fair market value. In the short term it could break through 600 satoshi and try to test 700.

Conclusion

I'm not jumping all in with this one as I still have to do some research. However from what I've seens so far looks pretty promising. In general I like Proof of Stake coins as it's a way to make interest off your investment. I'm going to watch this over the next week and see how it trades. Thanks for reading!!!

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