As cryptocurrencies go, Cardano is actually quite new. Although its story starts as far back as 2015. Significantly, it’s not nearly as old as Bitcoin, which was around for eight years before Cardano was first available to buy. A technologically advanced proof-of-stake currency, Cardano has grown in a short time to be one of the biggest players in the crypto scene. Investors do not buy and sell ‘Cardano’, but instead they trade in ADA coins.
This cryptocurrency officially launched in 2017. The Cardano story wouldn’t have happened, however, without Ethereum, the world’s second-biggest cryptocurrency after Bitcoin. Ethereum launched in 2015, headed up by Vitalik Buterin.
A man named Charles Hoskinson assisted Buterin in the development of this crypto. The two men, however, had different views on the direction of Ethereum. The former felt it should remain non-profit, whilst the latter thought it should be backed by venture capitalists. As a result of these differences, Charles Hoskinson parted ways with Ethereum. He began work on Cardano as early as 2015, although it did not begin trading until 2017. When it was first traded, a coin was worth just a few cents, or pennies. The ADA very quickly grew in value. The highest value ever was $3.10, which it reached in September 2021.
What is Cardano (ADA)?
It is one of the world’s 4000 cryptocurrencies, a virtual type of currency that exists only online. In fact, Cardano (ADA) is a particularly potent cryptocurrency and is considered one of the top ten. Like all cryptos, it is mined by those who process the transactions, making it safe, secure, and transparent. Unlike Bitcoin, Cardano uses a proof-of-stake, not a proof-of-work blockchain, which is faster to process. This is therefore a greener system, as it uses far less energy to process transactions. In fact, it is the biggest proof of stake blockchain system in the world. Cardano is also thought to be one of the most technologically advanced cryptosystems. Named after an Italian mathematician, Gerolamo Cardano, the actual currency, ADA, is named in honour of the English mathematician Ada Lovelace. The ADA has a delightfully named sub-unit, the Lovelace. The ratio for these is 1 Ada:1,000,000 Lovelace.
The future of Cardano (ADA)
There is little doubt that Cardano has a bright future, even given the volatile nature of cryptos. Predictions for growth are very positive and place it as one of the top cryptos for years to come. Many forecasters have predicted that the ADA will be worth at least $5 in the next decade. In fact, some speculators forecast that the price of 1 ADA could be as high as $15 in 2030.
Betting with Cardano (ADA)
The good news is that is it possible to bet online with Cardano (ADA), and there are many advantages to doing so. Firstly, like any crypto, it is a safe way to bet, as crypto transactions are better protected than those made with traditional fiat currencies.
Whilst you will not find Cardano available at as many casinos as the big guns like Bitcoin, Litecoin and Ethereum, it is becoming more common. Many of the biggest and most well-known crypto casinos offer the option to bet with Cardano (ADA). Cardano transactions are fast and fees are low, which is another reason it is popular with online bettors. Because of the bright future of Cardano, withdrawing big wins in this currency and putting them aside as an investment, is a great way to make the most of gambling winnings.
Cardano (ADA) betting sites
There’s a good choice of online Cardano casinos for players looking to deposit and withdraw with this crypto. This includes Bitcasno.io, one of the most established crypto casinos in the world. It offers players the chance to enjoy sports betting, e-sports, slots, table games, and a VIP reward scheme. Another option is BC. Game, a crypto casino that is well-known for offering the chance to use lesser-known cryptos. This interesting casino features a number of in-house games, as well as its own in-house cryptocurrency, the BCD.
As you can see, there are plenty of reasons to choose Cardano for betting. There are also plenty of places to bet with this leading crypto. Although its development began in 2015, the real Cardano story begins in 2017, when this revolutionary crypto current was first traded. With impressive predictions and low-energy efficiency, there are many reasons this crypto will stay on top. In fact, when it comes to Cardano, you should probably keep a close eye on its progress.