How is Cardano different from other platforms?
The project's creators claim that they are guided by a scientific approach when developing the network. In particular, the team has published over 90 documents describing Cardano technologies. It is claimed that, unlike previous generations of blockchains (the first is Bitcoin, the second is Ethereum, the third is Cardano), the system will not suffer from scalability issues and is ready for mass use.
For this purpose, a proprietary Proof-of-Stake consensus mechanism called Ouroboros was created. It has classic security systems as well as rewards within staking. The system processes transaction blocks using a settlement delay mechanism. Cardano developers also claim that Ouroboros distinguishes network participants and incentivizes only honest users.
How to mine ADA?
As with other cryptocurrencies operating on the PoS algorithm, the issuance of Cardano occurs through staking. You can mine #ADA in two ways: by running your own node or by delegating your tokens to a staking pool. User rewards are distributed based on the pool's performance and the amount of delegated #ADA.
To start mining ADA, you need to choose a pool and delegate your tokens to it. After that, you need to wait for the delegation to become active. After this, you can track the staking process and make adjustments if necessary.
How to store Cardano ( $ADA )
Cardano is supported by many cryptocurrency wallets. For example, among hot wallets: those created by the project developers Daedalus Wallet and Yoroi Wallet, the Swiss YouHodler, as well as popular cold wallets: Ledger Nano S and Trezor.
It is not recommended to store cryptocurrency on exchanges, as it may be vulnerable to hacking attacks. You should trust your funds only to verified services. In this case, it is advisable to rely on wallets that are recommended by Cardano.
What is the future of Cardano and the ADA token?
The project is entering the final stage of development called 'Voltaire'. If successfully implemented, the network will become more decentralized and scalable. This could positively impact the prospects of the ADA token. Much depends on the overall movement of the cryptocurrency market. Therefore, Cardano may increase in value if the prices of the largest altcoins rebound.