What is Cardano, and what’s going on with it lately?

What is Cardano?

Cardano is a blockchain and cryptocurrency project with the ambitious goal of addressing issues related to scalability and sustainability. Cardano aims to create a platform where complex smart contracts can be created and executed in an open-source environment, with more advanced features than existing blockchains such as Bitcoin or Ethereum. More on smart contracts in a bit.

Cardano’s Price Has Skyrocketed

For many years now, Cardano has been a top-15 cryptocurrency in terms of market value. However, recently it has gained significant ground. As of early September 2020, Cardano’s ADA token sits as the third-largest cryptocurrency with a price of roughly C$3.60. When you put this price into perspective by comparing it with where its price was just a year and a half ago (C$0.05), it’s hard not to take notice of its remarkable price increase over that period.

Hello, September 12

On September 12, Cardano will be releasing the ‘Alonzo’ update, and this is an exciting time because it will bring several updates to the platform. However, the most significant feature is the release of new smart contracts.

What’s Next

As the entire cryptocurrency market, it’s hard to predict where exactly prices will end up. But, with the price action displayed in 2021 and the Alonzo upgrade coming in September, it’s hard not to be bullish about Cardano.

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