#DecryptCrypto $ADA
So I am hoping the Cardano / $ADA community is a little more polite than the #ShibArmy . For a group trying to reach $0.01 ... you kind of need a large number of people willing to buy and hold. Barking at people who are crypto curious and just trying to learn and explore is not the best look. Kind of like yelling at a child for not understanding what you haven't taught them. So lets try this again but with some ground rules:
1️⃣Understand that I am by no means an expert in the subject matter and am simply trying to learn as much as I can as quickly as I can ... and happen to want to share my research notes w/ the community
2️⃣I invite differing view points but please be respectful and provide helpful information to learn from
3️⃣Negativity for the sake of being negative will just get me to block you in a hurry ... ain't nobody got time for that
History:
- Launched in 2017 w/ Charles Hoskinson as the founder of $ADA - worth noting that he was one of eight original founders involved w/ $ETH
- Mission of the blockchain is for enabling economic empowerement for those who need it most
- Blockchain designed to be environmentally friendly, secure, decentralized, and proof of stake w/ smart contract functionality
- Huge emphasis on academic rigor w/ peer reviewed format before rolling out updates
Utility:
- High throughput transaction per second w/ energy efficient consensus mechanism called Ouroboros
- Two tiered structure w/ Cardano Settlement Layer (CSL) for level 1 blockchain and then Cardano Computational Layer (CCL) for level 2 tokens, smart contract, and dAPPs ... ya my head hurts on this one
- Cardano Foundation - Swiss non-profit created to empower innovators and change makers w/in industry w/ inclusiveness and transparency
- EMURGO Team - work w/ government, companies, universities, and other groups to utilize the Cardano system for projects such as tamper proof verification, internet of things, DeFi, anti-counterfeit solution, and invetory tracking
- IOHK - Blockchain engineering company updating Cardano w/ focus on formal methods and peer-reviewed
My Questions:
- Proof of Stake is accomplished w/ $ADA and that is what $ETH is moving to with ETH2 which people are hyped about ... so I why is the price movement in $ADA essentially moving sideways for a month
- Seems to be a lot of developers w/in the Cardano blockchain creating new utility that is unaffiliated with Charles Hoskinson and I am not sure how to find an org chart of all projects that are going on ... so if you can point me in the right direction I would appreciate it
- What are the gas fees like compared to ETH?
- What are some dApps that are actually running on the blockchain that I could actually use and interact with?
Disclosure:
- I hold a position in $ADA and do plan to hold long term as I do hope to see Charles Hoskinson's vision for Cardano its utility comes to fruition ... I hope it isn't wishful thinking as he truly seems bent on improving the human condition
Resoures:
Cryptopedia: https://www.gemini.com/cryptopedia/cardano-ada-staking-blockchain
White Paper: https://cardano.org/
Charles Hoskinson YouTube: https://www.youtube.com/c/charleshoskinsoncrypto
#ConversationStarter
175
192
Long term ada holder
Ada is on the move today! Good stuff @ctsshah
So I'm still struggling to wrap my head around all the tech involved with crypto. But apparently something on the Cardano network called the Plutus Application Backend was released a couple days ago. This means that developers can start testing their dApps on Cardano. Previously, developers had been writing code but hadn't been able to give their dApps a test run to see how well they are working a…See more
Gas fees on Cardano are miniscule compared to Ethereum. Also, Cadano uses 0.01% of the electricity that Bitcoin does.
Jonathan@jdb1
Solana beat Cardano to the finish line on Smart contracts. This won't matter long term, but it's stalled ada as sol has had a huge influx.
Cindy Irish@cinnyi
There is so much to take in! Love your posts!!
I’ve been in cardano/ADA for a year. Other then I big doge win last year this is a coin that I feel is in for the long haul! Many of the reasons have been stated above. It’s gone up, down, sideways but has always been special to me!
Ethereum is also one of my favorites but ADA I have a much larger stake in and feel over the next 5 years will really be shinning!
We’ll look back and laugh when we c…See more
A few months ago they attempted to launch smart contracts on their chain and hit some roadblocks I believe that caused them to kind of, stall out.
@usmcnash hoping to hold long enough to be considered a long term holder
@dianameans I still hold $SHIB and don't plan to give up on it, I just wish the knee jerk reaction wasn't to shoud people down. Show me the utility I am missing.
@vbtiger16 I saw it. It happened right after I had to liquidate a position in SOFI so that I could free up cash to hopefully get some of the Rivian IPO. Now my plan is…See more
@k8thegreat I see $ETH and $ADA as Microsoft and Apple or Yin and Yang. Both will force the other to innovate and keep each other from stagnating.
@jdb1 that makes a ton of sense!! Surprise Solana isn't on Public considering they had the guy on here for a Public live a few weeks ago
@cinnyi glad you like it, but it only scratched the surface
@retiresoon Thanks! I think of this one almost in the way I donate the charity. If my money in this position goes up in smoke ... I want to believe they will help the developing nations in Africa. I just watched Charles Hoskinson's AMA end of October and he gets me excited anytime I watch him.
Jonathan@jdb1
I'm a huge holder elsewhere. I sold my small bit on Public today. I also hold Shiba elsewhere. Both I got at prices below Public, just due to timing.
@sicdood wish there was a nice pretty timeline
Ada holder
B
Ben@benjammin1234
The people that shout the loudest seem to be the ones that know the least. Keep at it.
Gas fees have been stupid on Ethereum, will be interesting to see how much changes with Ethereum 2.0, Beacon Chain merge, Shard chains.
Does anyone besides me love HBAR?
@jimmycool crypto newb ... what is daat?!
@jimmycool I got some hbar over on Voyager, I've had it for awhile, not doing too bad with it
Have it in my long term portfolio. Meaning I can only sell at equinoxes. Although I am the only person holding me to that.
@bearsfan154 maybe I'll hold until the Lions win a Super Bowl 😂
@ctsshah that is one LOOOONG term investment!
@jdb1 to be fair I was exploring it after I posted my #DecryptCrypto on $SHIB last night. I covered a bunch of firsts. Used Meta Mask for the first time, buried some $SHIB on ShibaSwap and paid a pretty penny in $ETH fees … still not sure it went through. Did it this morning
Cardano isnt too bad, I also like tezos, cosmos, Solano, and flow, just to name a few. But, not in that order, they usually do well. I think tezos and flow are going to do really well in the near future.
Keep doing you I think it's great And public has a great community... I think maybe some may be cranks.... Stressful. But I'm new as well so all knowledge is welcomed
@squrriel I ended up trading out of Tezos into Cosmos. I got Sol but don't know anything about Flow. What is that? Why do you think Tezos is positioned to do well? I started seriously on Coinbase so I had done ALGO and XTZ but ended up converting most to ETH2 staking, ATOM, and Shib
WS
CTSSHAH...or Vikings lol..good luck
@schmidt77 Ya I'm new here too. Got on end of June this year and have loved learning from the community and random conversations. The new flood of people with the launch of crypto has brought with it some cranks.... 😂I wield the block button loosely. Figured I should give fair warning
