After countless requests from customers, CEX.IO, a popular bitcoin and cryptocurrency exchange, announced today the listing of ADA, the native asset of 3rd generation blockchain Cardano.
CEX.IO users can now deposit ADA and buy the token with a Visa or Mastercard. The first Cardano market available for trading will be ADA/USD. In the near future, the exchange plans to add support for more ADA markets.
Cardano is an open-source cryptocurrency project and a public blockchain platform with a scientific method. It is built around academic research and written in Haskell. The team behind Cardano claims that they follow the strict development standards and a thorough peer review of the code.
The ecosystem of the project consists of:
- Cardano — a blockchain platform that has evolved out of scientific philosophy;
- Ouroboros — a provably safe PoS algorithm;
- Daedalus — a wallet that is set to run dApps on the blockchain.
According to the project, the Cardano protocol aims to take the needs of regulators into account. It also protects the privacy of users. Cardano will use a democratic governance system and allows the project to evolve over time. In addition, it can fund itself through a treasury system. Cardano is designed to be flexible and adjustable, with the system able to be easily upgraded by soft forks. Thus, it can prevent the community from splitting due to hard forks.
Officially launched in 2017, Cardano is led by Charles Hoskinson. There are three entities connected with Cardano:
- IOHK (Input Output Hong Kong) — the engineering company. They contracted it to create, develop and maintain the platform until 2020.
- Cardano Foundation — a Swiss non-profit organization. It manages the Cardano development and promotes the project. Apart from that, it works with regulators and forms partnerships.
- Emurgo — a for-profit company. It is working in order to boost the Cardano ecosystem through the commercial use of its blockchain and platform.
When it comes to the projects in the industry of decentralized technologies, transparency is of the top importance. Thus, apart from the Cardano Foundation being the final auditor for the IOHK’s work, there is also a third-party auditor — FP Complete. This company controls monthly reports and shares them with the community.