2021-08-13 17:13:57

Cardano announcement today: ADA coin hits over $2 ahead of smart contract update

Cardano (ADA) surged to $2.03 on Friday, making it the third largest cryptocurrency by market capitalization at one point, according to a report by Forbes.

The cryptocurrency’s market capitalization has reached over 65 billion ahead of today’s announcement on its smart contract launch date for its main network, which could help Cardano compete equally with Ethereum, the report said.

A smart contract is a program on a blockchain that automates the execution of an outcome, according to IBM.

One ADA coin is currently worth $1.99, spiking 15.73% within the past day and 42.87% within the past seven days, according to real time data tracked by CoinMarketCap (Note: market capitalization is constantly changing). Its market capitalization is currently $63.2 billion.

What is Cardano (ADA)?

Cardano is a decentralized public blockchain and cryptocurrency project that is the first to evolve out of a scientific philosophy, and research-first driven approach, according to Crypto.com. ADA is the native token of Cardano.

How to buy ADA coin

ADA coin is available to purchase on Crypto.comCoinbase, Kraken and eToro, to name a few.

What is cryptocurrency?

Cryptocurrency is a digital asset designed to be used over the internet, according to Coinbase. It’s decentralized, meaning it isn’t controlled by the government or any other central authority such as a bank.

If you’re interested in investing in other cryptocurrencies such as Bitcoin, Dogecoin, Ethereum and Tether, here are some options to get you started:

If you want to educate yourself more on cryptocurrency and how it works, you can always enroll in an online course, too. Courses are offered at online platforms CourseraLinkedIn Learning and Udemy.

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Nicolette Accardi can be reached at [email protected]. Follow her on Twitter: @N_Accardi. Find NJ.com on Facebook. Have a tip? Tell us. nj.com/tips

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