Could Cardano Become the Next Ethereum? – NEWSBTC 01/03/2018

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Hi, it’s Invest Diva’s Kiana with News BTC and here is your cryptocurrency update. Major cryptocurrencies started off the first trading day of the year on a positive note, with Ripple surging to the second largest cryptocurrency by market cap, right after Bitcoin. However, today I’d like to take a look at the Cardano blockchain which goes by the name ADA on the cryptocurrency trading platforms. Cardano is now the fifth largest crypto by market cap and just like Ripple, Cardano can’t be mined. But it can be staked. Cardano is pitched as the third generation cryptocurrency and is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers. Unlike Bitcoin, Cardano has two layers. The first one is called the Cardano Settlement Layer(CSL) which works as a more efficient bitcoin, handling the balance ledger and basic transaction side of things.The second layer is called the Cardano Computation Layer. This is where decentralized apps and smart contracts built on Cardano will be based and can operate separately on the CSL layer. Cardano's token, Ada, reached new highs on Tuesday, approaching $0.80, as the next major update for the platform being due for release next week. Miners and crypto enthusiasts alike are hoping for it to become the next Ethereum, especially Bitcoin is losing its luster with some of its earliest and most avid fans, the criminals. At the time we’re taping this video, ADA is seeing a pullback though versus Bitcoin, and we could see a buying opportunity for ADA/BTC at the 50% Fibonacci retracement level 0.000031. Thanks for watching, invest responsibly, and I’ll see you with more updates tomorrow.