Cardano coin: A detailed analysis of highly undervalued block chain infrastructure project

Cardano is a fully open source decentralized public blockchain crypto project for ADA cryptocurrency. The designers have initiated a ground-up scientific philosophy that creates a secure and workable blockchain to protect user privacy.

Blockchain consensus mechanism - Proof of Stake (POS) algorithm called Ouroboros which is extremely cost-effective compared to mining

Blockchain is a decentralized peer-to-peer system with no central authority. To make a decision, a consensus mechanism is used to verify the validity of the information added to a new block.

Proof of Stake: It is a type of consensus algorithm with no mathematical puzzle. A new block is chosen based of the number of coins or "stake" a person holds. For example, if a person has a stake of 5 coins and other with 50 coins, the person with 50 coins will be chosen as next block Validator.

ADA has two layers -- computational layer and Cardano Settlement Layer (CSL). CSL (Settlement or accounting layer) which functions as currency/store of value and computational layer is the layer of implementing smart contracts.

Latest news update:

The entire crypto community got shocked and speechless when ADA co-founder proposed a cooperation between ADA and Tron (TRX). If this proposal comes true it will be highly beneficial for both coins.

Charles Hoskinson, Cardano founder and leader at IOHK, tweeted that new wallet complementary to the Daedalus wallet will be coming to the market before 2019.

The IOHK’S chief Charles Hoskinson was invited by Google to discuss future of Cardano and other cryptocurrencies and advancements in technology.

CNBC “Crypto trader” labels Cardano (ADA) as most undervalued altcoin.

Technical:

The major support is around $0.11 and any violation below will drag the pair till $0.0790.The pair declined more than 85% from the high.

On the higher side, $0.1470 (20 day MA) and any break above targets $0.1887 (55- day MA)/$0.2375/$0.3390 (200-day MA).

It is good to buy on dips around $0.125-0.13 with SL around $0.0785 for the TP of $0.2345/$0.3300.