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Cardano aka 'ADA' is being touted as the next big thing in the Blockchain space. And December 2017 saw, what can be termed as Cardano's bull run month.
ADA almost stayed under the radar of many for almost 2 months–from 1st Oct till the end of Nov–before it started the much awaited, and deserved, traction.
The prices of ADA rose from $0.11 (on 1st Dec) to reach $0.76 on the dawn of year 2018.
Cardano's Bull Run
Effectively, Cardano prices soared close to 7 folds in the month of December.
The majority of trades, for ADA, has been occurring on two exchanges i.e. Bittrex & Binance with 49% & 46% volumes respectively.
What is Cardano ?
Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. Cardano is sometimes called the "Ethereum of Japan" because 95% of the participants in the ADA Initial Coin Offering (ICO) were Japanese, but it's known more for its heavily research-based approach consisting of "a global team of scientists and academics who have meticulously studied the blockchain space and what makes a coin successful."
Cardano project has actually that began in 2015. It was created by Charles Hoskinson, a co-founder of the more popular Ethereum blockchain. It’s therefore little surprise that the platform’s proof of stake algorithm – called Ouroboros – is attempting to go above and beyond ether.
According to Jesse Damiani well known entrepreneur, journalist and CEO of Galatea, Cardano aims to become an advanced smart contract platform—having invented a new Proof-of-Stake (POS) method called Ouroboros—offering more robust features than Ethereum and other protocols. So ADA coin, the cryptocurrency of the Cardano network, purports to offer deeper functionality—while also functioning quickly, efficiently, and cheaply (like Litecoin) and offering the same kind of 'store of value' we see in Bitcoin. All in one coin.