Get Cardano Coins for Free
Cardano is a Proof of Stake blockchain created to solve three main problems its founder, Charles Hoskinson, identified in other blockchains. Hoskinson believes that cryptocurrencies would suffer from three main problems: scalability, interoperability, and sustainability.
ADA powers the Cardano network the same way XRP powers Ripple. Users buy this crypto coin to facilitate transactions and get the right to influence any policy changes with votes. It wasn’t long before Cardano allowed delegated staking where ADA holders could allocate votes to other users and earn ADA rewards on the blockchain.
If you want to know more about this blockchain project, the full potential of ADA, and how to get free Cardano coins, read on below.
What is Cardano?
To get a good grasp of Cardano, we must understand the three main pain points it addresses.
Bitcoin and other cryptocurrencies find scalability hard to solve. Because of its block size, the network can only confirm around five to seven transactions per second. That is slow, especially when compared to Visa, which can process thousands of transactions per second.
Cardano uses Ouroboros or a proof-of-stake (PoS) consensus algorithm to enable scalability. This algorithm divides time into epochs and slots. A slot leader is nominated in each slot, and they get to be responsible for deciding and choosing which blocks can be added to the blockchain.
Interoperability is an old problem that has been haunting blockchains ever since. Picture an old Wi-Fi router. We use a router to get all of our devices connected to the Internet. But if only an iPhone can connect to the Apple router, then other people living in your house would be forced to get similar hardware to connect to the Internet.
To address this issue, Cardano relies on the KMZ sidechains protocol. This protocol allows assets to move securely within the Cardano network and onto other blockchains. The developers foresaw the future where currencies will be needing a way to communicate with each other hence this protocol.
Lastly, there is much debate about the sustainability of cryptocurrencies. If we expect digital currencies to host most of our finances, we need a way to guarantee their sustainability. Some argue that cryptocurrencies aren’t environmentally friendly due to their massive carbon footprint.
Because of its Proof-of-Stake nature, Cardano is more eco-friendly than its counterparts. It also establishes a treasury that collects fees and pays developers who contribute to improving the network. Not only is Cardano self-sustaining, but it also ensures it can stay functioning for the future.
How to Get Cardano (ADA)
There are two ways to get Cardano. First, you can buy Cardano on legit crypto exchange platforms that support it. All you need is to acquire a wallet that can store ADA, deposit funds, and then make your purchase.
The second option is to stake it. By staking your ADA, you get rewarded with a certain percentage of it. The rule of staking is simple: the more coins you stake, the more you receive.
But what’s the one thing these two options have in common? Both buying and staking require money. Now here’s the catch: the crypto market is hostile and unpredictable. You better be prepared to lose money. The higher the rewards, the higher the risks you’ll have to take. You can achieve enormous returns while also suffering drastic losses the next day.
If you don’t have the money you can afford to lose, you are better off working with FreeCryptoRewards. We offer you a completely secure way of acquiring ADA without spending money. Simply complete daily tasks such as watching videos, taking surveys, and completing offers.
Each task you complete earns you points. You can even invite as many friends as you like to get more points. Use these points and claim ADA for free. We deposit your crypto rewards straight to your Coinbase wallet.
The best part? You can also claim other available cryptocurrencies like dogecoin and LINK tokens, to diversify your portfolio at zero risk to you. Very lucky few can enter the crypto market armed with a diverse portfolio without spending a single penny.
Beware of ADA Crypto Scams
Ever since cryptocurrency went mainstream, so did a bunch of crypto scams. Before you click on any of those suspicious-looking websites promising you a steady supply of ADA or any other crypto, ask yourself first if the hassle of dealing with hacks, identity theft, and other nefarious cyber attacks is worth it.
Be wary when it comes to transacting with scam websites. You might end up losing more than you bargained for.
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