Crypto Exchange Bitstamp has Decided to List Cardano (ADA)
Bitstamp is considered one of the oldest cryptocurrency exchanges operating in the world. On the other hand, the same platform is also one of the most popular crypto trading markets in the European space. Recently, Bitstamp posted a new blog on its official website. The article started by introducing the Cardano network.
The article explained in detail that the Cardano blockchain is one of the most promising blockchain projects in its early stages of development. According to the blog, that the network allows developers from around the world to come together and contribute their work, vision, and ideas without facing any hurdles. The official Twitter account of Bitstamp has also posted the news recently.
Cardano Community Welcomes Bitstamp’s Decision
The Cardano investors and crypto community members have taken to social media platforms to spread this news. The market experts claim that this is a good omen for the network. Despite vamping up for contributing to the technological development of Africa, the investors in Europe are taking an increasing interest in the project. On the other hand, the blog has mentioned several benefits of the Cardano blockchain system to make the user familiar with the project.
The blog post claims that Cardano is a decentralized application development environment. It is pointed out that the blockchain project uses the Ouroboros protocol that allows it to use the Proof of Stake consensus model. The blockchain was created keeping in view the peer feedback and audit reports. Furthermore, after the Alonzo hard fork, smart contracts capability is also activated on the platform.
The ADA token has not been listed yet. The Bitstamp management has published a detailed time frame for informing the users of the process. According to the map, by November 23rd the ADA withdrawals and deposits are going to become visible on the market but will not be functional. By Nov 24th, the digital investors will have the ability to place and cancel their orders without having direct access to the ADA tokens.
On the same day, the order matching will start taking place and all the traders will have full exposure to the ADA token just like other cryptocurrencies listed on the platform. The exchange management has also noted that Cardano claims to be scalable enough to support global financial systems and secure enough to manage the data of billions of users. The digital wallet project Daedalus built on top of the Cardano network has recently released a 4.5.0 version.