possibilities, probabilities, and potentials
On the Cardano Forum, I posted, following my thread on the crypto/blockchain glossary:
( Altcoin: Alternative Coins besides Bitcoin)
Is ADA considered an Altcoin?
Yes, ADA is an altcoin. In my opinion the cryptocurrency with the highest market capitalization is the maincoin. Bitcoins market capitalization lays around 65%. So if e.g. ADA gets the highest market cap it could be considered as maincoin.You could also say that Bitcoin was the first coin created and every other coin is going to be alternative version of the idea, so Bitcoin is the origin.
Thank you again, Cardano_G.
Naive and new as I am, it seems possible that the Cardano ADA will become the market dominant coin. As I understand, it is unique in that it is a platform and protocol designed to integrate altcoins. Does Cardano have any plans for developing a cryptocurrency exchange? Since crypto dot com has tokens (CRO and MCO), an exchange, and secure wallet, I am wondering if Cardano will do the same. Thank you.
Great question @Emanatepresence.
I reckon that once the Voltaire release takes place (smart contracts) this is one of the first things we’ll see.
Personally, I've given a bunch of thought to this actually, I think and hope that we’ll see them developed as decentralised exchanges (dEx) with atomic swaps (to drastically lower manipulation that centralised exchange order books present). they could even happen off chain which would make them achieve finality almost instantaneously!
Then cherry on the top would be Ada being the reserve and base currency for liquidity and coin/token pairings respectively!
Like ethereum, cardano has the both a currency element as well as a computation element.
Unlike ethereum, cardano separates the currency from the computation. (this decoupling is really good from a speed and security standpoint as well as for implementing and integrating future developments).
In cardano you’ll hear the currency element referred to as the settlement layer (SL) while the computational element will be referred to as compute layer (CL).
The computation element (which cardano will have once voltaire release occurs) is what is referred to as a virtual machine/computer.
On this, folks will be able to run programs (aka smart contracts) and well as create tokens. these tokens would be “alt-coins” that run on cardano. most likely stored on the ledger on SL, and accessed by CL if a smart contract requires some payment transaction to occur, perhaps a fee for executing/running the smart contract for instance.
“Alt-coins” that run on ethereum and other platforms will in the future be interoperable, and be able to run/interact with “alt-coins” on cardano.
An analogy I think is useful would be to compare bitcoin to gold (most valuable as one thing, store of value, and if your feeling generous with attributes - a rare and cumbersome medium of exchange), then compare ethereum to oil (use as fuel/energy or create byproducts like plastics etc from the one thing, but you can only use it for either or).
CARDANO would be like gold and oil.
A very convenient and secure medium of exchange from the outset - which then as it ages and gains adoption becomes a store of value. All the while still able to function as a world computer unimpeded. Keeping in mind the value computation will continue to have moving into the future as it becomes decentralised and ubiquitous.
Breaking Cardano News - ADA as Cash -