How To Buy Cardano (ADA) in Canada: Everything You Need to Know
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With 7 new coins added to Bitbuy’s platform last month, it is the perfect time for investors to learn more before getting in on the action. One of the most talked about coin among the top cryptocurrencies in 2021 is Cardano, whose native token (ADA) will be available to all Bitbuy users in the coming weeks. In this article, we will talk about how Cardano’s Proof-of-Stake blockchain advanced and changed the crypto industry forever, go over everything you need to know about the project and the coin, as well as how you can buy ADA in Canada.
Before cryptocurrencies like ADA were born, all crypto blockchains used the Proof-of-Work method to verify transactions. When the idea of decentralized digital currency was proposed to the world with Bitcoin, the founder and creator Satoshi Nakamoto, had to find a way for transactions to get verified without the use of an intermediary party like banks or FinTech’s (Ex. PayPal). This problem brought us something called a “consensus mechanism,” which is a system that connects all computers (nodes) in a crypto network to agree on which transactions are legitimate. For a decentralized currency to work, Nakamoto had to make sure that the possibility of fraud and spending the same money twice was out of the picture. The first consensus mechanism, Proof-of-Work, was created and adopted by Bitcoin at the dawn of cryptocurrency and was used by many others in years to follow.
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