Place/Date: Limassol, Cyprus - March 22nd, 2021 at 5:03 pm UTC · 3 min read
Contact: Bitcoin PR Buzz Press Team, Source: 1xBit
Cardano (ADA) has been one of the success stories of the 2020/2021 crypto bull market and has soared into the Coinmarket top 5 over the last few months with no sign of slowing down. As a leader in the crypto betting industry 1xBit casino recognizes that the provably secure nature of the ADA token makes it an ideal option for the crypto betting industry and has now added it to the growing list of supported currencies on its online casino and sportsbook.
Much like Ethereum, Cardano is a smart contract platform that was conceptualized by Charles Hoskinson (one of co-founders of Ethereum). Being a smart contract platform, it allows users to exchange money and assets (property, shares, and stocks) while maintaining maximum transparency and eliminating the need for a middleman.
However, what is new and unique about Cardano (and the blockchain technology that it utilizes) is that it has been developed using scientific philosophy and peer-reviewed academic research. It is the first of its kind to make use of ‘high assurance code’ to standardize, protect, and promote the Cardano protocols. Active Cardano users are awarded in the ADA utility token for their participation on the network.
Satoshi Nakamoto’s concept of Bitcoin was revolutionary when it was first conceived. It was the first cryptocurrency that leveraged blockchain technology to offer a decentralized finance counterculture that did not involve the government or any other middleman. However, the problem with these first-generation blockchain(s) was that they did not allow for complex conditions to be added to transactions.
Ethereum sought to resolve these problems by offering smart contracts that improved the utility of cryptocurrencies that utilized blockchain technology. The Ethereum network gave developers the opportunity to create applications that use a programming language running on blockchain.
To date, it is the most evolved form of blockchain technology that focuses on resolving concerns about scalability, interoperability, and sustainability. This is why Cardano (ADA) offers much promise and may even revolutionize the cryptocurrency landscape.
One of the most popular uses for Cardano is gambling: betting and playing casino games because of how it has been deemed ‘provably secure’ (player-friendly mechanism that ensures there is no foul play). That’s why 1xBit is excited to welcome and embrace Cardano (ADA) on its casino and sportsbook.
1xBit is an online casino & sportsbook where fun meets crypto: the list of cryptocurrencies has already reached 30, including EOS, BNB and now Cardano!
For anyone wondering why they should join 1xBit? Some of the benefits include:
Hop over and join in on the fun at 1xBit!
Disclaimer: 1xBit is the source of this content. This Press Release is for informational purposes only. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all.