Cardano (ADA) rose in price after the founder’s tweet
The value of the Cardano was up 13% in the moment. The asset is now up 5% per day and trading above $1.6
Cardano’s exchange rate rose 13%, momentarily reaching $1.76, before starting to decline. As of December 3 13:59, the cryptocurrency is trading at $1.66, it has risen 5% in the past 24 hours. The price of altcoin rose sharply after the head of IOHK Charles Hoskinson commented on the hack of DeFi-project MonoX Finance, which resulted in a hacker stealing $31 million worth of cryptocurrency.
“Plutus was written specifically for Cardano (ADA) for this reason. To produce exceptional secure code, good languages and tools collaborate with the developer and auditor. Bad language is like a loaded gun that can fire its owner,” Hoskinson wrote.
On Nov. 30, a hacker hacked the MonoX platform, which runs on the Polygon platform. The developers explained that the attacker took advantage of a bug in the software code that allowed him to steal $31 million worth of cryptocurrency.
What is Cardano (ADA)?
Cardano is a multilevel blockchain platform based on Proof-Of-Stake, written in the Haskell programming language and designed to create decentralized applications based on smart contracts.
Gerolamo Cardano (1501-1576), an important Italian mathematician, scientist, biologist, chemist, astrologer, philosopher, writer, and gambler, is honored with the platform’s name.
It makes sense that Cardano’s creator, mathematician Charles Hoskinson, named the project after Cardano, which aims to create a flexible and interoperable kind of programmable money using scientific methods based on mathematical proofs and game theory.
Cardano’s native cryptocurrency token, ADA, is named after Augusta Ada King, Countess Lovelace (1815 – 1852). The daughter of the poet George Byron, Ada Lovelace was a mathematician and author of the description of the first computer for which she wrote the world’s first program. She is considered the first programmer in history.
The subunit of the cryptocurrency ADA (0.000001 ADA) is called Lovelace.
