This makes BitMEX the 5th exchange to list the ADA token since Bittrex did so in Oct. 2017, followed by Upbit and Binance.
Cardano was designed by professionals in academics and cryptography over the last few years and draws from various features of existing cryptocurrencies such as Ripple, Bitcoin, and Ethereum, but uses a proof-of-stake security model as opposed to the more common proof of work.
Cardano is essentially a full blockchain which was built from scratch in the functional programming language Haskell. At the center of Cardano lies Ouroboros, a proof-of-stake consensus algorithm.
Ouroboros comes with a mathematical proof of security that has undergone intense peer review, resulting in its acceptance at the major cryptography conference Crypto 2017.
News broke last week that GRNET – the national research and education network of Greece – is working on a pilot project to verify student diplomas on Cardano, signifying a first official use case for the blockchain.
The chairman of the Cardano Foundation, Michael Parsons, stated: “This new listing is indicative of Cardano becoming a global blockchain platform. We are excited to see Cardano list with BitMEX. Adoption of ADA by new trading platforms is reflective of the future that Cardano has as a blockchain platform.”
The BitMEX futures listing of ADA is a form of fixed-date contract that allows traders to speculate on the appreciation and depreciation of the ADA/XBT exchange rate with a leverage of up to twenty times. It is not required for traders to have ADA to trade the contract – it only requires bitcoin as a margin. Full details about all of this are available on the BitMEX site here.
CryptoBuzz News Corp