Cardano Lists ADA Token on BitMEX

ADA token from Cardano started to be listed on the futures exchange at BitMEX starting January 8, 2018, Monday, 8 a.m. GMT. BitMEX is the fifth exchange to list ADA token after Bittrex, Upbit, Binance and Coinnest.

Cardano was designed by top academics and cryptography experts in the last couple of years. A project of IOHK, Cardano draws from different attributes of already existing cryptocurrencies like Bitcoin, Ripple and Ethereum. However, it uses a proof-of-stake/security model instead of proof of work.

Charles Hoskinson, CEO of IOHK, stated: “As markets evolve, there is an increasing need for liquidity and more sophisticated trading strategies. I’m glad to see BitMEX list ADA and hope this continues to aid our march towards becoming the financial stack for the developing world.”

Cardano is a full blockchain, created from scratch in the programming language Haskell. The heart of Cardano is powered by Ouroboros, a proof-of-stake concensus algorithm. Ouroboros is equipped with mathematical proof of security that has gone through a thorough peer review, which resulted in its approval and presentation at the renowned cryptography conference Crypto 2017.

Reports last week said that GRNET, Greece’s national research and education network, is building a pilot project that will verify student diplomas on Cardano, indicating a first use case for the blockchain.

Michael Parsons, chairman of the Cardano Foundation, declared: “This new listing is indicative of Cardano becoming a truly global blockchain platform. We are excited to see Cardano list with BitMEX. Adoption of ADA by new trading platforms is reflective of the bright future that Cardano has as a leading blockchain platform.”

The BitMEX listing of ADA is a type of fixed-date contract that lets traders to speculate on the changing value of the ADA/EBT exchange rate with up to 20 times the leverage. Traders are not required to have ADA to be able to trade the contract; it only requires bitcoin as a margin. Complete details are available on the BitMEX site here.