Cardstack Crypto: Worth Investing Or Just Another Bubble?

Cardstack is a cryptocurrency and open-source framework that aims to bridge the gap between the everyday user and the complex world of decentralised web. It is built on the foundation of shared code, data and revenue, with a focus on simplifying the creation of non-fungible tokens (NFTs), decentralised finance (DeFi) and blockchain. Cardstack's native cryptocurrency, CARD, is used to purchase credit for various software on the Cardstack ecosystem, and also to reward miners and developers. With a current supply of 6,000,000,000 CARD and a price of 0.00456964 USD as of August 2024, is Cardstack crypto a good investment?

Cardstack's price and value

Cardstack (CARD) is a cryptocurrency that operates on the Ethereum platform. It is designed to bridge the gap between everyday users and the complex world of decentralised web. Cardstack's price as of July 14, 2024, was $0.0006484 per token, with a 24-hour trading volume of $43.94K. The current circulating supply of Cardstack is 2,999,311,733.802 CARD, giving it a total market cap of $2.12M.

The all-time high of Cardstack was $0.0433, which is the highest price paid for the cryptocurrency since its launch in 2014. Cardstack is currently valued at 98.37% below this all-time high. The last known price of Cardstack is 0.00456964 USD, and it is down -9.02% over the last 24 hours.

Cardstack's native token, the Cardstack Token, is a tradable and utility token based on the ERC-20 token standard. With CARD tokens, users purchase credits to be used for various software within the Cardstack ecosystem. Miners and developers are rewarded with CARD tokens. Cardstack's suite of privacy utilities offers enhanced control over users' digital footprints, including a privacy bridge for secure interactions between blockchain networks and a crypto debit card for seamless conversion and spending of cryptocurrency.

The estimated price of a CARD token is $0.017 USD. With a total of 10 billion tokens, this gives a market cap of $170 million, or 0.04% of the total crypto market cap. 60% of the total tokens will be generated in the Token Generation Event (TGE), and of these, 40% will be offered to the public in three rounds. The remaining 40% will be minted over the next 10 years and allocated by a smart contract to makers and miners providing services on the platform.

The Cardstack ecosystem

A key feature of the Cardstack ecosystem is its revenue and reward protocol. It facilitates on-chain revenue collection and reward distribution for the usage of Web2 apps and Web3 dApps. This automation streamlines payouts to decentralized infrastructure (DePIN) services, including web hosting, file storage, and AI inferencing. The protocol also includes the Cardstack Token (CARD), an ERC-20 token used for monetizing apps via smart contracts and rewarding miners and developers.

Cardstack's security measures

Cardstack is a comprehensive decentralized platform that employs a range of security measures to ensure the protection of its users' data and assets. Here is an overview of Cardstack's security features:

Technical Security Measures

Cardstack utilizes a range of technical tools to safeguard transactions and personal information. This includes the use of chip and PIN technology and address verification, which provide a secure foundation for transactions. Additionally, the CARD Protocol is a vital component of the platform's security infrastructure, ensuring the integrity and security of the platform. Cardstack also employs two-factor authentication (2FA), which requires users to provide two different types of information to access their accounts, significantly reducing the risk of unauthorized access.

Cold Storage Solutions

Cardstack protects users' assets by employing cold storage solutions. By storing cryptocurrencies offline, the platform mitigates the risk of theft from online hacks. This ensures that the majority of users' assets are kept in a secure environment, away from potential online vulnerabilities.

Protection Against DDoS Attacks

Cardstack also prioritizes protection against Distributed Denial of Service (DDoS) attacks. These security measures are designed to prevent or mitigate the impact of attacks aimed at overwhelming the platform with traffic, which could potentially disrupt services and compromise security.

Hardware Wallets

For users seeking an additional layer of security, Cardstack supports the use of hardware wallets. These devices provide a secure way to store and manage cryptocurrencies, offering physical security features that further protect users' assets.

CARD Token Security

The Cardstack ecosystem's native utility token, CARD, is designed with security in mind. CARD is an Ethereum-based ERC20 token with a maximum supply of 10 billion. To encourage early participation, Cardstack will mint and allocate an additional 4 billion tokens over ten years, which will be staked and distributed to active makers and miners. This incentivizes participation while also ensuring the security and integrity of the token distribution process.

In summary, Cardstack prioritizes security by employing a multifaceted approach that includes technical, organizational, and physical security measures. These measures work together to ensure the safety of transactions, protect personal information, and safeguard users' assets on the Cardstack platform.

Cardstack's history and team

Cardstack was founded in 2014 by Chris Tse, a technologist and designer with a degree in Computer Science from Columbia University. Tse has been working to humanize blockchain technology since its early days and has over a decade of experience leading R&D and innovation teams for Fortune 500 companies. He is also a co-founder of the blockchain companies Monegraph and Dot Blockchain Media.

Cardstack is a composable open software ecosystem that aims to bridge the gap between everyday users and the complex world of decentralized web. It is built on the foundation of shared code, shared data, and shared revenue, allowing developers to concentrate on creating, reusing, and extending domain models. Cardstack's framework is designed to be extensible, with each layer being open source, allowing users to understand how all the layers function together.

The platform is particularly focused on privacy, offering a range of privacy utilities such as a privacy bridge for secure interactions between different blockchain networks, and a crypto debit card for seamless conversion and spending of cryptocurrency.

Cardstack has a native cryptocurrency, CARD, which operates on the Ethereum blockchain. This cryptocurrency facilitates transactions within the Cardstack ecosystem and is designed to create a sustainable marketplace where open-source developers are rewarded fairly.

Since its inception, Cardstack has navigated through several milestones and challenges, including a security breach in 2014 and a hard fork in 2017. A pivotal moment for the company was the unveiling of its roadmap, which outlined its plans to create the first collaborative operating system for Web3.

How to buy Cardstack

Cardstack (CARD) is a cryptocurrency that operates on the Ethereum platform. It is designed to bridge the gap between the everyday user and the complex world of decentralised web and blockchain technology. Cardstack is not currently available on Coinbase for trading, but it is available on the Coinbase wallet. Here is a step-by-step guide on how to buy Cardstack:

Step 1: Set up an account on a Cryptocurrency Exchange

To buy Cardstack, you will first need to sign up for an account on a cryptocurrency exchange platform that supports CARD. Some popular options include Crypto.com and Coinbase. These platforms typically require you to provide personal information, verify your email address, and set up a secure password.

Step 2: Fund your Account

Once your account is created, you will need to deposit funds into it. This can be done by linking a bank account, using a credit or debit card, or even depositing other cryptocurrencies that you may already own. The specific deposit methods available will depend on the exchange you choose.

Step 3: Place a Buy Order for Cardstack (CARD)

After your account is funded, you can place a buy order for Cardstack. Navigate to the market or exchange section of the platform, find the CARD trading pair (such as CARD/USD or CARD/BTC), and enter the amount you wish to purchase. You can either place a market order, which will buy CARD immediately at the current market price, or a limit order, which will only execute your purchase if CARD reaches a certain price.

Step 4: Manage your Cardstack Holdings

Once you have purchased Cardstack, you can decide whether to keep it on the exchange or withdraw it to a private wallet. If you plan to hold CARD as a long-term investment, consider storing it in a secure hardware wallet for added protection.

Step 5: Stay Informed and Consider the Risks

As with any investment in the crypto space, it is important to conduct thorough research and stay informed about Cardstack's price movements, news, and market sentiment. Keep in mind that the cryptocurrency market is highly volatile, and the value of your investment may fluctuate.

By following these steps, you can purchase and start investing in Cardstack. Remember to always assess your financial situation and risk tolerance before investing, and consider diversifying your portfolio to manage risk effectively.

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