What is "Lovelace" in Cardano?
Cardano is activity dense—understandably because it continues to build, regardless of price action.
Bullish or bearish, developers are refining code, improving on present innovation. At the moment, the goal is to roll out smart contracts—making it a stiffer competitor to Ethereum and others.
Developers don't exist in isolation. As they build, they are preparing a solid ground for traders and network users alike.
And not all users or traders have the same capital muscle.
This is where Cardano's Lovelace steps in.
The smallest unit of Cardano's ADA is the Lovelace. It is the equivalent of one-millionth of an ADA.
At the time of writing, each ADA is trading at $2.1.
While many traders might overlook Lovelace—as the maximum supply will be at 45 billion, it comes in handy for small-timers who want to interact with the protocol.
The low barrier to entry with ADA's cheap valuation would make it an attractive currency for experimentation of the various features IO Global—the lead developer—plans to roll out.
ADA is available for trading at CryptoAltum.