Since the inception of bitcoin, the world of cryptocurrency has witnessed landmark changes with new, better options that solve the challenges of bitcoin becoming popular. The main challenge of bitcoin, which had made it impossible to be accepted by the governments is the security issue. Cardano is one of its kind blockchain protocol that is programmed to enable formal verifications on each transaction guaranteeing high security and privacy for all data within its network. Ada is the first cryptocurrency that is developed using tons of peer academic research and written using the Haskell coding language. The main element of the