What is Cardano (ADA)
Cardano is a third-gen blockchain protocol. And has a cryptocurrency called ADA. Cardano is written in the programming language called “Haskell” and it uses a math based protocol which is more secure and reliable. Cardano is trying to fix the problems of the first- and second generation cryptocurrency’s (Bitcoin & Ethereum). As you might have know by now there are some problems in the crypto sphere. Like slow transactions, low transactions per second and clogging up of the network (crypto kitty’s) and high transaction fee’s. Cardano aims to fix these problems, think of a Ethereum on steroids.
Hence the nickname: “The Ethereum killer”
Quite a long video but it explains evreything.
Proof of Stake (POS)
The proof of stake protocol is called Ouroboros and it has been designed by an extremely talented team of cryptographers from five academic institutions led by Professor Aggelos Kiayias of the University of Edinburgh. The core innovation it brings beyond being proven secure using a rigorous cryptographic model is a modular and flexible design that allows for the composition of many protocols to enhance functionality. Proof of stake is a way to replacing miners. So in cardano you own “ADA” and now you can start creating blocks for the network.
There are three organizations that are contributing to the development of Cardano.
- The Cardano Foundation;
- an independent standards body based in Switzerland with core responsibilities to support the community of Cardano users and to work with authorities on regulatory and commercial matters.
- The second entity working on Cardano is IOHK;
- a leading cryptocurrency research and development company, which holds the contract to develop the platform until 2020.
- The final business partner is Emurgo;
- which invests in start-ups and assists commercial ventures to build on the Cardano blockchain.
Buy Cardano (ADA)
The roadmap of Cardano is quite big, to big to be listed on this website. So we redirect you to this page: https://cardanoroadmap.com/