What is Cardano, one of the most talked about coins of recent weeks, and why has it become popular? The coin, which has a history of only three months, has been on the rise by 6 compared to the market volume.. came to line. Cardano, 5. With the next Litecoin taking the throne, it also caught the attention of Litecoin founder Charlie Lee.. Regarding Cardano, Lee said, “How is it that a coin that is not traded for fiat money on major exchanges can reach a market cap of 10 billion dollars? Either the market is crazy or Cardano will put an end to world hunger.”
What is Cardano?
Cardano (ADA) is a smart contract platform similar to Ethereum that focuses on security through a layered architecture.
A leading Launched as the first Blockchain project built on peer-reviewed academic research by a global team of academics and engineering.
Serious competitor to Ethereum
Ethereum has dominated the smart contract space for a long time.. Since it has more advanced features than Ethereum, this dominance has the potential to change hands with Cardano, the new player in the market.
Cardano’s developers include Charles Hoskinson, the former CEO of Ethereum.. It is worth remembering that Hoskinson is a master of Ethereum’s shortcomings.
The team is building Cardona by considering the ideas of both end users and regulators.
Privacy and security based on blockchain technology. They argue that they aim to find a middle ground by balancing decentralization principles with the need for regulation.
Programming language Haskell
The platform uses the high fault tolerance Haskell as its programming language. It’s nearly impossible to know what a system might be in months or even years.. That’s why it’s important to have a robust language like Haskell that allows for a certain margin of error.. ADA is also the first cryptocurrency to use Haskell.
Unlike other crypto projects, the Cardano team’s goal is not to overhaul the entire financial system.. Their aim is to use Blockchain technology where it is very expensive to implement banking systems.. For example, developing countries…
The team has also built a wallet called Daedalus that can run decentralized applications on Blockchain.
Also, looking at the roadmap, it can be seen that it is still not fully developed.. A full-fledged Cardano requires a two-year process.
Mining algorithm Ouroboros
Cardano, which uses Ouroboros as its mining algorithm, unlike Bitcoin and Ethereum Works with proof of stake method. This provides an advantage over the proof-of-work method, which is not sustainable and increases electricity consumption to gigantic proportions.. But the downside of proof of stake is that the rich get richer.. In this method, the more coins you have, the more coins you earn.. Therefore, unfair shares may arise in the distribution of coins.
Ethereum will also leave proof of work in the summer of 2018 and switch to proof of stake.
With 2018, many important projects have been added to the project. feature will be added. Therefore, the rise in Cardano may continue in the next year.
Finally, there are currently around 26 billion ADA in circulation and this number may reach up to 45 billion.
It will be interesting to see how the project develops in the future, but Now it is not clear whether the demand for ADA is pure speculation.
How to buy Cardano?
You can buy Cardano with Bitcoin or Ethereum in your hand. Currently not possible to buy directly with Dollars. To buy Cardano, you can use Binance’, an exchange that operates with low commission fees.