Cardano Review (ADA): Features and Creation History

Cardano – it is a public blockchain and smart contract platform. The peculiarity of this altcoin is thatthat it is based on scientific philosophy, academic theory and peer-reviewed research.

Features of Cardano

Cardano's developers claim that the project is a digital platform built from the ground up to address some of the industry's biggest challenges and represents a third generation cryptocurrency.

Cardano addresses three pressing cryptocurrency issues: scalability, interoperability and resilience using design principles and development best practices combined with academic rigor.

Short story

The creators of Cardano – Jeremy Wood and CharlesHoskinson. Hoskinson calls himself a “cryptocurrency entrepreneur.” He also co-founded Ethereum and is the CEO of IOHK – the company that built the Cardano blockchain. It was Hoskinson who named the coin after Girolamo Cardano, an Italian polymath and physician known for pioneering systematic calculations of probability.

The ADA digital coin is named after Ada Lovelace, daughter of the poet Lord Byron – mathematician, who is considered the first programmer.

Created by Cardano

The Cardano blockchain is supported by three organizations:  IOHK, Cardano Foundation, Emurgo.

IOHK– is a scientific and engineering company withwhich has a contract to create, design and maintain its main Cardano project until 2020. IOHK provides a solution to two problems. Scientific – explores the fundamentals of cryptocurrencies, which includes theoretical issues such as the consensus algorithm and cryptocurrency privacy. The engineering side relies on theory and tries to create customized systems and cryptocurrencies using formal methodologies.

The Cardano Foundation is a non-profit organization and not only protects protocol technology, but also standardizes and promotes it.

Emurgo – is a Japanese incubator specializing in commercial ventures promoting the use of blockchain technology.

Key features

The Cardano developers have added features that make the blockchain scalable, secure, and resilient through a tiered architecture.

Key difference between Bitcoin and Cardanois that the former is a Proof-of-Work cryptocurrency, while Cardano uses a Proof-of-Stake approach.

In 2020, Cardano upgraded Shelley, the purpose of which – make the blockchain "50-100 times more decentralized" than other major blockchains. 

ADA token

ADA– this is Cardano's native token,allowing it to be used as a secure exchange of value from anywhere in the world. Every transaction is recorded securely and transparently on the Cardano blockchain.

Each ADA owner also has a stake in the networkCardano. ADAs stored in a wallet can be delegated to a stake pool to receive rewards. ADA can also be used for various applications and services on the Cardano platform.

Cardano's market capitalization is$3 535 610 387, which makes it the ninth asset in the ranking of digital currencies, ahead of Stellar. The token is currently trading at $0.113640, and the maximum price of $1.33 was recorded in June 2018.

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