Category: Cardano

Cardano is a fully open source platform that allows multiple developers to build dApps (decentralized applications) and create DeFi (decentralized financial economy).

ADA is the official currency of Cardano, built on top of the Cardano platform for the purpose of performing Cardano related transactions.

Role of Cardano and blockchain 3.0

Cardano is an example of blockchain generation 3.0, which eliminates the involvement of intermediary organizations (third parties) and overcomes the weaknesses of previous blockchain generations.

Like previous generations, Cardano (with ADA coin) is both capable as a payment method and acts as a platform for other projects to develop, and at the same time the technology is smart to handle itself. handle problems that arise.

Blockchain 1.0 with the introduction of Bitcoin created a revolution in terms of technology. Blockchain 1.0 acts as a payment method, and allows for peer-to-peer transactions.

Blockchain 2.0 realizes that generation 1.0 only allows you to send, receive and transact. What if you want to have conditions in your trade?

From there, Ethereum was born with the new concept of Smart Contract. This means that in a transaction, the parties will alternately set the conditions for conducting that transaction, and only when the conditions are satisfied will the transaction proceed.

In fact, Ethereum operates less like a virtual currency but more like a digital ecosystem. Which based on Ethereum other virtual currency projects can work, Like software applications developed based on Apple’s iOS platform, now decentralized applications (dApps) developed based on and Ethereum.

New problems arise as more people realize the superiority of blockchain 2.0 and start using more. Cryptocurrencies need to be mined before they can be put on the market, but what if the supply doesn’t meet the demand? Mining new Ethereum will take more time and money, many people will have to wait a long time to be used.

Since then, Blockchain 3.0 was born, helping to handle the above problem. Blockchain 3.0 integrates with technology that automatically solves scaling problems if they arise.

At the same time, this generation also has a new function that is interaction between blockchains. Simply, if you have an iPhone, you can still charge it with a Samsung charger without any problems.

Cardano’s Growth Potential

With a superior team and many improved advantages compared to previous platforms, Cardano is considered to be the trend of the future.

Founding team

The creator of Cardano and one of the co-founders of Ethereum – Charles Hoskinson. Besides, Cardano also has the coordination of 3 large organizations.

Cardano is written on the Haskell programming language, which is said to be more complex and technically advanced than Ethereum.

Cardano’s team and whitepapers are super technical, written and developed by academic experts. Cardano was the first coin with an academic certificate to be accepted at the leading cryptographic conference Crypto 2017.

Advantages of Cardano

Cardano possesses 3 outstanding advantages and solves the big problems of blockchain, namely: Scalability, Sustainability and Interoperability.

Ability of extension

When it comes to scalability, you immediately think of transactions per second (TPS). But for Cardano, scalability includes three elements including Transaction Per Second, Network and Data Scaling.

Interactive abillity

Currently, there are many blockchain platforms, but these Blockchains cannot communicate and interact with each other. According to the roadmap, Cardano will have a solution for interoperability between different Blockchains after the Goguen phase (I will detail it below).

Sustainability

The sustainability of a Blockchain project is very important, the problem here is how to balance the interests of the miner/node and the project development organization, so that the project can operate stably in time. long.

Cardano Ecosystem

Cardano (ADA) is currently the 5th largest cryptocurrency by market capitalization in the crypto market. The project’s roadmap has been outlined until 2025.