Ethereum killer: “The blockchain developed using a scientific approach”. And yes, the blockchain in question was built by a team of scientists, engineers and academics with the objective of developing a scalable, sustainable and robust blockchain. Behind this reassuring talk for investors is an organization deploying its efforts to develop its own blockchain. Cardano was founded in 2017 by Charles Hoskinson, ex-cofounder of Ethereum. It is an open-source decentralized blockchain consisting of two different layers: A first layer dedicated to transactions and another dedicated to the development of applications (Dapps) through smart contracts. The founder had seen in Ethereum the inability to control the rise in power on its network while maintaining good performance. Cardano’s ambition is to offer better than Ethereum by solving the scalability problems that its founder had detected in Ethereum. Some experts believe that it is the “third generation” blockchain. Characteristics that have yet to be proven.
For its founder, the phenomenon of blockchains can be compared to the emergence of Wi-Fi, in other words, like the Internet, users will stop worrying about which manufacturer will come from their equipment. Thus, he hopes that each blockchain will be considered as equivalent infrastructures and not as a competition, as it is the case today. The approach focused on research and academic rigor will, according to its founder, to bring about the mass adoption of its technology. Three entities make up the Cardano organization:
Cardano
Foundation: Oversees and manages the development of the Cardano project and regulatory issues Input Output Hong Kong (IOHK): Entity that propelled Cardano and designed Ouroboros the proof of Sake protocol. The objective is also to design new cryptographic tools and processes. Emurgo: Entity that encourages companies, startups, organizations to adopt Cardano
Features:
Cardano’s unit of value is the “ADA” token, which allows to send value from wallet A to wallet B but also to pay transaction and network usage fees. To create new blocks, Cardano uses the Proof-of-Stake (PoS) consensus algorithm, which allows to validate transactions on the network through stake pools….
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