Why You Should Watch Out for Cardano

Why You Should Watch Out for Cardano

Altcoin Cryptocurrency
September 16, 2018 by Ramaa Mohan
9010
The cryptocurrency industry is built and has many highly specialised techies working on it. With most organizations and markets, there are many conflicts in the market which lead to forks in technology and coins. Each fork comes with its own set of protocols and each protocol has its ups and downs. But with so many
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The cryptocurrency industry is built and has many highly specialised techies working on it. With most organizations and markets, there are many conflicts in the market which lead to forks in technology and coins.

Each fork comes with its own set of protocols and each protocol has its ups and downs. But with so many people out there building protocols, it comes down to the very best to be the first best. There are many companies out there that work on protocols.

Cardano is one of them. Cardano is a distributed computing platform that is working on integrating the differences in the cryptocurrency market.

 

Cardano

Cardano is an incubatory platform, like Ethereum, that works with smart contracts and with focussing on security. The architecture of Cardano is layered with a focus on security. Cardano is built with scientific philosophy and a large group of scientists. The Cardano platform is very similar to EOS and the ETH platform.

The Cardano is also building a peer-to-peer research review community where scientists can put up their academic papers for peer-review. The Cardona network is, proudly, home to the ADA cryptocurrency.

During the development of the Cardano company had no whitepaper or roadmap. It was just a collection of ideas and thoughts that were implemented in a community. The ideas that the team is trying to integrate into the community are:

 

  • Separation of accounting and computation into different layers
  • Implementation of core components in highly modular functional code
  • Small groups of academics and developers competing with peer reviewed research
  • Heavy use of interdisciplinary teams including early use of InfoSec experts
  • Fast iteration between white papers, implementation and new research required to correct issues discovered during review
  • Building in the ability to upgrade post-deployed systems without destroying the network
  • Development of a decentralized funding mechanism for future work
  • A long-term view on improving the design of cryptocurrencies so they can work on mobile devices with a reasonable and secure user experience
  • Bringing stakeholders closer to the operations and maintenance of their cryptocurrency
  • Acknowledging the need to account for multiple assets in the same ledger
  • Abstracting transactions to include optional metadata in order to better conform to the needs of legacy systems
  • Learning from the nearly 1,000 altcoins by embracing features that make sense
  • Adopt a standards-driven process inspired by the Internet Engineering Task Force using a dedicated foundation to lock down the final protocol design
  • Explore the social elements of commerce
  • Find a healthy middle ground for regulators to interact with commerce without compromising some core principles inherited from Bitcoin

The platform is very similar to the EOS and ETH platforms. It is essentially a blockchain infrastructure project that is proofing the future of the blockchain by integrating the disconnected. The company is essentially figuring the plan out as it goes.

 

The Roadmap And Partnerships

The company does not have a roadmap as such. It is just figuring it out as the go, but the final aim of the company is clear. The company is building a platform that is building blockchain infrastructure and a peer-to-peer review for academic research and papers.

Partnerships

A company is defined by the partnerships that it makes in the first couple of years of its existence. The company has strategic partnerships and the company has partners that work together towards their goal of being the best protocol, platform and peer-to-peer network in the community.

The ADA

The native cryptocurrency coin of the network is called ADA. The ADA coin trend has been going gradually down. The coin has only ever crossed the $1 USD once in January. Since then it has been going downwards.

The highest value that the coin has ever held in the market is $1.28 USD. The current value of the coin, at the time of writing, $0.082 USD. 

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