Cardano has recently become the 6th largest cryptocurrency in terms of market cap, reaching above 13 billion $ (Ada token traded on US bittrex). Cardano has a great potential but it is not often mentioned in the medias. But what is Cardano?
Cardano project has been going on since 2015 and created by an early founder of Ethereum, charles Hoskinson. Cardano is actually the next generation blockchain (platform with decentralised apps and smart contracts) since it addresses the need for regulatory oversight whilst maintaining consuler privacy and protection through an innovative layered architecture, being thus a great balance between the different requirements. Cardano is based on the Haskell programming language, a more secure and stable protocol. This blockchain is based on a Proof of Stake algorithm (PoS) built specifically for Cardano, which enables much greater speed and transactionnal capacity. Besides, applications can be customised to meet the regulatory requirements of a particular use case and allows an institution to create an exclusively digital financial service with full compliance. Its originality and innovation lies in its governance scheme and own treasury system. Token holders can vote on how to change the protocol, so that every ADA (token name) holder can take part. Regarding the treasury system, a portion of the transaction fees is used for future developments.
Last but not least, this blockchain is also able to adapt and evolve (see roadmap
https://cardanoroadmap.com ) and is basically learning from Ethereum’s problems or disadvantages in order to be become a better, safer alternative, thanks to its team of scientific academicians and technicians working on it.
Even though its concept and model are innovative and addresses problems met by Ethereum, the question is, will Cardano manage to challenge its peer Ethereum?
