Watch Video
08:00

Cardano

Watch Video
08:00

Description

What does Cardano do?

Cardano launched out of Japan in September of 2017. The project is a smart contract-based platform similar to Ethereum. Cardano is focused on security and scalability with a research-driven approach. Cardano’s team is most proud of its “scientific philosophy.” The team uses strict academic research that is verified by various experts to optimize all stages of development.

Cardano targets developers who wish to build dApps. Cardano uses a layered architecture to separate data, keeping the platform light and fast. Maintaining all data on one layer would result in blockchain bloat, slowing Cardano down. Cardano can also be used to launch new tokens.

What is ADA used for?

With Cardano’s PoS consensus mechanism, ADA (the native currency of Cardano) is used for staking. Users that wish to participate in staking can lock their ADA in Cardano’s wallet, named Daedalus. Stakers are then given the chance to earn more ADA in a lottery-type system that verifies transactions.

ADA is also used as gas on Cardano; it is paid as a fee for running decentralized apps and smart contracts. Like most other coins, ADA is a medium of exchange as well as a store of value.

How can ADA value appreciate?

New tokens can be created on Cardano the same way they are created on the Ethereum blockchain. Cardano-created tokens sold in ICOs will be paid for in ADA, which makes Cardano’s native currency more valuable and adds to its credibility.

Since ADA will be used to pay fees for running smart contracts and dApps, demand for ADA will increase (along with its price) as Cardano gains wider adoption.

What is the difference between Cardano and its competitors?

Cardano’s most celebrated advantage over its main competitors - Ethereum and EOS - is its scientific approach towards development implemented to guarantee high quality code.

Cardano promises to be more secure and provide better scalability than Ethereum by splitting the content of its stored data into different layers.

It is also worth mentioning that the software running the Cardano blockchain is written in Haskell - a functional programming language that is widely considered to be fundamentally scientific due to its mathematical roots.

  • Mainnet Launch: October 2017
  • Open Source: Yes
  • Consensus Type: PoS
  • Technology: Cardano
  • Total Coin Supply: 31,112,483,745
Reward
+ ?
REWARD
REWARD
score: 0 /100
Risk
+ ?
RISK
RISK
score: 0 /100

Our opinion

lorem ipsum dolor sit amet consectetur adipiscing elit.

Overall Rating 0.00

Idea
+ ?

Innovativeness

Is the project solving a new problem?

Feasibility

Is the project’s solution realistic?

Clarity

Does the project’s message make sense?

0.00

Team
+ ?

Core Members

How experienced and skilled are the team members?

Commitment

Are any key members involved in other projects?

Advisory Board

Is the project advised by anyone notable?

0.00

Market & Competition

0.00

Awareness
+?

Attention

Is the project on the public’s radar?

Hype

Is the general opinion of the project positive or negative?

Community

Is the project supported by a large number of crypto enthusiasts?

0.00

Coin Utility
+ ?

Usefulness

Is the project’s native currency needed for key features?

Versatility

Does the native currency have a number of different uses?

0.00

Our opinion

lorem ipsum dolor sit amet consectetur adipiscing elit

Sign up for free

Description

What does Cardano do?

Cardano launched out of Japan in September of 2017. The project is a smart contract-based platform similar to Ethereum. Cardano is focused on security and scalability with a research-driven approach. Cardano’s team is most proud of its “scientific philosophy.” The team uses strict academic research that is verified by various experts to optimize all stages of development.

Cardano targets developers who wish to build dApps. Cardano uses a layered architecture to separate data, keeping the platform light and fast. Maintaining all data on one layer would result in blockchain bloat, slowing Cardano down. Cardano can also be used to launch new tokens.

What is ADA used for?

With Cardano’s PoS consensus mechanism, ADA (the native currency of Cardano) is used for staking. Users that wish to participate in staking can lock their ADA in Cardano’s wallet, named Daedalus. Stakers are then given the chance to earn more ADA in a lottery-type system that verifies transactions.

ADA is also used as gas on Cardano; it is paid as a fee for running decentralized apps and smart contracts. Like most other coins, ADA is a medium of exchange as well as a store of value.

How can ADA value appreciate?

New tokens can be created on Cardano the same way they are created on the Ethereum blockchain. Cardano-created tokens sold in ICOs will be paid for in ADA, which makes Cardano’s native currency more valuable and adds to its credibility.

Since ADA will be used to pay fees for running smart contracts and dApps, demand for ADA will increase (along with its price) as Cardano gains wider adoption.

What is the difference between Cardano and its competitors?

Cardano’s most celebrated advantage over its main competitors - Ethereum and EOS - is its scientific approach towards development implemented to guarantee high quality code.

Cardano promises to be more secure and provide better scalability than Ethereum by splitting the content of its stored data into different layers.

It is also worth mentioning that the software running the Cardano blockchain is written in Haskell - a functional programming language that is widely considered to be fundamentally scientific due to its mathematical roots.

text