19 September, 2018
Ever since the inception of Bitcoin and Ethereum, other cryptocurrencies have been produced with new ideas to solve the problems associated with global finance. Without no doubt, one of the most important digital assets in the crypto verse is Cardano (ADA); and it is essential to know that its founder, Charles Hoskinson, is a well-renowned personality with a great vision.
A Deep Dive into Cardano (ADA)
Cardano (ADA) was created in 2015 by Charles Hoskinson, who is also the founder of IOHK. He was also the co-founder of Ethereum.
Cardano was created under the principles of scienceand blockchain. The blockchain protocol is quite new in the crypto market, but it is emerging as one of the best cryptocurrency today.
All these plans started way back in 2011 when Hoskinson initiated the idea of blockchain and cryptos. At that time, Bitcoin was the main cryptocurrency and its tool: PoW (Proof-of-Work), was the most used technique.
As a result of scalability problems and charges during the transaction, PoS (Proof-of-Stake) got introduced, and Hoskinson has made a vast improvement on PoS – creating a new advanced PoS mechanism with a consensus network called Ouroborus.
Subsequently, Cardano’s new consensus protocol, Ouroborus, was introduced to create a faster means for transactions with minimal costs. One thing worth noting is, Ouroborus consumes less energy, and it is efficient.
With this, Cardano (ADA) has been able to solve one of the main problems that Bitcoin and Ethereum have not been able to resolve, thus, making it one of the top 10 cryptocurrencies in the market today.
Furthermore, we do know that the main problems of cryptocurrencies are, scalability, interoperability, and sustainability. Cardano was created in a way that makes it distinct to solve those problems. The cryptocurrency is divided into architectural layers to offer top-notch security for smart contracts.
Cardano Reveals Uses of Marlowe
Cardano has recently revealed the uses of Marlowe – a DSL that aims to execute financial contracts. The Cardano team has stated that Marlowe DSL was created with executable small-step semantics. Indeed, this invention by Cardano is a big competitor to other cryptocurrencies that use smart contract.
Cardano Adds Great Features to Daedalus
Daedalus is regarded as one of the most beautiful cryptocurrency wallets in the world today; that is because it is one of the safest means, with powerful blockchain technology to store ADA tokens.
As part of its growth process, Cardano has decided to add more features to Daedalus. Although lots of more features are still expected to be added to it soon, Cardano team is always dedicated as it always creates new updates for its community.
For Cardano’s community, it is essential to know that new updates on the sync issues and balance overview have been released.
Cardano’s Virtual Machine, IELE
Cardano has caught the heart of lots of crypto enthusiasts, not only because it is faster and consumes less energy, but because of its IELE Virtual Machine that was launched in July. This virtual machine is efficient and offers excellent opportunities for Dapps developers.
There is only one great aim Cardano has, and that is to solve problems that Bitcoin and Ethereum couldn’t answer. The cryptocurrency is also poised to become the next generation cryptocurrency. Consequently, Cardano is also collaborating with ten tertiary institutions to achieve its global aim.
Recently, Sirin Labs, an initial coin offering (ICO) project that raised $158 million during the bull market of 2017, made the headlines for its controversial pivot from a hardware-based...
Investing in cryptocurrencies can be overwhelming and difficult, especially during periods when a bear market controls the prices. To deal with it, let's discuss...
Singapore has welcomed guests for another important crypto-event. The exhibition Block Show Asia 2018 brought numerous business contacts for LH-Crypto. The company presented new products...
When Craig Wright formed an alliance with CoinGeek founder Calvin Ayre to launch a hostile takeover of the Bitcoin Cash (BCH) network, the two men predicted that their BCH...
FIBO Group is glad to announce that the 3rd of December 2018, the leverage for all the tradable cryptocurrencies shall be increased to 1:10. The new leverage shall allow you to...
The crypto market's prolonged decline has finally begun to manifest in the bitcoin mining industry, which had at times seemed impervious to falling prices but is now...
Throughout the past eleven months, the Bitcoin price has dropped from $19,500 to $3,000, by nearly 85 percent. The dominant cryptocurrency fell by 85 percent on average...
Russian Economic Development Minister Maksim Oreshkin has stated that while bitcoin has deflated like a soap bubble, it has impacted the world...