Review on Cardano by Gerry Indrawan
Cardano Review
The Cardano decentralised blockchain is an open source platform which uses a proof-of-stake algorithm called Ouroboros. The algorithm has consensus generated by coin-holder voting. Slot leaders, who hold a native platform coin ADA, generate new blocks in the blockchain and confirm the transactions. The Cardano blockchain has two main layers: 1) ADA cryptocurrency which operates on the Cardano Settlement Layer (CSL), and which is a ledger supporting transactions; 2) The Cardano Computation Layer (CCL) which supports smart contracts and decentralised applications. The Cardano blockchain maybe easier to update via soft forks compared to Ethereum, which has those two layers intertwined. The two layers CSL and CCL are connected by side chains. Cardano uses the Haskell programming language with a high degree of fault tolerance. The ADA cryptocurrency is developed around a Recursive InterNetwork Architecture (RINA). The Cardano blockchain was released on 29 September 2017. The team is located in Japan, USA, and Hong Kong.
Pros
- Solid Team
- Good Projects
Cons
- Price slow run
