Review on Cardano by Davis Marvel O'cho
Cardano wants to ensure that its blockchain remains consistent after an update.
Cardano is a blockchain-based smart contract platform. First project from scientific philosophy. Cardano is characterized by providing a secure and scalable blockchain that protects the lives of its users and while being open to regulation. With a market capitalization of over $ 1 billion, CARDANO is one of the strongest blockchain projects in the industry. In the top 20 on CoinmarketCap, the Cardano blockchain aims to create decentralized applications and contract smarts. It is associated with a cryptocurrency (ADA).
In the future, it is planned to install ATMs where the ADA can be withdrawn.
ADA will be used to transfer between individual portfolio owners as well as for the purchase of decentralized applications or the conclusion of smart contracts. Unlike many ADA cryptocurrencies cannot be undermined ie you cannot earn rewards by validating transactions.
Pros
- The particularity with ADA is that it uses few resources and therefore nobody can benefit from better technology compared to the whole community. It's a democratic network
- Cardano is the result of three companies combined. it is a heavy project stemming from university research
- Cardano is still in the development phase, it plans to integrate traditional monetary products and services into the CARDANO network
Cons
- Rough competition with Ethereum which is the second largest cryptocurrency in terms of market capitalization.
