Review on Cardano by Gabriel Medina

Name: Cardano
Item: Cardano
Rating: 5

August 30, 2020

A viable project

In the world of cryptocurrencies, scale and speed are the two most pressing concerns right now. A typical Bitcoin transaction takes approximately a few hours to get a confirmation, and with Ethereum the time is several minutes. But Cardano seeks to reduce the wait time to just seconds. That is what makes Cardano better, more scalable and robust than other platforms out there.

What is it?

Is the cryptocurrency ecosystem. It is an open source intelligent transaction platform that aims to solve the current problems of the crypto industry. It offers scalability and security under a layered architecture that gives the system flexibility and ease of maintenance and allows upgrades through soft forks. It is considered the third generation Blockchain.
Objective
The project is focused on the launch of smart contracts, decentralized apps (or Dapps), sidechains (blockchains lateral to the main blockchain), multipart calculations and metadata.
Conclusion
Cardano currently ranks as the fifth largest cryptocurrency by market capitalization, which is sure to grow in the future. The promising achievements, which the community strives to work on, are remarkable. The project they are developing will see more investors globally, which means that an increase in prices could also occur. As the crypto world grows, so will the need for more platforms globally. Ethereum may not be able to scale to accommodate everyone's transactions or decentralized application requirements. Other platforms will be needed and used, therefore Cardano will definitely be in heavy use. The technology they are currently using is much better than all the other platforms out there. With its cutting edge technology and strong backing from major companies and famous names, the Cardano coin will solidly retain its place in the top ten cryptocurrencies in the world, for the time to come.
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Pros

Confirmation protocol that removes miners.
It allows bigger and faster transactions.
It has a multilayer architecture that is one of the main advantages of cryptocurrency. This architecture allows cryptocurrency updates to be made more efficiently, safely and quickly.

Cons