Review on Cardano by Adedamola Adeniji
Cardano: The First Expert and Academically Driven Crypto Network and Open Source Project
Today I like to interest you to Cardano a cryptocurrency network that seeks to solve real world problems while presenting a robust alternative to Bitcoin and Ethereum. It was launched and designed by Charles Hoskins in 2
Cardano is a cryptocurrency network and open source project that aim to align blockchain platform with smart contracts
It has an internal cryptocurrency called Ada launched in 2017, one of the top ten Crypto on Coin Market Cap. It is the only blockchain that is peer reviewed and has peerless expert that are best brains in their different fields, who worked to develop it.
It has on its team engineers, academics and an Ethereum co- founder.
Cardano fast tracks peer to peer transactions with layered architecture powered by smart contracts, enabling it to be both scalable and adaptive whilst maintaining high security systems.
It is indeed a third generation blockchain that distinguish itself from the park because it is data driven and its very academic approach. These gives it the ability to establish self executing agreement that doesn't require any professional oversight. With Cardano you can with ease input any condition in your contract that you want met which has automatic execution.
Cardano's multiple layered architecture having the duo of Cardano settlement layer ( CSL) and Cardano computational layer ( CCL) give it great advantage over other blockchain platform before it that runs on a single layer with bottlenecks like network congestion, slow transaction and extremely high fee.
Premised on my research Cardano can process as much as 257 transaction per second this singlar feat puts it aged of first generation Bitcoin with just 4.6 TS and second generation Ethereum with less than 30 TPS.
I strongly recommend Cardano to you without any shadow of doubt.
Pros
- Cardano bridges the gap between the services provided by traditional financial institutions and that on the blockchain fusing them together on the digital space. Thereby making these services more inclusive, accessible and easy.
- Its multiple layers architecture namely CSL and CCL give it great advantage over blockchain platform before it that run on single layer, therefore providing solutions to network congestion, slow transaction and exorbitant fees.
- Cardano guarantees frictionless peer to peer transfer of token between users.
- With its CCL, Cardano network maintain its chain of security which deploys smart contract and equally ensure regulatory compliance with various jurisdiction.
Cons
- So far none known to me.
