Review on Cardano by gemma soubi
ada
Cardano is one of the new and very popular cryptocurrencies that has officially started operating in 2017. Cardano is actually a platform based on the Proof-of-Stake algorithm that provides security and convenience of digital transactions to consumers.
The Cardano currency, along with the Ada token, is designed to create more financial capacity, adhere to regulations, and search for social elements of business. In fact, Kadano is the platform on which the Ada token operates. Ada tokens have a different infrastructure than ethereum or bitcoin currencies. Unlike most publicly owned currencies in which the development process takes place voluntarily and without capital, Cardano has the financial support of the Hong Kong-based development team IOHK.
In an interview, IOHK CEO Challers Haskinson acknowledged in several interviews that the main goal of Cardano's currency is to overcome the financial and academic problems of cryptocurrencies engineers. In other words, while the developers of most cryptocurrencies are accused of collaborating with political currents or other issues, Cardano has stepped into the realm of digital currencies with a scientific-philosophical approach.
In fact, unlike the Proof-of-Work algorithm, in which the computational power is more equal to the increase in the income of the miners, factors such as coin life, number of coin, etc. are considered in the Proof-of-Stake algorithm. In fact, proof of stock instead of mining new blocks is about the validity of new blocks and transactions.
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Pros
- More financial capacity than many other cryptos
Cons
- I did not find a weakness in my research
