Review on Cardano by Othere Obtentus
The most perfectly engineered cryptocurrency
Cardano (ADA) is a public blockchain and Dapp development platform. Cardano takes lessons from Bitcoin and Ethereum and builds on their flaws. Third generation cryptos like ADA use new technologies to enhance scalability, protection, and sustainability. They generate more utility, fix flaws
and rectify inefficiencies in this way. Cardano is heavily focused
on the academic sector.
Cardano claims to be the first cryptocurrency network to come from a scientific philosophy. The architecture of the framework was developed from the ground up, using evidence-based approaches focused on empirical methodology, academic theory and completed via peer-reviewed analysis.
Until now, Ethereum has been the major figure in the field of smart contracts. Nonetheless, Cardano will be a potential future rival to Ethereum on the smart contract domain. The network combines principles such as disseminated structures, process architecture, and cryptography. Also, the cryptocurrency of Cardano is the first to be based on Haskell code, an industrial-strength programming language and uses the exclusive Proof of stake algorithm known as Ouroboros.
With its large and increasing network, it is fair to assume that Cardano will remain a staple in the blockchain field for years to come. The innovative methodology and technological innovations are expected to remain a hot subject in the sector as developments proceed. For the time being, ADA ranks among the top 15 cryptocurrencies in the world.
Pros
- Scalable and sustainable
- Environmentally sustainable blockchain protocol
- Developed using evidence-based methods
- Secure
- Open and incentivized participation
Cons
- Targets a highly competitive market
- Requires further developments and marketing
