Review on Cardano by Olugbenga Ajayi
Cardano Ouroboros
Cardano, known as Japanese Ethereum was founded by Switzerland registered Cardano foundation. The aim of this project is to build on the strengths of Bitcoins and Ethereum and address their scalability and decentralized voting issues. Cardano is an open source system. With the target of building a platform for smart contract that can take care of enterprise level usage, they developed Ouroboros as a proof of stake mechanism. Cardano decided to separate the accounting of value from the reasons for moving the value. Hence the project consists of the Cardano settlement layer (CSL) and the Cardano computational layer (CSL) which are connected by a new sidechain protocol called KMZ to move value between the two layers.
Pros
- Code was created from scratch
- Proof of stake validation
- Designed by credible team
Cons
- Fraud in proof of stake
- Unproven and untested platform.
