Review on Cardano by Aman Arora
Cardano prooving out to be more scalable to process large transactions per second
While we wait for next blockchain that Create smart contracts with much higher speed and Low cost then Cardano network is probably the best substitute available amongst the latest developments. As we all smart contracts is an agreement between two parties without the involvement of any other third parties and those contracts are written on blockchain which in this case is Cardano.
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Cardano is the name of public blockchain with ADA is the name of native token used to process ttansactions. Although Network still requires more time to successfully integrate more projects to take the load of processing more transactions in a second with much faster speed and low transaction Cost.
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Cardano has been in news since the lauch decentralized finance system which in results congested the ether network which skyrocketed the Ether transaction cost. As a result projects and users look for substitute to Ether Network which can process more transactions securely with speed and low cost.
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Cardano is built on couple of layers with one which is use to send the native token ADA from one wallet to other and second layer is in development mode and once is it launched it will allow user to create smart contracts and this will be a bigger brealthrough for blockchain industry because once it is launched it can work way faster and cheaper than its counterpart Ether. Even though there are same developers behind the Cardano who successfully launched Ether but there is lot of benefits and drawbacks of Cardano over Ether.
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Cardano work on proof of stake algorithm where users who stake ADA cryptocurrencynare know as validators and once a transaction is verified stakers receives their staking reward which means more coins you stake more reward comes your way as compare to Bitcoin where miners solve mathematical puzzle to mine which get complex over time and requires more electricity which is no so eco friendly and that is the biggest advantage of Cardano coin over bitcoin blockchain. Cardano is scalable but still needs to improve to compete in the market as there are blockchains who can process more transactions than Cardano and that is why Cardano is looking to install 'Sharding' which means more users using the network will increase the number of transactions per second.
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Pros
- Cardano is cheap and process and more scalable than Bitcoin and Ether
- Cardano is transaparent and more eco friendly
- Cardano transactions speed per second will increase with more users using the network
Cons
- Cardano network still have lot of features wairing to be implemented which requires time and testing for longer periods
