Review on Cardano by Tural Ahmadli
What is Cardano?
Hello everyvone, What Is Cardano (ADA)?
Cardano is a decentralized third-generation proof-of-stake blockchain platform. While it shares characteristics and applications with other blockchain platforms like Ethereum, Cardano distinguishes itself from others through a commitment to peer-reviewed scientific research as building blocks for updates to its platform.
Three organizations are responsible for Cardano’s development: IOHK, Cardano Foundation, and EMURGO. The first two are non-profit foundations and the third is a for-profit entity. The IOHK, which is responsible for building Cardano, works with a team of academics spread out across the world to produce research and review platform updates before implementation to ensure that they are scalable.
Charles Hoskinson, the co-founder of Ethereum, began the development of Cardano in 2015 and launched the platform in 2017.3 Cardano has positioned itself as an alternative to Ethereum. Both platforms are used for similar applications, such as smart contracts, and have goals of building a connected and decentralized system. Cardano considers itself as an updated version of Ethereum and has anointed itself a third-generation platform over Ethereum’s second-generation credentials. The blockchain platform also has a goal of providing banking services to the world’s unbanked.
Pros
- Many of the positive predictions that Cardano prices will increase are due to technical reasons it offers.
- Daedalus also allows customization of specific spend passwords and transaction tracking.
Cons
- There is a possibility that it will fall in the coming days.
