Review on Cardano by Stephen Toluwani
A third Generation cryptocurrency with issues of solving real time problems
Cardano is another crypto project that can be wowed due to what it offers. As a third generation cryptocurrency, Cardano brings to life, equitable solutions to human problems via it's virtual state. From my research, The use cases of Cardano has been basically refined to settle in on Academia but keeps evolving being an open source system to embrace other areas of development. It's major use cases I outline here are some major ones Cardano offers which many users will see fit to use:
1. Credentials Certification and Verification which allows users to securely store academic certificates on an immutable and tamper-proof ecosystem. The arm responsible for this is called Atala PRISM. Now speaking of how this goes into helping us in the real world, we get to have our certificates free from the burdens of having to store them physically and create problems like fire hazards that will lead to loss of the certificates or storing in a bank vault which incurs cost. Also being stored on a blockchain, it can be easily accessed in times of need and verified by organization that needs it. This real time use case of what Atlas PRIME offers show the strength in which Cardano is building in offering what it gives users.
2. Counterfeiting Product problems are solved by Atlas SCAN which leverages blockchain technology to prove a product auditability as being original. In my research in how this works, codes verified by the company are attached to the product and can be scanned using Atlas SCAN to prove if it's number matches that of what was released from the company and can be mutated after confirmation to prevent copying by a counterfeit product. This real world use case helps eliminate costs, reduce risk and further reduces Counterfeiting.
3. Supply Chain Tracking with Atala Trace and this use case helps agricultural farmers and processing industries to keep track of their incoming goods
4. Digital Identity via Atala PRISM helps keep user identity proof which can be used in KYC situations and more.
All this use cases makes Cardano a onestop blockchain for solving real time problems. I have interacted with it's speed of transactions and the security of its network is second to none. It's a great project which I really hope garners enough adoption as this will help reduce costs in our everyday life and bolster ease of doing things.
Pros
- Cardano is a third generation crypto project that leverages blockchain technology and computating from past cryptocurrencies failures in speed and use, creates a more efficient network that settles real world use case in it's virtual system
- Cardano is seen as a major contender with the Ethereum project as it's a platform that supports Smart Contracts creation, Dapp development and even Side-Chain building. It contends with Ethereum in terms of speed and cost
- Cardano creates its own Proof of Stake algorithm called Ouroborous Protocol, a more secured way of protecting it's network which randomly selects block validators over time to create blocks and receive rewards
- Cardano is more scalable as transactions areade at incredible speeds and it's blockchain is able to handle millions of transactions per second. It even offers an interoperable system by using it's KEVM which is a variant for the Ethereum Virtual Machine and allows both blockchains to communicate with each other
Cons
- There has been none so far
New products
Comments (3)
April 29, 2021
CARDANO is a cryptocurrency, currently it can do very nice things in the future. Also, don't forget to add new information features when you improve your blog, ie review. Thank you very much for sharing your comments. Other than that, this feature is very useful and accurate. I'm glad to thank you again for your feedback.
February 12, 2021
The Cardano project has a lot of good uses that when Incorporated to use by the world in general, will be something to always be in high demand. The extensive features you have outlined in the project are true but adoption will be something hard
January 26, 2021
Cardano is a project that can do very good things in the future. Don't forget to add new information when you update your review, and as I told you, I would be very happy if you corrected your missing information. Thank you for sharing your information. Also, the features you mentioned are really very accurate, and thank you for that.
