Cardano Foundation: “Cardano will create a new world of decentralised applications that protect privacy whilst allowing for regulation — built on a world-class, stable, and secure platform. As the Foundation we are excited to work with governments, enterprise, and individuals to share how this technology can be used.”
Cardano is an entirely new platform and Blockchain protocol that has been released as a cryptocurrency called ADA to the market on the Exchange of Bittrex. This release took place on the 29 of September last year in 2017. This technology is looking to become the most advanced of all platforms created to up to this date and it is being to be showcased as a first generation coin with Ethereum as a second generation.
The ADA Japanese investors sale took place between September startin in 2015. It was during this phase that many coupons redeemable for ADA for distributed in the first ICO with KYC compliance.
Cardano is without a doubt a platform of contracts, similar to Ethereum. It has a focus on security through an architecture based on layers and this has proven to be quite useful. It is the first draft of the blockchain that has been created based on very serious academic research and this makes it a very attractive and viable option.
The team that has been dedicated to building Cardano has taken into account all of the important factors involved. They are trying to find a middle ground that balances the constant need for regulation with the core principles of privacy and decentralization within blockchain technology. This is meant to create a perfect balance that will give the coin the space it needs to grow.
This platform runs on Haskell, a programming language with a high degree of fault tolerance. With the future being unknown and the complexity of the blockchain-based systems. It has become very important to be able to create flexibility in these projects. It is almost impossible to know what difficulties could come to the system in the following years, but the use of Haskell is definitely reassuring of the core system stability.
The goal of team Cardano is not to review the entire financial system. The goal is to use the blockchain to carry out banking systems at places where before it used to be too expensive to implement. This is ultimately the main goal the team is aiming for at the moment.
How does Cardano work?
This coin has been based on a very specific protocol that has a core a layer that can be seen as an ideal control system. The control layer is the one that will execute the contracts, and that will be programed to recognize the identity, helping to fulfill and allow for the inclusion of black lists. This is a perfect example on how it works.
Business ventures can take advantage of this separation to adapt the design, the privacy policy and the execution of each contract to their specific use cases.
The virtual machine of Cardano is called IELE and this is considered to be more advanced than the EVM of Ethereum. The language is called Plutus, which is also a lightweight version of the functional programming language that we mntuoned before which is known as Haskell. The future is looking very bright for this coin and this is definotely making people feel encouraged and optimistic about this particular blockchain.
The general consensus of the blockchain mechanism of Cardano, known as Ouroboros has been based on an algorithm POS instead of the POW currently used by Bitcoin and Ethereum. This is the most efficient for energy levels, and allows for faster transactions together distributed governance schemes. In addition, to ensure the safety, Ouroboros has a “Proof Of Security” mathematician who has been accepted following review of various members of the academic world.
The platform roadmap for Cardano is open source and free of patents. This is in a phase of development and it is expected to be ready by 2019, so that the active version at the moment is the first generation of the settlement. During this first phase, although Ouroboros is already active, the consensus mechanism is restricted to a few private nodes.
With that said, the next version of Cardano is set to arrive in the first half of 2018 and it will be called Shelley. During this phase, the system will no longer be independent, and cryptocurrency will work with full functionality. However, many features may not appear until later stages and this can be a long wait for those who want to see it working at full capacity.
Where can I buy ADA?
You can buy ADA in some of the main platforms of exchange already. Binance and Bittrex have the largest volume of trading of ADA of exchanges and offer currency as a pair of negotiation with Bitcoin and Ethereum. This means that it has started to gain the attention of many individuals.
If you want to buy ADA in one of these two platforms, first you’ll need to buy Bitcoin or Ethereum or on another platform and transfer it. You can use GDAX or Gemini as they are both good choices to start this process. Then you will gain access to ADA purchases. ADA will also be available for purchase through a network of ATM’s in Japan shortly. Although there is still no ATM’s available, there will be 25 which will provide the token in the coming months and this is definitely good news.
Where can I store ADA
There is only a wallet where you can store your ADA right now. It’s the official wallet Daedalus, a wallet open source created by the Cardano. Currently, the wallet is only available for Mac and Windows, but it is estimated that soon will launch a mobile wallet for Android and iOS. This is a very safe wallet that you will find quite easy to use.
There is also going to be Daedalus, this is a very powerful wallet for all kinds of currencies to be accepted. This wallet will signify the beginning of the support with the main and most popular coins and this is going to green light it to move on to others.
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