Overview

20/09/18 07:32 UTC-4

The ambitious Cardano Project

Cardano's ambition
Cardano's ambition

The investment program, called Cardano, manages processes that represent the digital shell for working with smart contracts. Something similar is offered by the Ethereum infrastructure, but Cardano has a higher level of security, thanks to its multi-level architecture. The developers of Cardano tried to find compromise solutions between questions of confidentiality and decentralization of the network when working with Blockchain technology.

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Work principles

A distinctive feature of Cardano is the use of the Haskell language for the release of applications based on Blochain. The goals pursued by Cardano exclude a complete reorganization of the financial system, at the same time, the platform is aimed at working in third world countries where the development of the banking infrastructure is unreasonably expensive.

The Cardano network performs tasks in two levels, divided among themselves by a virtual register – this makes it possible to make the platform more flexible and convenient for holding contracts. The so-called calculating step of Cardano (CSL) is the basic principle of the platform. It, in fact, performs accounting calculations and transactions based on the Blockchain confirmation protocol. In addition, CSL applies consensus in the transaction algorithm.

Among other things, Cardano develops its unique Plutus programming language for implementing smart-contracts. Concern for developers is primarily related to the need to expand the functionality of Blockchain technology.

 

Capitalization

The flexibility of Cardano is based on the Proof-of-Stake methodology, which means confirming transactions by any ADA currency holder. The confirmation process does not require manual control and is automatic. To date, the number of coins in the network is approaching twenty six billion units, while it is planned to create no more than forty-five billion ADA.

In addition to Ethereum, Cardano competes with platforms such as EOS, Lisk and NEO. All of them are aimed at working with "smart" contracts, so Cardano is trying to focus on issues of scalability and protecting its coding methods.

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High level of ADA product was immediately given due to large investment associations, buying up coins on cryptocurrency exchanges. As of the first quarter of 2018, investments in Cardano are equal to nine billion dollars.

 


Summarizing, it can be confidently asserted that Cardano is a very ambitious project, able to solve serious missions at any level.

Editor: Yuliya Soroka

#cryptocurrency #blockchain #Cardano #transaction #EOS

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