Cardano
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- r/cardano
- Bitcoin ETFs or not, don’t expect a ‘sexy’ crypto bull run: Concordium founderCointelegraph.com News – 11 hours agoExperts remain divided on when the next bull market is set to kick off, but they all agree on one thing: the next big rally…
- Nic Carter doubles down on theory Bitcoin was invented by NSACointelegraph.com News – 12 hours agoThe decades old ‘NSA created Bitcoin’ theory has again made the rounds on social media, with one Bitcoin advocate adding more weight to his ongoing…
- China suffers worst capital flight in years, but could it pump Bitcoin?Cointelegraph.com News – 13 hours agoChina’s capital outflows reached $49 billion in August, its highest in nearly eight years. Analysts are debating whether it could be a boon for Bitcoin…
- ‘End of an era’ — Consensys sunsets Truffle, Ganache amid shift to MetaMask SnapsCointelegraph.com News – 15 hours ago“No sugar coating this, it’s been a challenging few months,” said Truffle in a social media post on Sept. 22. Ethereum developers are gathering to…
- Binance and CEO Changpeng Zhao ask court to dismiss SEC suitCointelegraph.com News – 16 hours agoBinance Holdings, it’s U.S. counterpart and CEO Changpeng Zhao have filed motions seeking the dismissal of a lawsuit against them by the SEC. Binance CEO…
What is Cardano?
ADA is a crypto coin running on Cardano Settlement Layer (CSL) blockchain, the first and most secure blockchain based on Proof of stake mechanism validating the transactions. Cardano team calls their proof of stake mechanism Ouroboros. Unlike Proof of Work, where miners invest energy intensive computing power to mine each block, proof of stake chooses a random miner based on the size of the stake (value). In order to generate or mint a new block, a slot leader is chosen with a probability proportional to the amount of coins this node is carrying. So one of ADA’s advantages over Bitcoin, Ethereum and other similar cryptocurrencies is its energy-efficient proof of stake transaction validation system. ADA is flexible like Ethereum due to a second layer Cardano Computational Layer (CCL) which supports decentralized applications and smart contracts.
ADA was initially created by Input Output Hong Kong (IOHK), a blockchain development firm. The project was led by Charles Hoskinson who was a former co-founder of Ethereum, Etereum classic and Bitshares. Presently the ADA team consist of three organizations i.e. Cardano foundation, IOHK, and Emurgo.
The major use of Cardano is the transfer of value. Future development of applications on CCL layer can provide the easy and economical payment solution to service providers such as Uber, Upwork, and alike.