Here is a promising newcomer in the world of crypto currencies.
He has been in the top 10 several times lately and his capitalization is currently $ 31.13 billion.
Cardano, new Ethereum?
First and foremost, the founders of the Cardano project are Charles Hoskinson, the former CEO of Ethereum.
And in fact the two Blockchains are similar: Cardano as Ethereum allowing smart contracts.
In addition, Cardano includes a crypto currency component, the Token ADA.
Nevertheless, the Cardano has differences with his big brother Ethereum.
First, it is a Blockchain built through academic research.
In addition, apart from the white paper, Cardano developers have published a set of scientific articles explaining Blockchain technology. And these items are available to the public.
What peculiarities does Cardano have?
Cardano’s goal is to reconcile regulators and users.
Regulators desiring transparency and users of security and confidentiality.
In addition, the company offers a novelty for a cryptocurrency, it will offer its users a credit card. Thus it will be possible from the online wallet to recharge the credit card and then use it at all merchants. Because the transition from crypto currency to fiduciary money will be automatic.
In fact Cardano will be a platform of new generation smart contracts.
In summary, the International Business Times made an interesting comparison:
“If Bitcoin was a bike and Ethereum a Camry, Cardano would be a BMW.”
The new Cardano algorithm
Another important difference is that Cardano’s algorithm is a “proof-of-stake” algorithm, or proof of participation, called Ouroboros
This one is much less energetic than the blockchain using the “proof-of-work”, but remains equally sure.
It must be acknowledged that Cardano is still in its infancy.
But the Token it emits is already available on Bittrex and Binance, and can be stored on the Daedalus wallet.
It should be noted that the company has already released 31 billion ADA tokens that are available for sale.
And later it is planned to release another 14 billion.
Another interesting point, Cardano has no transaction fees.
However at the end of the roadmap there may be minimal fees charged by a central treasury
What is the Cardano team?
The Cardano Foundation, Emurgo and Input Outpuk HK support cryptocurrency.
The first is responsible for promoting and developing it.
The second is an incubator of startups whose role is to rally new businesses to the Cardano Blockchain.
The third is the project team.
Led by two former members of Ethereum, Charles Hoskinson and Jeremy Wood.
It should be noted that IOHK is also responsible for the development of Ethereum Classic.
What future for Cardano?
Will Cardano keep all its promises and achieve the performance it aspires?
It is too early to tell.
But with the team at its head and who knows perfectly competitor Ethereum, no wonder it is already part of the top 10 crypto currencies.
In conclusion, Cardano inaugurates a new generation of Blockchain.
Because it allows a restrictive control while preserving the confidentiality of the users.
In addition, it is democratically run, which will allow the project to evolve. Finally, it has a treasury with sustainable financing.
At the time of writing this review, its price has increased in one week by 205% and it is trading around $ 1.20.
Its market capitalization is 31.13 billion dollars.
Finally, this cryptocurrency has risen from $ 0.08737 to $ 1.37 at the highest level in one year.