Cardano — Crypto News
is a decentralized block platform on opensource smart contracts, launched in September 2017 by Blockchain Development Output Hong Kong (IOHK). On the basis of the Cardano platform, here is a Cardano coin — ADA — cryptocurrency, which can be bought on exchanges, such as Binance or Bittrex for an attractive price and can be stored on the Daedalus wallet.
Cardano is developed by the team headed by Charles Hoskinson, the former cofounder of BitShares and Ethereum, and is aimed at the launch of smart contracts, decentralized apps, sidechains, multipart calculations and metadata.
The platform works on the Proof-of-Stake algorithm called Ouroboros that determines how separate nodes achieve consensus in relation to the entire network. The algorithm is an important part of the infrastructure that supports the cryptocurrency ADA. According to the developers, the security level of Ouroboros is comparable with the level of Bitcoinblockchain. This is the first algorithm that passed the reviewing on the status cryptographic conference Crypto 2017.
Cardano Coin (ADA)
ADA is a cryptocurrency based on the Cardano platform. The developers believe that digital money, such as ADA, show how money will be in the future. This allows you to quickly transfer direct transmissions with guaranteed security thanks to cryptography.
To use ADA, investors must use the Daedalus wallet, which is a hierarchical deterministic, multiplatform, secure wallet designed specifically for this cryptocurrency. The wallet is easy to install, and it allows you to view everything and even search for transactions.
Until March 2018, the only cryptocurrency wallet with ADA support was the wallet Daedalus. It is available for Windows and Mac with basic functions; the release of a Linux version is also planned. The wallet supports other currencies like Bitcoin and Ethereum Classic. Daedalus is a highly secure wallet for the ADA cryptocurrency. Download and install it so you can use it to safely store your ADA. Daedalus will add more cryptocurrencies and be developed over time along with Cardano coin, to become a universal wallet, blockchain application platform and an app store.
In the beginning of March it was known that ADA added the cryptowallet Centra. For the cryptocurrency this means that it can be used now with the Centra card that had an access to 36 million terminals around the world.
Although the rate of ADA has become a little lower than its peak price in the beginning of 2018, the credit of trust from the part of such a big cryptomarket player as Centra may become a source for the new growth, as it is supposed by the analysts. An important step for this will become the full-fledged network launch, planned for the nearest future.
Cardano White Paper
In the spirit of many open source projects, Cardano coin did not begin with a comprehensive roadmap or even an authoritative white paper. Rather it embraced a collection of design principles, engineering best practices and avenues for exploration. These include the following:
- Separation of accounting and computation into different layers
- Implementation of core components in highly modular functional code
- Small groups of academics and developers competing with peer reviewed research
- Heavy use of interdisciplinary teams including early use of InfoSec experts
- Fast iteration between white papers, implementation and new research required to correct issues discovered during review
- Building in the ability to upgrade post-deployed systems without destroying the network
- Development of a decentralized funding mechanism for future work
- A long-term view on improving the design of cryptocurrencies so they can work on mobile devices with a reasonable and secure user experience
- Bringing stakeholders closer to the operations and maintenance of their cryptocurrency
- Acknowledging the need to account for multiple assets in the same ledger
- Abstracting transactions to include optional metadata in order to better conform to the needs of legacy systems
- Learning from the nearly 1,000 altcoins by embracing features that make sense
- Adopt a standards-driven process inspired by the Internet Engineering Task Force using a dedicated foundation to lock down the final protocol design
- Explore the social elements of commerce
- Find a healthy middle ground for regulators to interact with commerce without compromising some core principles inherited from Bitcoin
Cardano investment and investors
The Cardano Foundation acts as a supervisory and educational body for Cardano. Their mission:
- Standardize, protect and promote the Cardano Protocol and its applications
- Be a community center offering authoritative, timely information about Cardano’s technology and broad potential
- Maintain communication and influence government and regulatory bodies, form strategic partnerships with businesses, enterprises and other open source projects and promote the establishment of official software standards for Cardano coin, an important function for its long-term success and critical in government adoption and participation
Founded in 2015 by Charles Hoskinson and Jeremy wood, IOHK is a world — class engineering and technology company committed to using peer-to-peer innovation to provide financial services to the three billion people who don’t have them. The group has a contract for the design, construction and maintenance of Cardano until 2020.
Emurgo is a venture capital company in the Cardano ecosystem, its goal is to help integrate and implement Cardano blockchain applications.
Emurgo captures the transformative power that blockchain technology brings to the developing world. Decentralized applications built on Cardano technology, funded and supported by Emurgo, will have the potential to create innovative applications.
The entire Cardano coin team is made up of experts around the world, and the core technology team consists of Well Typed, Runtime Verification, Predictable Network Solutions and ATIX with IOHK as the team leader. External auditors such as Grimm, RPI Cryptography Group and FP Complete ensure the quality of the product by holding IOHK accountable.
The Cardano roadmap will be regularly updated, with a countdown clock indicating the next release. The team wants to hear from the community about ideas for the roadmap and are opening a channel for communication — watch for more details. The Cardano roadmap isn’t the property of IOHK, the Cardano Foundation or Emurgo. It belongs to the community. When a cryptocurrency is new it needs good shepherds to guide it, although in the future it will be fully in the hands of its users.
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Originally published at https://cryptonomad.info on June 8, 2019.