Cardano is Smoking or Vision the Future

Cardano is Smoking or Vision the Future

By xuanling11 | Crypto Learning | 14 Sep 2021


Cardano founder Charles Hoskinson wants to eliminate the need for CEOs and Presidents. Why Cardano is so optimistic about its future or are they smoking hard?

 

What is Alonzo?

It is a network that is similar to the Ethereum network. However, there are 6 main stages to help the network implement.

 

Byron - The Foundation

It is a core code of Cardano that allows users to exchange currency and mine currency through the Proof of Stake consensus algorithm. It is so-called the Layer 1.

 

Shelley - The Decentralized Network

It is a stage people set up nodes and host their own to build up a network system. It is a Layer between 1 and 2.

 

Goguen - The Smart Contract

It is a stage of the network that allows developers to build and run decentralized applications. It is a Layer 2.

 

Basho - The Scale-Up Function

It is a stage of the network that helps to scale up and process more transactions. It is a Layer 2.5.

 

Voltaire - The Political System

It is a stage where the network performs self-sustaining governance through voting and treasury system. 

 

Where is Cardano at?

Cardano is at stage 2 Shelly where it starts its DApps.

 

Two becomes one

Cardano also has its own hard fork combinator that combines Byron and Shelley together into one ledger to ensure a smooth transition between two phases. It will avoid potential split chain and cause network error.

 

3 Colors Stages

Alonzo has 3.2 color-coded phases: Blue, White, and Purple with post phases of Red and Black.

 

Alonzo Blue: a stage to test bugs and fixed Alonzo

Alonzo White: a stage increase features and users

Alonzo Purple: it will have two small stages, light purple is for simple smart contract implementation and dark purple is for more complex smart contract implementation.

Alonzo Red and Black: there are stages reserve to continue testing and increasing users  

 

Apart from Ethereum

Remember Ethereum hotfix to avoid chain split on nodes, Cardano is trying to avoid such paralyze of network with carefully implementation stages.

 

Current status

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There are about 150 lives projects and there are more than 800 on the line to prepare departure.

 

No Need of CEOs and Presidents

If Cardano hits the last stage with wide adoption of its political system. It is possible that CEOs and Presidents will lose their jobs. But for now, it seems like a pipe dream.

 

In conclusion

It is possible Cardano may eventually change how companies or even nations operate. However, it is a long road to go. Plus, Ethereum is doing a much better job here.


Photo by awar kurdish on Unsplash

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