What is Cardano ( ADA )

What is Cardano ( ADA )

By Snow Under Sun | SnowUnderSun | 29 Jun 2020


A series of major altcoins to introduce to newcomers in cryptocurrencies is on my wall.

 

Cardano (ADA) is a decentralized platform that enables complex programmable value transfers in a safe and scalable way. 

The development of Cardano, founded by genius Charles Hoskinson, started in 2015. Raised about $ 60 million at ICO before it was released in 2017. Hoskinson is also one of the founders of Ethereum. The development team consists of multinational expert developers.

Cardano's protocol consists of two layers: the payment layer and the control layer. 

The payment layer contains information about the accounts, while the control layer processes information about identity, compatibility, and blacklisting. 

Cardano also has a debit card and a special wallet called Daedalus. Money can be sent from the Daedalus wallet to the card, and the money on the card is automatically converted into the user's local currency.

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In addition, the Cardano team has begun work on ADA to be traded in many ATMs in Japan. One of the most prominent features of Cardano, whose abbreviation is ADA, is the Proof of Stake algorithm, which is called Ouroboros, in its protocol.

Japan's crypto ATM market is good potential but high competition market. Bitcoin, XRP, Bitcoin and Ethereum ATMs also available in Japan.

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The Cardano platform is run by 3 separate and independent organizations: Cardano Foundation, IOHK and Emurgo. The Cardano Foundation is based in Switzerland and is responsible for overseeing the development of the Cardano ecosystem.

IOHK, on the other hand, has developed a unique algorithm, Ouroboros, and carried the Cardano platform to more advanced levels. Finally, Emurgo is an organization that helps companies adopt Cardano's decentralized blockchain.

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Approximately 31 billion ADA was launched at the beginning of the project. 25.927.070.538 ADA was sold during the sale, and the remaining estimated 5 billion ADA was split between the IOHK, Emurgo and the Cardano Foundation.


Snow Under Sun
Snow Under Sun

A westerner in Thailand. Previously,13 years Sales Executive in a Forbes 500 company and 6 years HR executive in a multinational company. Crypto trader since 2015.


SnowUnderSun
SnowUnderSun

A westerner in Thailand. Crypto trader since 2015. Previously Sales Executive in a forbes 500 company.

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