Blockchains 101: Cardano
Sleeping Giant
Introduction
Cardano (ADA) is a cryptocurrency and decentralized blockchain platform allowing programmable transfers of value via smart contracts.
Cardano was released in 2017 by the Blockchain development firm Input Output Hong Kong (IOHK) Founded by Charles Hoskinson and Jeremy Wood.
Description
Cardano platform is built on a Proof of Stake algorithm (Ouroboros), determining how the consensus is achieved between the separate nodes of the network. To use the platform, participants must install the Deadelus deterministic wallet designed specifically for serving the Cardano ecosystem.
The platform relies on a layered structure with a (Cardano) Settlement Layer (CSL), (Cardano) computation Layer (CCL) and additionally the integration of Sidechains and cross-chain transactions (KMZ Framework).
The Cardano Foundation is the supervisory and educational entity of Cardano in charge of protecting, maintaining and promoting the network as well as keeping track of the regulatory environment and maintaining the community.
Smart contracts
Cardano is expected to integrate smart contracts functionalities by end 2020, transiting from Shelley to GoGuen era and opening the door for more on-chain functionalities (dApps, DeFi).
Storage and wallets
Official cardano wallet: Deadelus
Technical specificities:
- Type: Native Coin
- Total Supply: 45,000,000,000
- Subunit: NA
- Consensus: Proof of Stake (PoS)
- algorithm: Ouroboros
- Encryption: HMAC-SHA512
- Privacy: Pseudonymous (Low)
- Blocktime: 10 minutes
- Coding languages: Haskell, Plutus
- Open source: Yes
- Current version: Shelley
- Past version: Byron
- Next version: Goguen
Documentation:
- Whitepaper: https://whitepaperdatabase.com/cardano-ada-whitepaper/
- Github code: https://cardanoupdates.com/
- Official website: https://cardano.org/
- Explorer : https://adascan.net/
- Twitter account: https://twitter.com/Cardano
- Reddit: https://www.reddit.com/r/cardano/
- Wiki: https://en.bitcoinwiki.org/wiki/Cardano
Telegram community: https://t.me/TradingBull_DA
Twitter: @_Digital_Assets
