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What is cardano crypto
Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.
The development team consists of a global collective of expert engineers and researchers. The project is jointly managed by three organisations: the Cardano Foundation, IOHK and Emurgo.
IOHK has charged itself with building the platform until 2020, at which point it will be transitioned fully to the community.
Cardano features a Proof of Stake (PoS) consensus algorithm known as Ouroboros, which eliminates the need for energy-intensive mining found in other protocols such as Bitcoin.
Cardano’s vision is to create a more equitable and accessible financial system for all, regardless of geographic location or economic circumstance. With its unique approach to decentralisation, Cardano has the potential to become the financial operating system of the world.
History of Cardano
Cardano was founded in 2015 by Charles Hoskinson, one of the co-founders of Ethereum. Hoskinson left Ethereum in 2014 after a disagreement on how the platform should be developed.
Hoskinson then went on to found IOHK, a technology company that focuses on cryptocurrencies and blockchains. IOHK is one of the organisations that helps manage Cardano.
Cardano was initially released in September 2017, with its mainnet going live in late September 2017. In November 2017, IOHK announced that it had partnered with the government of Ethiopia to explore the use of blockchain technology in agricultural supply chains.
In January 2018, Cardano announced a partnership with New Balance, a major sporting goods manufacturer, to explore the use of blockchain technology in the sneaker industry. In March 2018, Cardano announced a partnership with the University of Edinburgh to jointly research new applications of blockchain technology. In April 2018, Hoskinson announced that Cardano had formed a partnership with Metaps Plus, a South Korean fintech company, to explore the use of Cardano in the Korean market.
Cardano is currently ranked 9th on Coinmarketcap with a market capitalisation of $2.4 billion.
What are the Benefits of Cardano ?
Cardano offers a number of features and benefits that make it an attractive cryptocurrency and blockchain platform.
Some of the benefits of Cardano include:
– Decentralised : Cardano is a decentralised platform, which means that there is no single point of failure. This makes it more resilient to hacking and other attacks.
– Scalable : Cardano is designed to be scalable, so that it can handle large amounts of traffic. This is important for a platform that seeks to be used by businesses and governments.
– Sustainable : Cardano is designed to be sustainable, with a Proof of Stake consensus algorithm that doesn’t require energy-intensive mining.
– Accessible : Cardano is designed to be accessible, with a focus on providing financial services to underserved and underbanked populations.
– Innovative : Cardano is constantly innovating, with a team of experts that are constantly researching new ways to improve the platform.
Cardano is an exciting new cryptocurrency and blockchain platform with a lot of potential. If you’re looking for a platform that is decentralised, scalable and sustainable, then Cardano could be the right choice for you.
