Finance:Cardano (platform)
| Cardano | |||||
|---|---|---|---|---|---|
| |||||
| Denominations | |||||
| Symbol | ₳ | ||||
| Ticker symbol | ADA | ||||
| Precision | 10−6 | ||||
| Subunits | |||||
| 1⁄1000000 | Lovelace | ||||
| Development | |||||
| Initial release | September 29, 2017 | ||||
| Latest release | Cardano SL 1.3.1 / 16 October 2018 | ||||
| Code repository | https://github.com/input-output-hk/cardano-sl | ||||
| Written in | Haskell | ||||
| License | MIT [1] | ||||
| Website | www | ||||
| Ledger | |||||
| Block explorer | cardanoexplorer | ||||
| Circulating supply | c. 25.9 Billion ((As of June 2018)) | ||||
| Supply limit | 45 billion | ||||
| Valuation | |||||
| Exchange rate | $0.076 ((As of October 2018))[2] | ||||
| Market cap | $1.96 billion ((As of October 2018))[2] | ||||
Cardano is a distributed computing platform that runs the blockchain for the Ada cryptocurrency.[3] Bittrex was the first exchange and Daedalus was the first cryptocurrency wallet that holds Ada and allowes transfers to other wallet addresses, but there are more to choose from now.[4]
Cardano blockchain was created by blockchain development firm Input Output Hong Kong (IOHK) and led by Charles Hoskinson, former co-founder of BitShares, Ethereum and Ethereum Classic, and aims to run smart contracts, decentralized applications, side chains, multi-party computation, and metadata.
Platform
Coins are minted and decisions are made via a proof-of-stake algorithm called Ouroboros[5] instead of a proof-of-work system; consensus is generated by coin-holder vote. In this protocol, slot leaders generate new blocks in the blockchain and verify the transactions. Anyone holding an Ada coin can become a slot leader.
This staking mechanism makes it unnecessary to brute force the hash code. Thus saves a significant part of the energy required by work-based systems, and allows a resource-efficient and cost-saving blockchain creation.
Layers
The Ada cryptocurrency operates on its own blockchain called the Cardano Settlement Layer (CSL). The CSL is an accounting layer and supports ledger transactions. A second layer called the Cardano Computation Layer (CCL) will support smart contracts and decentralised applications.
This multi-layer architecture allows for easier updates via soft forks than Ethereum does; in Ethereum these two layers are intertwined.
Development
Cardano was released on September 29, 2017 under the 'Byron' bootstrap phase with the official launch in Japan.
Cardano develops their currency around a Recursive InterNetwork Architecture (RINA).[6] Cardano uses Haskell, a programming language with a high degree of fault tolerance.
References
- ↑ ""Cardano LICENSE". github.com. September 17, 2018. https://github.com/input-output-hk/cardano-sl/blob/develop/LICENSE.
- ↑ 2.0 2.1 "Cardano (ADA) price, charts, market cap, and other metrics | CoinMarketCap". coinmarketcap.com. October 16, 2018. https://coinmarketcap.com/currencies/cardano/.
- ↑ Downs, Claire. "The cryptocurrency disrupted by science". The Daily Dot. https://www.dailydot.com/debug/what-is-cardano/.
- ↑ "Comparison of Ada wallets and exchanges". https://cardanowiki.info/wiki/Comparison_of_Ada_wallets_and_exchanges.
- ↑ "Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol". August 21, 2017. https://eprint.iacr.org/2016/889.pdf.
- ↑ "Bitcoin’s Smaller Cousins Are Leading the Crypto Rally". Bloomberg.com. December 20, 2017. https://www.bloomberg.com/news/articles/2017-12-20/baby-altcoins-leading-crypto-rally-as-bitcoin-goes-mainstream.
External links
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