About Cardano

Hi :)

If you're here, you're probably looking for information about the Cardano (Ada) network.

I will try to come to you a little closer to this topic. I invite you to a short reading.

Cardano is the world's first peer-reviewed decentralized blockchain solution, and ADA is the native cryptocurrency that powers the protocol. It was created by former Ethereum co-founder Charles Hoskinson.

This is one of the most ambitious and extensive blockchain projects.

The source code of the network was written completely from scratch, and the launch of the Cardano blockchain was preceded by a long process of analyzes and tests of specialists from academic circles in the fields of cryptography, mathematics and game theory, which makes Cardano very promising for the future.

The main goal of Cardano is to create a comprehensive platform for smart-contracts, tokens distributed during ICOs, decentralized applications (dApps) and value exchange using digital currency.

The creators of the project aspire to deliver the most advanced and comprehensive functions among all decentralized blockchain-based platforms available, targeting in particular major competitors such as Ethereum (ETH), Polkadot, EOS.

Ultimately, Cardano is to be a highly scalable platform, while maintaining decentralization and user safety.

The Cardano network is based on the Proof of Stake consensus algorithm

(The main advantage of the Proof-of-Stake consensus is the lack of enormous power needed to extract the next block, which means that virtually anyone can get such a block.

In addition, the lack of the need to add enormous computing power to the network means that no electricity is wasted, and thus the natural environment is saved. Another advantage of this consensus is resistance to 51% attacks.)

The ADA cryptocurrency (1 ₳ = 1,000,000 Lovelace) is named after Ada Lovelace, a nineteenth-century British mathematician and poet who is conventionally considered the first programmer in history.

The Cardano project has one of the most extensive and well-defined work schedules.

It was divided into five stages, named after poets, scientists and philosophers.

Byron's first stage is now essentially accomplished.

It consisted in improving the Ouroboros algorithm, focusing on achieving an appropriate degree of decentralization.

The second stage of Shelley is to provide, among others stackable, multisignature transactions, quantum computer-resistant cryptographic signatures, lightweight wallet, support for Ledger Nano S.

The third stage of Gougen is to develop the so-called sidechains, smart-contracts and support for other cryptocurrencies (except ADA) on the Cardano blockchain.

The last two stages, Basho and Voltaire, focus on increasing network scalability and increasing its security.

Ada can be purchased on the most famous cryptocurrency exchanges such as:

Binance, Huobi, Kraken, Bittrex, KuCoin, Crypto.com and many more.

The two official wallets for Ada are Daedalus (for Windows, Linux, macOS) and Yoroi (Chrome, Edge, FireFox, Android, iOS). Both support Ada stacking.

If you want to support the Cardano network, you can do so in many ways.

One of them is stacking Ada on one of the available pools (it's probably a good place to advertise, so I am the owner of such a pool and you can find me under the [MNIA] ticker) or you can create your own pool and join over 2,000 others pooli (I will try to write more about stacking in one of the next entries).