Crypto-currency of Cardano (ADA). Race for leadership | Business Biceps

Recently agency Weiss Ratings published rating cryptocurrency of their investment attractiveness. The second position in the top ranked cryptocurrency Cardano. I suggest to understand what this cryptocurrency what its features and whether it can overtake its main rival – Ethereum, in 2018.


In late 2017 Cardan rapidly broke into the top 20 cryptocurrency capitalization and became one of the most profitable cryptocurrency last year. And at the moment Cardano already occupies the 6th place in the Top. At the time of this writing, its rate is $ 0.396955 per 1 token.

The official website of Cardano beautifully stated that cryptocurrency created at the intersection of philosophy, programming and engineering. ICO this currency was carried out in 4 stages, from September 2015 to January 2017.

Cryptocurrency unit – ADA,and its minimum value of one millionth of the ADA, called Lovelace. This is a tribute, from developers cryptocurrency first computer programmer – Ada Lovelace August.

Who are the developers? Who is behind cryptocurrency ADA?

Cardano – a collaborative project involving three “key” companies.

His immediate engaged in the development technology company – IOHK. This company, founded by the notorious Charles Hoskinson (co-founder cryptocurrency Ethereum), specializes in blockchain technology.

The promoter of this project is to Cardano Foundation, (Cardano Foundation) located in Switzerland, and he is responsible for the strategic moments of the training, supervision and standardization of the coin.

And company, Emurgo which is responsible for the development of commercial applications that are based on Cardano.

And yes, the project is indeed implemented with the assistance of scientists of the three universities: Athens, Edinburskogo, as well as the University, located in Connecticut.

Cardano development

It should be noted that this coin is the third generation of cryptocurrency. It combines the reliability of Bitcoin, the speed and scalability of ether. In its activities Cardano uses algorithm Proof of Stake called Ouroboros, and wallet on the resource Daedalus. Cardano development consists of three epochs.

  1. Testnet era
  2. Bootstrap era
  3. Reward era

Testnet era passed stage, the system is set in the test network.

Bootstrap era at this stage the system is at the moment. Bootstrap era implies that only the upper layer network to be deployed within the main network. At the same time, it is much centralized for security. What is interesting, the algorithm Proof of Stake Ouroboros does not provide compensation for miners to find a new block. From this we can understand that in contrast to the same Bitcoin, Cardano technologies are at an early stage of its development. At this stage, investors can only perform simple transaction tokens ADSs. Subsequently, on the basis of blockchain Cardano, they will be able to create smart contracts.

Mining of Cardano

In order to Cardano mining, you must have at least 1% of tokens for mining. Given the capitalization of the project – $ 10 billion to Mein Cardano you have to invest in this cryptocurrency at least 10 million dollars. What raises more questions to centralize cryptocurrency. As for transactions, they are supported by miners, random network. For the creation of each new block in 2000 ADA is paid a fee of which 75% goes to the owner of the purse (random Miner confirming the transaction), and 25% goes to fund Cardano.

Ouroboros algorithm

Ouroboros is an algorithm of mining Proof of Stake for Cardano. This name is very aptly emphasizes the essence of the Proof of Stake – own case, an generates itself.  

According to the statement IOHK – Ouroboros is the first algorithm Proof of Stake, which is protected against all types of attacks. They even had a mathematical modeling of these attacks on the Ouroboros. The results can be found here, on the official website IOHK.

Already scheduled update algorithm, the so-called Ouroboros Praos,whose main task will be scaling the network.

Another plus of the algorithm – the side chains, they significantly extend the capabilities of the main chain can be centralized and quickly perform some specific functions. However, the main problem of side chains – it is their security.

Also of note is the bandwidth Cardano network. Currently, she is 15 transactions per second. For example, it is at the Ethereum 7 transactions per second. According to Charles Hoskins, capacity Proof of Stake algorithm, in this case, Ouroboros, lets you skip even more than 200 transactions per second.

Another technology that will be implemented in the near future – is the technology of writing and execution of smart contracts. To do this, at the moment, developed a virtual machine Cardano. At the time of this writing, it is ready for 35%. To track its progress and the progress of other innovations you can on the official website Cardano tab”Roadmap”.

So, what do we have?

Cardano – it is quite strong and ambitious cryptocurrency and Ouroboros very interesting implementation of the algorithm Proof of Stake. And, of course, do not forget the fact that behind this cryptocurrency is very powerful development team.

Results will be released tokens 45 billion, of which 57.6% was realized in the course of ICO, where the project has collected 62 million dollars, has 11.5% is located in Cardano founders reserve – it Cardano fund IOHK technology company and a commercial organization Emurgo. And the remaining 30.9% will be paid as consideration for the transaction confirmation Cardano network.

At the beginning of February 2018 there was news that Cardano is listed in cryptocurrency that can be stored on the hardware purse Ledger. In this case, investors will be able to protect their assets. Also, in 2018 the company plans to implement a debit card and put 25 ATMs in Japan.

According to influential people such as Fred Shebesta, cryptocurrency Cardano in 2018 could reach $ 5 rate for 1 token. And then, its growth will be approximately 700% over the year.

Buy this cryptocurrency you can on the stock exchanges: Upbit, which accounts for 79% of the trading volume cryptocurrency Cardano, and Bittrex and Binance.

I would like to end this article quote Charles Hoskins: “This is not a sprint, it’s a marathon.” These words inspire confidence in the fact that Cardano is delayed for a long time in the TOP cryptocurrency. Of course, investing in this cryptocurrency should be considered in the long format, however, as well as investing in any other coin.

Invest in the future today with Business Biceps!

 

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