Cardano (ADA): the scientific 3.0 blockchain
Cardano soon got a nickname you won’t easily forget: the Ethereum killer. This blockchain is seen as an improved version of Ethereum, where from the beginning more attention was paid to the scalability, the transaction costs and the technical possibilities on the blockchain itself. However, it is comparing apples to oranges. Ethereum is blockchain 2.0, developed after Bitcoin which is a clearly blockchain 1.0 because it’s only about the coins. Cardano is a 3.0 blockchain development, in which the experiences of the previous versions have been accumulated into a technologically better platform.
The scientific foundation of Cardano (ADA)
Cardano has a completely different foundation than other cryptocurrencies and it is a mouthful: Ouroboros. It is a scientific system in which arithmetic experts constantly look for issues or leaks. To verify transactions, Cardano uses a variant of the Proof of Stake (PoS) protocol, as is common with blockchain 3.0. However, Cardano has a clear plan in the roadmap to develop this into a democratic system. In the future, all people who have ADA in their wallet can vote on important decisions that will have to be made for the blockchain.
A long list of technological advantages
For the average cryptocurrency user, the technical plans of Charles Hoskinson’s team are not something to get excited about. The roadmap until 2021 mainly consists of decentralization and optimization, and yet Cardano (ADA) can become the most important player in the cryptocurrency market.
The most important functionality will be implemented in early 2020. At that time, the smart contracts will be added to the blockchain, next to which a universal framework will be built so that all blockchain technologies can work together with Cardano. You read it correctly: Cardano wants to be the blockchain that can support, supplement and integrate all possible blockchain applications. If this succeeds, Cardano will be the superior chain that is suitable for everything.
Immediately after this comes the Basho upgrade, which will further improve the security of the network, and the Voltaire upgrade, which will enable governance and how new plans can be added to the roadmap from then on.
Is Cardano interesting and what does it offer for the future?
When Cardano (ADA) is able to deliver on its promises and can make the plans come true (and that is more than likely with the current collaborations and active community that is available), the role of Cardano as application platform will increase tremendously from the first quarter of 2020. The plans that exist go much further than being the ‘Ethereum killer’. Cardano can become the blockchain with which all developers, applications, companies and users will work because it can be connected to all current and all future blockchains.
We are certainly not that far yet. It’s easy to see that the potential is great. Worldwide there is a lot of talk about this blockchain, the market capitalization is relatively high (especially for a project under construction) and the further developments progress, the more laudatory words are spoken about Cardano. This seems an inevitable development, because the scientific basis and the high level of security are quite unique in the world of crypto-currencies.
This is without a doubt a currency to keep an eye on or to add to your portfolio now before the price of this currency goes through the roof.