Ethereum killer: "The blockchain developed using a scientific approach." And yes, the blockchain in question was built by a team of scientists, engineers, and academics with the goal of developing a scalable, sustainable, and robust blockchain. Behind this reassuring message for investors is an organization working hard to develop its own blockchain. Cardano was created in 2017 by Charles Hoskinson, former co-founder of Ethereum. It is a decentralized open-source blockchain consisting of two different layers: a first layer dedicated to transactions and another dedicated to the development of applications (Dapps) through smart contracts. The founder saw Ethereum's inability to control the growth of its network while maintaining good performance. Cardano aims to offer something better than Ethereum by solving the scalability issues that its founder had identified in Ethereum. Some experts believe that this is the "third generation" blockchain. These characteristics have yet to be proven.

For its founder, the blockchain phenomenon can be compared to the emergence of Wi-Fi. In other words, just like with the internet, users will no longer care which manufacturer their equipment comes from. He therefore hopes that each blockchain will be considered as equivalent infrastructure rather than competition, as is the case today. According to its founder, the research-focused and academically rigorous approach will lead to the widespread adoption of its technology. Cardano's organization consists of three entities:

Composition of Cardano:

  • Cardano Foundation: Oversees and manages the development of the Cardano project as well as regulatory issues
  • Input Output Hong Kong (IOHK): The entity that launched Cardano and designed Ouroboros, the proof-of-stake protocol. Its goal is also to design new cryptographic tools and processes.
  • Emurgo: An entity that encourages companies, businesses, startups, and organizations to adopt Cardano

Features:

Cardano's unit of value is the "ADA" token, which allows value to be sent from wallet A to wallet B, but also to pay transaction and network usage fees. To create new blocks, Cardano uses the Proof-of-Stake (PoS) consensus algorithm, which allows transactions on the network to be validated through "stake pools."

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