There are many dApps are active and waiting for unveil on Cardano, but which are best to invest in earler.
If you’ve somehow never heard of Cardano here’s the elevator pitch. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.
Cardano’s development is overseen and coordinated by the Cardano Foundation a Swiss non-profit which commissions various companies to do the dirty work you know the coding and stuff.
Two of these companies are Input Output Hong Kong aka IOHK and Emurgo. The former focuses on Cardano’s research and development, whereas the latter focuses on building partnerships.
The Cardano mainnet went live in late September 2017, which means we’re coming up on Cardano’s four-year anniversary. In contrast to most cryptocurrency projects, Cardano has taken a very academic approach to development with over 100 peer-reviewed research papers about revolutionary crypto technologies. Many of which have been added to its blockchain.
Cardano is still far from complete though it has met many of its major development milestones in just the last year. The most recent of these was the introduction of Cardano’s smart contract functionality on September 12th. This puts Cardano on the same playing field as other smart contract cryptocurrencies such as Ethereum, Polkadot, and Solana. Though some would argue this has always been the case.
As you’ve probably noticed Cardano’s ADA is the third-largest cryptocurrency by market cap. It has a maximum supply of 45 billion and it’s used for staking, governance, and to pay for transaction fees on Cardano.
In terms of specs Cardano’s blockchain uses a novel proof-of-stake consensus protocol called Ouroboros, which allows it to process a few hundred transactions per second. Cardano’s TPS score will grow exponentially though once the hydra scaling solution is put in place. This will allow each Cardano staking pool to process around 1,000 transactions per second.
Given that there are currently 3,000 Cardano staking pools, if hydra was implemented today Cardano would be able to handle around 3 million transactions per second.
Speaking of staking, Cardano staking is designed such that the staking rewards decline if there is too much ADA in a single pool. This encourages decentralization and Cardano has become the most decentralized cryptocurrency as a result. Read More…