We would like to inform you that ADA/USDT trading pair is now (2021/10/13 | 06:00 PM) available on Mazdax Exchange. You can start trading now.
Cardano is a proof of stake platform based on Blockchain open source that was founded by Charles Hoskinson in 2017, who is one of the founders of Ethereum as well. Cardano was founded with the purpose of making positive changes to the world and also to make society a safer, clearer, fairer place. Competing with Ethereum was also one of the main goals for Cardano foundation.
ADA, which is Cardano’s cryptocurrency, was invented to ensure the honest participation of its holders and owners in the operations performed on the network. Holders of this cryptocurrency have the right to vote on any possible and suggested changes to the software.
Cardano is created based on Ouroboros proof of stake platform and is developed by the Haskell programming language. Cardano is one of the biggest blockchains that has successfully implemented the proof of stake mechanism. This mechanism consumes less energy comparing to the proof of work mechanism, which is used by Bitcoin.
Creating new procedures in order to confirm the transactions and creating blocks, Cardano solves the scalability issue of Bitcoin and the intelligent contracts issue of Ethereum.
This project’s main concern is to solve the scalability issue and implements the RINA technology to deal with it. The RINA technology helps Cardano to maintain the optimal speed and cost of transactions by increasing the number of transactions up to thousands per second.
Cardano’s security is guaranteed through using a multilayer architecture.
The “Shelly” upgrade was released in 2020. The purpose of this update was to decentralized its blockchain 50 up to 100 times more than other famous blockchains.
In August 2021, Charles Hoskinson announced launching “Alonzo hard fork” which significantly increased its price and put an end to the Shelly’s era, and started the Goguen era.
Trading and investing in the cryptocurrencies market demand technical knowledge and awareness. Please buy/sell crypto with caution, accuracy, and awareness. Here in Mazdax, we do our best to list the best and most popular cryptocurrencies, but we are not responsible for the potential losses of users.
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