Cardano: a flourishing exchange platform

Cardano is a company in the cryptocurrency sector, more specifically a cryptocurrency trading platform that is among the most important in its field. Take a look at this article to find out more about the platform.

What exactly is Cardano ?

Cardano is a third-generation blockchain project dubbed "the first scientific blockchain in cryptocurrency". It is an open source blockchain, but also a platform to sign smart contracts. 

The Cardano blockchain makes a token known as ADA available to its users. The creation of this crypto dates back to 2015, but its official launch was in 2017.

Cardano is powered by a group of well thought out technologies with the aim of making it a high-speed blockchain. Some of its stand-out technologies include:

• Ouroboros, the Cardano consensus algorithm. This concept is a variant of the Proof of Stake (POS) consensus algorithm. This mythical symbol has long been practiced by civilizations, alchemists, etc. This program represents the infinite cycle of things from which the name Ouroboros comes. As a POS protocol, Ouroboros offers speed, scalability, energy saving as well as maintaining security and decentralization. This protocol emits a new block every 20 seconds to the blockchain, providing a high confirmation speed. There are two implementations of Ouroboros used at Cardano: Ouroboros Praos (the current version) and Ouroboros Hydra (the next version).
• Stake pools
• Project monetary policy

Who are the founders of Cardano ?

Charles Hoskinson, co-founder of Ethereum, is the leader of Cardano. Following a disagreement over the custody of Ethereum's for-profit status, he left to launch his own cryptocurrency.

Three entities are working on the development of Cardano:

The Cardano Foundation, based in Switzerland. It is mainly concerned with 

•  Cardano project management such as growth of the Cardano ecosystem and tokens
• Legal issues such as the development of standards and trade legislation 
• The development of the worldwide Cardano community
•  Facilitating long-term partnerships

The Input-Output (IOHK), based in Hong Kong, an engineering organization whose mission is to

• Work with companies, government departments as well as academic entities to produce blockchain and crypto currencies 
• To provide technical support to Cardano and better achieve their objectives.

Emurogo, an international blockchain technology company. This entity is responsible for 

• offering reliable solutions to governments, companies, start-ups and developers;
• the implementation of a full crypto-currency wallet to ensure the security of users' ADA tokens storage. 

What is the Cardano blockchain ?

Blockchain is defined as storage technology that enables transparent and secure transmission of information. The blockchain operates without any controlling body.

Benefits of Cardano's blockchain technology

This Blockchain is considered "a trusted solution" for the following reasons: 

• It is a shared database and also a publicly accessible ledger
• It is different from traditional database technology, which is managed by a single owner, whereas in the blockchain network, participants have their own copy of the database
• The latter guarantees the absence of cheating according to the data alteration system

Cardano Token Creation

As a reminder, Cardano is an open source blockchain project, but also the only project that follows a scientific approach compared to its predecessors. Indeed, the Cardano blockchain consists of two layers. One is dedicated to settlement while the other is used for computation. 

The first layer has been developed and is already functional. Consumers can send and receive Cardano (ADA) tokens from one wallet to another. 

The second layer is under development. This layer can allow users to initiate and sign smart contracts. 

The separation of the IT layer is an advantage for ADA users. First, they can use the same currency in different countries. Secondly, they can comply with different laws and regulations.

How can you buy Cardano ?

By subscribing on Cardano's website "cardano.org", which enables you to buy, sell, trade and store Cardano crypto-currencies and other virtual currencies.

There are also several specialized online platforms where you can legally buy Cardano (ADA) tokens, such as:

•  Libertex, where you can buy ADA without a spread
• Capital.com, which enables you to take advantage of cutting-edge AI
• Coinbase, which offers the possibility of buying with PayPal

The value of Cardano (ADA) moves in real time and can be seen on most stock brokerage sites. The price is also available on sites like Google finance and Yahoo finance.