Cardano (cryptocurrency)
| Cardano | |
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| symbol | ADA |
| Publishing year | 2015 |
| Mining | No |
| Website | www.cardano.org |
| Cardano
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| Basic data
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| developer | Cardano Foundation, Emurgo, IOHK |
| Publishing year | 2015 |
| Current version |
3.2.0 ( December 3, 2019 ) |
| programming language | Haskell |
| category | Cryptocurrency |
| License | Open source |
| www.cardano.org | |
Cardano is a block chain-based project in the field of crypto currencies , explore, which was founded with the goal to life all known current difficulties of previous block Chain currencies scientifically and solve. The project, which started in 2015, wants to completely redesign the way in which cryptocurrencies have been constructed and developed at different levels and ultimately create a decentralized platform for complex, programmable transfers of values under the aspects of scalability and security.
The team members agreed on certain basic principles right from the start, which should serve as a guiding principle during the implementation - among other things, these are scientific procedures, complete transparency, implementation with a modular and functional language , openness to official institutions and regulators and openness to sources .
If the project, which is still in its development, is successful, Cardano sees itself as the most complete cryptocurrency that has ever been created.
Cardano uses the internal crypto currency ADA as a means of payment for its transactions.
description
From the point of view of the project's founders, all previous blockchain-based cryptocurrencies inevitably encounter a number of serious problems that affect the practical usability, security, scalability and the social and economic integration of cryptocurrencies. These problems arise from the weaknesses inherent in the technical structures of established cryptocurrencies:
The world of cryptocurrencies has changed from a 1st generation, in which static payments were carried out without contracts, to a 2nd generation, in which dynamic contracts were possible (programmable smart contracts), to a third generation that is just emerging developed (worldwide scaling and legitimizing regulation).
The 3rd generation of cryptocurrencies would therefore introduce arbitrary scalability for mass use, interoperability and sustainability by learning from the mistakes of the previous generations and by implementing new technologies.
From a technical point of view, Cardano is based on several layers, each of which should offer relevant services and functions.
Scalability
Cardano would like to solve the three most important problems in this area for any scalability to mass use. This is on the one hand the number of transactions per second (TPS), on the other hand the necessary bandwidth of the network and finally the amount of data required to store the transaction information. To solve these problems, Cardano is working on a new, secure proof-of-stake protocol called Ouroboros . Among other things, Ouroboros will allow parallel, partitioned blockchains in the future and implement quantum-secure encryption . The formation of a block in the blockchain should cause a fraction of the costs that are incurred with current blockchain implementations.
Interoperability
The Cardano team sees the lack of interaction between the individual cryptocurrencies per se, as well as the lack of interaction between the external financial world and the cryptocurrencies, as a major problem. Up until now, only a number of exchange platforms were usually available at the interface between the financial world and the world of cryptocurrencies, which can exchange cryptocurrencies for fiat money and vice versa. In this respect, it has so far been very problematic to switch back and forth between the world of cryptocurrencies and the regular financial world in the context of regular business transactions and to prove the legitimacy of the transactions carried out within the world of cryptocurrencies to financial institutions and the public sector.
Cardano is therefore working on a platform that would like to allow the interaction of various types of protocols from the world of cryptocurrencies with one another and with protocols from the external financial world. For this purpose, the storage of encrypted metadata for every transaction will be sought in the future, which will store the source and other master data of a cash flow and can be disclosed to confidential agencies as evidence. Cardano would like to strike a middle path between openness to the public sector and the protection of the privacy of the participants in the network and decentralization.
In addition, the tokens of other cryptocurrencies should also be able to be used within the Cardano sidechains (side chains).
sustainability
Cardano would like to use a democratic decision-making process for all token holders to control the direction of project development in the future and finance it via a treasury , similar to the model in the Dash project.
Project
Three bodies are involved in the development of the project:
- The Cardano Foundation (non-profit foundation registered 2016 in Zug, Switzerland), with the tasks of creating and researching standards and regulations for crypto currencies, the official representation to the outside world and the development and maintenance of the community
- Emurgo (a Japanese company) which controls the commercial and investor-based portion of the project
- IOHK - a technology company that covers the technical implementation of the project
See also
Web links
- Project plan Cardano (English)
- Cardano Foundation (English)
- Official Cardano site (English)
- Project page at IOHK (English)
- github.com: Cardano Node
Individual evidence
- ↑ Release 3.2.0 . December 3, 2019 (accessed December 3, 2019).
- ^ Protocol of the Cardano Foundation. (No longer available online.) Archived from the original on October 26, 2017 ; accessed on December 16, 2017 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Introduction. Retrieved December 16, 2017 .
- ↑ Cardano (ADA) -3rd generation of Cryptocurrency. Retrieved December 16, 2017 .
- ↑ Cardano documentation. Retrieved December 16, 2017 .
- ↑ Ouroboros white paper. Retrieved December 16, 2017 .
- ↑ An adaptively-secure, semi-synchronous proof-of-stake blockchain. Retrieved December 16, 2017 .
- ↑ Interoperability. Retrieved December 16, 2017 .
- ↑ Aggelos Kiayias, Andrew Miller and Dionysis Zindros: Non-Interactive Proofs of proof-of-work. University of Edinburgh, IOHK, December 4, 2017, accessed March 12, 2018 .
- ↑ sustainability. Retrieved December 16, 2017 .
- ↑ Cardano team. Retrieved December 16, 2017 .
- ^ Cardano Foundation. (No longer available online.) Archived from the original on December 22, 2017 ; accessed on December 16, 2017 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Emurgo. (No longer available online.) Archived from the original on December 22, 2017 ; accessed on December 16, 2017 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ IOHK. Retrieved December 16, 2017 .
