Cardano (ADA) Coin

Cardano Cryptocurrency coin logo

What Is Cardano (ADA)?

Cardano is a new project, aimed to influence the crypto world.  Cardano is a home to the Ada cryptocurrency, which is used to get and send digital funds. This digital cryptocurrency represents the future of money, making money transferring fast, secure through the use of cryptography.

Cardano is a new technological platform, which aim is to work with various financial applications which are used by individuals, different organizations and governments worldwide.

The platform consists of multiple layers which provide the system with the flexibility to be more convenient maintained and allows for upgrades by way of soft forks.

Cardano will run apps services operated on the blockchain.

In comparison with other projects, Cardano did not start with a roadmap or a whitepaper. Instead, it collected a number of key principles which it will evolve in its work of the system.

It has engineered the following principles and avenues for exploration:

  • account and calculating separation into various levels
  • core components implementation in functional code
  • the interdisciplinary team use
  • modernization of post-deployed systems the network destroying
  • developing and improving the decentralized funding mechanism
  • improving the design of cryptocurrencies
  • involvement of stakeholders in closer access to operations and maintenance to their cryptocurrency
  • the necessity of account for several assets in the same ledger
  • learning from more than 1000 altcoins’ info to maximize the effectiveness and power of their own project
  • learning the key principles of the social trading program
  • metadata using to meet the needs of legacy systems
  • using a special basis for blocking the final design of the protocol
  • finding a healthy environment for regulators to interact with commerce

Cardano (ADA) Specification

Algorithm:

Block time:

Difficulty adjustment:

PoW:

PoS:

Masternodes:

Darksend:

InstantX:

RPC port:

P2P port:

Max coin supply:

XEVAN

60 seconds

each block (Dark Gravity Wave v3)

ends on block 259200 / 180 days

starting from block 259201

1000 XLR collateral

TX Obfuscation

SwiftTX

61020

60020

infinte

How Does Cardano Work?

Cardano will implement a system of overlay protocols built on the basis of CSL (Cardano Settlement Layer) to meet the needs of its users. CSL is a cryptographic currency which is designed by IONK Technology Company.

Benefits of Cardano SL:

  • Speed

    In comparison with fiat centrally banked currencies, digital currencies do not need bank permission to perform financial operations.  It means that the work with digital currencies is a far faster than it is with traditional (fiat banked) currencies.

  • You are owner of your account

    All the banks have their own regulations, concerning money transferring. They have to such transactions too. Nobody can get cash quickly. And it’s a big problem. Digital cryptocurrencies offer their owner a full control over money operations, allowing to spend the money at will.

  • Anonymity

    A person is able to have as many cryptocurrency addresses account as wants. All the money operations are controlled from one interface.

  • Safety and Security

    The secret key is designed to provide maximum security and safety of your money. Nobody can steal it.

  • Extensibility

    Thanks to the side-chains approach, general-purposes Cardano SL is able to “fuel” domain-specific cryptocurrencies, such as Ethereum Classic.

Designing In Layers - Cardano Settlement Layer

The value ledger is called CARDANO SETTLEMENT LAYER (CSL).  As the aim is to account for values, the roadmap predicts the next goals:

  • Support two sets of scripting languages
  • Provide support for KMZ side chains s5 for linking with other ledgers
  • Multiple user assets’ support
  • Multiple signature support
  • Achieve true scalability

What Makes Cardano SL Unique?

There are a lot of similar features between Bitcoin and Cardano SL. But there are some differences between them. As, for example, one of them: Bitcoin is a Proof of Work type cryptocurrency, while Cardano SL makes use of a Proof of Stake to reach consensus.

Cardano (ADA) Wallets

daedalus wallet logo

DAEDALUS

Cardano (ADA) Exchanges

Binance exchange logo

Binance

Bittrex exchange logo

Bittrex

Coinnest exchange logo

Coinnest

Gate.io exchange logo

Gate.io

Upbit exchange logo

Upbit

Cardano (ADA) Explorer

Proof of Stake Approach

Ouroboros is a Proof of Stake algorithm which leads to the work of Cardano SL.  It is first blockchain based protocol which is characterized by a great security guarantee.  The main goal of the Proof of Stake work leads in the node work. The node gets selected to produce a new block, equal to the total amount of the value a particular node has.

Cardano (ADA) Masternodes

ADA MASTERNODE

SUMMARY

Cardano is a new cryptocurrency project and a decentralized public blockchain.  Designed with all the valuable characteristics of inner system work, Cardano develops smart contract platform to provide more successful features that any previous protocol had.  It’s a blockchain project which is developed out of a scientific philosophy and a research-based approach.