Cardano is one of the cryptocurrencies that gains on popularity. It was launched in 2015 by Charles Hoskinson, a mathematician who is also associated with Ethereum as one of the co-founders. This crypto aims to ensure the quickest and safest way of sending money between companies or individuals. Cardano is the third-generation platform aiming to significantly improve the drawbacks of the first-generation platform (Bitcoin) and the second one (Ethereum), thus it tries to evolve scientific philosophy. Simply speaking, it uses such language that is similar to those of the military, thus it is attractive for many industries. The tokens are called ADA. The name refers to a famous 19th-century mathematician Ada Lovelace.
Cardano works on the basis of a consensus protocol called Ouroboros. Cardano is aiming to lower high fees and to save energy that is used for transactions. Also, the great option for Cardano is that all the cryptocurrencies that are not ranked in high positions of popularity can interact with each other throughout Cardano. That would not be possible otherwise. It all works on the proof-of-stake principle.
The drawback can be seen in the background of the crypto and the time it takes to agree upon something. The point is that all decisions and moves are undertaken by scientific methods. These methods are time-consuming and are not in accordance with methods usual for other cryptos.
Although it may be a disadvantage for some, it can also be an attractive form of operating cryptocurrency. Many believe that Carano has the potential to be number one in the crypto world, and it has a bright future. Nevertheless, it needs to be said that all cryptos are very speculative investments.
