https://www.reddit.com/r/cardano/ coinmarketcap.com/currencies/cardano/https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer">https://twitter.com/cardanocoinmarketcap.com/currencies/cardano/https://coinmarketcap.com/currencies/cardano/ Cardano was founded by Charles Hoskinson, who was also one of the co-founders... show more
https://www.reddit.com/r/cardano/ coinmarketcap.com/currencies/cardano/https://coinmarketcap.com/currencies/cardano/" target="_blank" rel="noopener noreferrer">https://twitter.com/cardanocoinmarketcap.com/currencies/cardano/https://coinmarketcap.com/currencies/cardano/ Cardano was founded by Charles Hoskinson, who was also one of the co-founders of the Ethereum network.
What Makes Cardano Unique? Cardano is one of the biggest blockchains to successfully use a proof-of-stake consensus mechanism, which is less energy intensive than the proof-of-work algorithm relied upon by Bitcoin. Although the much larger Ethereum is going to be upgrading to PoS, this transition is only going to take place gradually.
The project has taken pride in ensuring that all of the technology developed goes through a process of peer-reviewed research, meaning that bold ideas can be challenged before they are validated. According to the Cardano team, this academic rigor helps the blockchain to be durable and stable — increasing the chance that potential pitfalls can be anticipated in advance.
In 2020, Cardano held a Shelley upgrade that aimed to make its blockchain “50 to 100 times more decentralized” than other large blockchains. At the time, Hoskinson predicted that this would pave the way for hundreds of assets to run on its network. - There is a maximum supply of 45 billion ADA — but at the time of writing, there was a circulating supply of about 31 billion. Five rounds of public sales of Cardano tokens were held between September 2015 and January 2017.
Approximately 2.5 billion ADA was allotted to IOHK once the network launched. Meanwhile, an additional 2.1 billion ADA was given to Emurgo, a global blockchain technology company that served as a founding entity of the Cardano protocol. Last but not least, 648 million ADA was given to the not-for-profit Cardano Foundation, which aims to promote the platform and increase levels of adoption.
Overall, about 16% of ADA’s total supply went to the project’s founders, with the remaining 84% being split among investors. How Is the Cardano Network Secured?
Cardano is secured through an “environmentally sustainable, verifiably secure” PoS protocol that’s known as Ouroboros.
The project says that Ouroboros improves upon the security guarantees that are delivered by a PoW consensus mechanism while using substantially less power — claiming that it is four times more energy efficient than Bitcoin.
It is described as a blend of unique technology and mathematically verified mechanisms, with behavioral psychology and economic philosophy thrown in for good measure. Overall, the objective of Ouroboros is to achieve sustainable and ethical growth.
An incentive mechanism means that participants in the network are rewarded for their involvement.