Cardano (ADA coin) - Deepstash

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Cardano (ADA coin)

Cardano (ADA coin)

Claims to be a 3rd generation crypto (1st - bitcoin aka digital gold, 2nd - Ethereum, programable money). It is based on peer-reviews papers and solves 3 problems:

  1. Scalability: increase transactions/sec & decrease bandwidth.
  2. Interoperability: Cardano allows to convert other crypto and allows meta-data to be attached to transactions, making it more government or banking friendly.
  3. Sustainability: The project maintains an independent treasury founded by a % of each transaction, which acts as a VC body.

How Cardano scales transactions/sec

How Cardano scales transactions/sec

ETH biggest problems is the low transactions per second:

  1. Cardano adopts the proof of stake method. Not everyone can mine, only a few called slot-leaders. The time is broken into epochs and each epoch into slots (a short period of time in which a block can be created). The network elects a slot leader and that's the only one that can mine a slot. Slot leaders verify transactions and put them inside a block. The number of slots per epic can be varied and multiple epochs per epics can be run.
  2. Cardano splits its network into multiple sub-networks using a method called RINA. Each node will be part of a sub-network.

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CURATED BY

vladimir

Life-long learner. Passionate about leadership, entrepreneurship, philosophy, Buddhism & SF. Founder @deepstash.