Cardano is a blockchain platform with more advanced features than other protocols that have been released before. As the first to develop from a scientific philosophy, expert research teams from various countries were deliberately invited to de-construct existing cryptographic concepts, and then create something new within the scope of the Proof-of-Stake algorithm.
The results of the study are Ouroboros. Ouroboros is the core of the Cardano platform. Which means an algorithm that uses the Proof of Stake protocol to mine coins. This protocol is adjusted to reduce energy use and time to make new coins.
Many people think that Cardano and ADA are the same thing, but there are differences between the two. Cardano is a blockchain name that allows users to send and receive funds. Whereas, ADA is a term for crypto assets from Cardano.
Similar to Ethereum, Cardano is a smart contract platform. However, Cardano offers scale and security through a layered architecture. The Cardano project was started in 2015 by the Hong Kong Input-Output (IOHK). The company behind the development is managed by co-founder BitShares and Ethereum, Charles Hos-kinson.
Cardano’s concept is to create a blockchain that can do far better than an older blockchain, such as Ethereum. This allows Cardano to be able to process more transactions faster and cheaper.
Charles Hoskinson believes that Cardano is a third generation blockchain, while Bitcoin and Ethereum are the first and second. So, instead of copying other blockchain code, IOHK decided to make a new blockchain itself.
Until this video was made, there are almost 26 billion ADA that have been circulating in the world. ADA can be obtained through mining, however, Indodax is present as a place for traders who want to have ADA easily and quickly. Want to have ADA? Come on, buy now at indodax.com, and don’t forget to subscribe to our Youtube channel!