Cardano Fact Sheet

Cardano

The cryptocurrency used on the Cardano Platform is called Ada.  While many call Cardano a cryptocurrency it is really a computing distribution platform.  Cardano's platform is designed to run smart contracts, decentralized applications, side chains, multi-party computation, and metadata.

Name: Cardano

Ticker: ADA

Website: https://www.cardano.org/en/home/

White Paper - Philosophy: https://www.cardano.org/en/philosophy/

White Paper - Academic Papers: https://www.cardano.org/en/academic-papers/

Code Hub:  https://github.com/input-output-hk/cardano-sl

Founder: Charles Hoskinson,

Date Created: Sep 2017

Structure:  - Decentralized utilizing a Peer to Peer Network

Written In:  Haskell

Source Model: Open Source

Total Max Cardano Outstanding Possible: 45 Billion current supply as of April 2018 is approximately 26 Billion.

Block Time: 14-15 seconds on average

Mining:  Yes - For proof-of-Stake,

Background:

Cardano is the brainchild of the IOHK group and founder of Ethereum Charles Hoskinson.  He sees Cardano as a Gen 3 cryptocurrency.

Cardano uses a Proof of Stake algorithm called Ouroboros to create new blocks. Any coin holder can become a slot leader. This means that machines engaged in Cardano are using their power for other functions instead of brute forcing hash codes.
Daedulous is the wallet designed to hold Ada/ Cardano.

Part of the design of Cardano is to avoid hard forks when holders of the coin disagree on the path forward.  In other currencies this has led to splits where one part of the coin holders will move forward with one version of code and another group with another.  Cardano's cryptocurrency ADA has two layers the first is the Cardano Settlement Layers also known as the CSL.  The CSL supports ledger transactions and is basically the accounting appartus.  The other layer is the Cardano Computation Layer also known as the CCL.  The CCL supports smart contracts and decentralized applications.  By having the two layers instead of intertwining the functions Cardano is attempting to create an easier architecture to update via softforks then compared to Ethereum.

Cardano also uses algorithms called Sidechains to unite the two layers.  Cardano is also looking at sidechains for uniting and creating transaction capabilities between ADA and other cryptocurrencies as well as other finance transactions.

Other Cardano Links:

IOHK website - https://iohk.io/

Charles Hoskinson Twitter


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