The online world seems to be filled with ever more cryptocurrencies everyday. Some seem promising, while others may never see the light of day. Cardano is a new open source decentralised blockchain website that is home to a new cryptocurrency called Ada. With Ada you will be able to send and receive digital funds, allowing for fast and secure transactions. But this is something many cryptocurrencies boast. What sets Cardano apart from the crowd are their ambitions to be more than simply a digital currency provider.
According to their website,“Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world.”
At this time they are still developing their idea; creating their platform in layers, that will allow for easier maintenance, as well as upgrades. The first layer will be their cryptocurrency, Ada. After this, they will begin construction of the second layer, which will concentrate more on financial aspects that will contribute to future commerce and business.
What makes Cardano such an interesting new project is that the people behind are not your average programmers. Cardano has been developed by a global team of academics and engineers, all following a scientific philosophy that has held throughout the creation process. The team have done their homework and approached their project from an innovative financial perspective, as well as an academic one. The end result is an idea that has great potential and far reaching applications.
From their website, Cardano claims, “A major innovation of Cardano is that it will balance the needs of users with those of regulators, and in doing so combine privacy with regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by providing open access for all to fair financial services.”
This is a new way of looking at digital currency, that before has always had an almost antagonistic approach to anything that is considered establishment. With Cardano, they are wanting to approach their project from a logical way of thinking, of how can they create the best possible cryptocurrency for everyone. Online currencies have not gone away and seem to be heralding the future of commerce. As these currencies evolve to become the norm over the next 20 years, projects like Cardano will be at the forefront of this.
With an impressive vision of what they can accomplish and a strong philosophy behind them, driving their developmental processes; Cardano may well be a few steps ahead of the competition and are looking in the right direction. Not just the short term, but the long term needs for cryptocurrency. How to regulate and ensure the security of all crypto transactions is one of the main questions that needs to be asked of new digital currencies being developed. Cardano, with their blockchain and cryptocurrency Ada, seem to be heading in the right direction. Head over to their website if you need more info https://www.cardanohub.org/.