The Decentralized Cloud Network for Communication Services
I am bullish on Cardano, do not take my words as financial advice.
Like many other projects in the early days, Cardano was funded through a US $62.2 million initial coin offering. The currency debuted with a market cap of $600 million. By the time writing this article, the total market capitalization of ADA is $44 billion.
The team behind Cardano is led by Charles Hoskinson, a former co-founder of BitShares and Ethereum. The game plan appears to be a general-purpose blockchain enabling advanced smart contracts, decentralized apps, sidechains, multipart calculations, and metadata.
Consider how the landline cable, for example, provides the infrastructure for us to have access to the internet, to surf the web, call each other, and use apps to transfer money around the world. Cardano could be able to enable similar services in the future, and that is on the blockchain.
That may sound very similar to other blockchain projects, especially Ethereum, but Cardano also has its unique approach. Since the beginning, the blockchain is set to build with “peer-reviewed research and developed through evidence-based methods” that is using traditional academic methods to create the highest level of certainty in its technicality. Cardano is far beyond most project interns of both quantity of people and quality of work.
When you look at the governance of the project, it is obvious that Cardano has unmatched capabilities ranging from technical development to commercial operations. That also fosters the inclusivity of the blockchain.
On the community front, the Foundation works to accelerate adoption and collaborations, expand the Cardano group internationally, form legislation and commercial standards, and ensure stakeholder transparency at all levels.
On the technology front, IOHK has been commissioned to design, install, and manage the Cardano platform. The firm is a pioneer in the development of distributed computing systems and decentralized technology solutions who also build Ethereum classic.
EMURGO is a founding partner and handling the commercial front of the Cardano blockchain. It creates, funds, and incubates commercial opportunities while also assisting companies in integrating into our blockchain system. EMURGO, Cardano's for-profit arm, seeks to advance the platform and accelerate acceptance through commercial projects.
Cardano has one of the most active communities with a cult-like culture. The initial vision to build an advanced science-proof blockchain and commercially feasible at the same time has gained significant traction.
One of the reasons why Cardano can build such a vibrant community is because of its staking mechanism. In fact, the required minimum ADA law and the aggregate staking delegation have enabled both seasoned and newcomer to join the network.
A primer for you: Staking can be put as putting the money into the bank while the bank uses the money for financial activities, Cardano blockchain uses staked assets to maintain the stability and engagement of the network. The more staked ADA, the better.
I consider ADA as one of my safe bets because its performance shows stability and certainty. Furthermore, many of the investment thesis refers to the blockchain as the internet in the 90s, I am also a believer in that reference. What is important in the early days is the infrastructure that is sufficient enough for the ecosystem to grow, I believe the Cardano blockchain will be the landline for the decentralized internet.
Disclaimer: This article is for informational purposes only and in no way constitutes investment advice. Please be sure to do your own thorough research before making investments of any kind.
Also published on: https://namnhutdinh.medium.com/my-review-on-the-cardano-blockchain-4ef11bdd80dc
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