COTI joined forces with Simplex to launch Visa debit cards and bank accounts to clients.
What is Cardano?
Cardano is a public blockchain working under the Ouroboros Proof-of-Stake algorithm. It’s touted to be the first one to have been founded on peer-reviewed research. It was founded by Charles Hoskinson – a mathematician who also co-founded Ethereum.
Cardano is also developing a smart contract platform that is supposed to deliver more advanced features than its competitors. It should serve as a stable and secure platform for developers to create enterprise-level decentralized applications (dApps).
How Does Cardano Work?
Cardano was primarily initiated as a two-layer protocol that separates the ledger of the accounted figures from the reason for which these figures are passed from different accounts.
This distinct separation lets the smart contracts (still to be deployed) on the platform be more compliant.
Cardano works through the Ouroboros Proof of Stake (PoS) algorithm. The core innovation that Ouroboros introduces beyond security is a modular and flexible design that enables the composition of many protocols to enhance the overall network functionality.
Cardano’s Token: ADA
ADA is the native token of Cardano. Interestingly, it’s named after Ada Lovelace – a 19th-century mathematician who is recognized as the very first computer programmer, also the daughter of the poet Lord Byron.
Every ADA holder also holds a stake in the network. Token holders can also delegate their tokens into a staking pool and earn rewards and participate in the governance of the blockchain.
Going forward, once Cardano’s smart contracts are live, ADA should also be usable for a variety of applications and services.
It has become one of the world’s largest cryptocurrencies, with a total supply of 45 billion.
What Are The News With Cardano in 2021?
In 2021, Cardano moved closer to integrating smart contracts on its network and continued with the new developments, in general.
On March 1st, the team launched the Mary update. It introduced core Goguen features of native token functionality and multi-asset support. On the other hand, Goguen is a major upgrade stage on the Cardano roadmap that introduces smart contracts and also the ability to build decentralized applications.
Recent Cardano News
Following the recent major announcements from Cardano, the project's commercial arm has launched a $100 million investment fund.
Cardano has announced a strategic partnership with Chainlink to provide oracle integration for smart contract developers.
Amidst the ongoing Cardano Summit 2021, IOHK founder Charles Hoskinson announced a partnership between Cardano and DISH Network, a fortune-500
After partnering with Cardano's stablecoin hub Ardana, the price of COTI has exploded to a new ATH.
It was an exciting week with plenty of important moments in the cryptocurrency industry. Here's the recap.
We follow the events of Cardano's smart contracts launch, the criticism it faced, how it was addressed, and what's to
Cardano's Alonzo upgrade is now live on the mainnet! Here's what can be expected.
Cardano is the leading network in terms of commits per month, but Ethereum still has more active developers.