Cardano-based NFT and DeFi platform, Spores, has secured $2.3 million from industry investors.
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
Alonzo's testnet went through a successful hardfork called Alonzo White. What's next on the way to smart contracts on Cardano?
Cardano's goals by 2026 include onboarding 50 banks, working with ten Fortune 500 companies, and having one billion users employing
Holders grow bullish over the possibilities that come with the network’s most recent update.
Grayscale announced that it has purchased Cardano (ADA), which is now the third-largest holding in its large-cap crypto fund.
The decentralized cloud computing startup plans to use the fresh capital to launch the first decentralized storage network on Cardano.
Romain Pellerin, the CTO of IOHK, talks with us about the release date of Cardano's smart contracts, energy consumption, and
Charles Hoskinson believes that ADA is superior to BTC, and Tesla should adopt it as a payment method instead of
The Ethereum co-founder said he has investments in Cardano and Polkadot because the projects are managed by goal-oriented individuals.
Crypto exchange Bitrue has provided one million ADA for staking on the 1LOVE stakepool to support Cardano's decentralization efforts.