Cardano-based DeFi routing engine, deFIRE, has raised $5 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
While the whole market tumbles with massive declines, ADA charted a fresh all-time high at $1.87.
Cardano's native crypto continues with its impressive 2021 by settling yet another all-time high - this time at $1.7.
Cardano continues with its expansion in Africa with another partnership - this time with the country of Tanzania.
Cardano (ADA) Can Now Be Bought via Credit Cards and Apple Pay After Successful Integration by Simplex
Cardano and Simplex have partnered to enable users of the latter's on/off crypto ramp to purchase the ADA token via
The University of Zurich will include a class on Cardano in its Deep Dive Into Blockchain 2021 curriculum.
Charles Hoskinson believes that baseless allegations against Cardano and other blockchain projects prevent further industry adoption.
A new algorithmic stablecoin called AgeUSD will be launched on the Cardano blockchain making it a first for the network.
Blockchain platform Cardano is preparing for its next major upgrade which will usher in smart contract capabilities through its native
Cardano aims to fight counterfeit products by enhancing traceability with the release of a blockchain-based supply chain solution.