Cardano (platform)

Cardano

| Cardano logo |

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Cardano logo| Ada coin symbol
Denominations
Symbol| ₳
Ticker symbol| ADA
Precision| 10−6
Subunits|
​1⁄1000000| Lovelace
Development
Initial release| September 29, 2017; 8 years ago (2017-09-29)
Latest release| Cardano SL 1.3.1 / 16 October 2018 (7 years ago) (2018-10-16)
Code repository| https://github.com/input-output-hk/cardano-sl
Written in| Haskell
License| MIT [1]
Website| www.cardano.org
Ledger
Block explorer| cardanoexplorer.com
Circulating supply| c. 25.9 Billion (as of 20 June 2018[update])
Supply limit| 45 billion
Valuation
Exchange rate| $0.076 (as of 16 October 2018[update])[2]
Market cap| $1.96 billion (as of 16 October 2018[update])[2]

Cardano is a distributed computing platform that runs the blockchain for the Ada cryptocurrency.[3] Bittrex was the first exchange and Daedalus was the first cryptocurrency wallet that holds Ada and allowes transfers to other wallet addresses, but there are more to choose from now.[4]

Cardano blockchain was created by blockchain development firm Input Output Hong Kong (IOHK) and led by Charles Hoskinson, former co-founder of BitShares, Ethereum and Ethereum Classic, and aims to run smart contracts, decentralized applications, side chains, multi-party computation, and metadata.

## Contents

* 1 Platform
* 1.1 Layers
* 2 Development
* 3 References
* 4 External links

## Platform

Coins are minted and decisions are made via a proof-of-stake algorithm called Ouroboros[5] instead of a proof-of-work system; consensus is generated by coin-holder vote. In this protocol, slot leaders generate new blocks in the blockchain and verify the transactions. Anyone holding an Ada coin can become a slot leader.

This staking mechanism makes it unnecessary to brute force the hash code. Thus saves a significant part of the energy required by work-based systems, and allows a resource-efficient and cost-saving blockchain creation.

### Layers

The Ada cryptocurrency operates on its own blockchain called the Cardano Settlement Layer (CSL). The CSL is an accounting layer and supports ledger transactions. A second layer called the Cardano Computation Layer (CCL) will support smart contracts and decentralised applications.

This multi-layer architecture allows for easier updates via soft forks than Ethereum does; in Ethereum these two layers are intertwined.

## Development

Cardano was released on September 29, 2017 under the 'Byron' bootstrap phase with the official launch in Japan.

Cardano develops their currency around a Recursive InterNetwork Architecture (RINA).[6] Cardano uses Haskell, a programming language with a high degree of fault tolerance.

## References

1. ↑ ""Cardano LICENSE". github.com. September 17, 2018. https://github.com/input-output-hk/cardano-sl/blob/develop/LICENSE.
2. ↑ 2.0 2.1 "Cardano (ADA) price, charts, market cap, and other metrics | CoinMarketCap". coinmarketcap.com. October 16, 2018. https://coinmarketcap.com/currencies/cardano/.
3. ↑ Downs, Claire. "The cryptocurrency disrupted by science". The Daily Dot. https://www.dailydot.com/debug/what-is-cardano/.
4. ↑ "Comparison of Ada wallets and exchanges". https://cardanowiki.info/wiki/Comparison_of_Ada_wallets_and_exchanges.
5. ↑ "Ouroboros: A Provably Secure Proof-of-Stake Blockchain Protocol". August 21, 2017. https://eprint.iacr.org/2016/889.pdf.
6. ↑ "Bitcoin’s Smaller Cousins Are Leading the Crypto Rally". Bloomberg.com. December 20, 2017. https://www.bloomberg.com/news/articles/2017-12-20/baby-altcoins-leading-crypto-rally-as-bitcoin-goes-mainstream.

## External links

* Official website
* Community wiki
* Block Explorer
* GitHub Page

* v
* t
* e

Cryptocurrencies

Technology|

* Blockchain
* Cryptocurrency tumbler
* Cryptocurrency exchange
* Cryptocurrency wallet
* Cryptographic hash function
* Distributed ledger
* Fork
* Lightning Network
* Smart contract

Consensus mechanisms|

* Proof of authority
* Proof of space
* Proof of stake
* Proof of work

Proof of work currencies|

| SHA-256-based|

* Bitcoin
* Bitcoin Cash
* Counterparty
* MazaCoin
* Namecoin
* Peercoin
* Titcoin

|

Ethash-based|

* Ethereum
* Ethereum Classic

Scrypt-based|

* Auroracoin
* Bitconnect
* Bitcoin Gold
* Coinye
* Dogecoin
* Litecoin
* PotCoin

Equihash-based|

* Zcash

CryptoNote-based|

* Monero

X11-based|

* Dash
* Petro

Lyra2-based|

* Taler

Other|

* Primecoin
* Verge
* Vertcoin
* Zcoin

Proof of stake currencies|

* Gridcoin
* EOS.IO
* Nxt
* Steem
* Tezos

ERC-20 tokens|

* Aragon
* Augur
* Aventus
* Basic Attention Token
* Centra
* Kin
* KodakCoin
* Minds
* Power Ledger

Other currencies|

* BitShares
* Filecoin
* Libra
* NEM
* NEO
* Ripple
* Stellar
* Tether

Related topics|

* Airdrop
* BitLicense
* Blockchain game
* Complementary currency
* Crypto-anarchism
* Cryptocurrency bubble (2018 cryptocurrency crash)
* Digital currency
* Double-spending
* Initial coin offering
* Initial exchange offering
* Initiative Q
* List of cryptocurrencies
* Stablecoin
* Token money
* Virtual currency

* Category
* Commons
* List

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