Being the newest blockchain and cryptocurrency, Cardano is an open source project with the most promising potential in the market. The project was launched in September 2017 after 2 years of work and already during the first week of the operation Cardano hit highest volumes of movement which obviously grabbed investors’ attention. But what makes Cardano so successful? Here are 5 key advantages of Cardano you should be aware of:
The language Cardano is coded in is called Haskell- a precise code which uses mathematical verification methods. This means that human error is completely eliminated here and the system confirms the code automatically preventing any bugs and errors.
Greatest field professionals from all over the world have been involved in the development of the most innovative project of the industry. The key objective of the team remains creating a smart contract platform which will deliver the most scalable, transparent and advanced features to digital currency fans. Cardano was founded by the co-founder of Ethereum Charles Hoskinson who invested all his lessons learnt from the mistakes and gaps of Ethereum into the greatest 3rd generation platform- Cardano.
While many similar platforms offer simple transaction from A to B Cardano gives the opportunity to add extra information and details to each transaction. Ethereum as the 2nd generation platform gives this opportunity as well however Cardano’s advantage here is that you can keep the transaction and information in separate layers (Settlement Layer and Control Layer) and decide to fill the details when relevant or necessary.
Governance by Token Holders
The governance of Cardano is based on blockchain meaning that the token holders get to decide on any modifications that may be proposed. Here is how it works: any upgrades or modifications can be proposed in the library where the ADA holders can vote for the protocol implementation. After a certain percentage of votes is obtained the modification is be implemented.
Easy to Use
One of key goals of the cryptocurrency is keeping the platform as simple as possible for both the users and developers. The own designed wallet is called Daedalus which unlike many other similar cryptocurrency wallets offers user-friendly experiences which are easy to get started with.