The Cardano Blockchain is perhaps one of the most interesting projects in the blockchain and cryptocurrency platform in recent years. This smart contract platform is very much similar to Ethereum.
What makes Cardano stand out from the rest is that it has better security and offers scalability. Following the success of Ethereum as a smart contract platform, newer additions in the blockchain industry need to do better. Cardano for one has done this remarkably especially with its ability to handle the amount of focus. Cardano is handled by 3 major parties which are:
- Cardano Foundation
Background of Cardano
The man responsible for Cardano is Charles Hoskinson. He is one of the co-founders of ETH or Ethereum. To date, the 3 parties involved are fully involved in maintaining Cardano. The Cardano Foundation is actually a non-profit organization. It is a regulated organization fully responsible for Cardano. Its job is to ensure that the Cardano Protocol technology is standardized, protected and well promoted. Hoskinson and Jeremy Wood will in 2015 establish Input Output Hong Kong, or IOHK. This company is already contracted to maintain Cardano until the year 2020 while continuing its efforts in research and development. Meanwhile, Emurgo is the main company that funds IOHK. This was put together in a 5-year contract.
Cardano is in the middle of the action involving 3 generations of the blockchain.
- The first is the one involving Bitcoin and transfer of money. This is at a time when people wanted to transfer funds without using any intermediaries.
- The second was when Ethereum and Smart Contracts came about. While the first generation created the technology, it is in Smart Contracts that such a phenomenon becomes possible
- Cardano forms the third generation. This is where the positive factors of the first 2 generations were taken into consideration and enhanced to evolve into Cardano. As such, Cardano can now offer sustainability, scalability and interoperability
If Ethereum made such an impact after Bitcoin, Cardano is set to make another after Ethereum.