Cardano network presentation
Cardano is a decentralized protocol that works with a blockchain system that allows you to create free applications and formalize smart contracts, in your own Plutus language, for maximum security. The Cardano process offers more features than previously developed competitor networks and claims to be a new crypto-currency design that seeks to strike a balance between users and regulators by protecting the privacy of the former while trying to understand the demands of the second. Cardano is open-source and community-based and its layered blockchain protocol allows for flexibility and scalability.
The Proof of Stack consensus
The process uses ADA tokens. This is the first ever virtual currency that uses the Haskell code, an ultra-powerful programming language. This code is based on combinatorial logic and lamba-calculus. In the context of cryptocurrencies, it ensures the reliability of transactions. Cardano goes through a mathematical algorithm called proof of stack for block validation. The consensus is called Ouroboros and does not require excessive power consumption to validate the blocks, unlike the Bitcoin mining system.
Cardano, the Japanese Ethereum
In its operation, Cardano is closer to Ethereum and is often referred to as Japanese Ethereum. Its cryptocurrency, the Ada, is handled via the electronic wallet Deadalus. 45 billion Ada tokens were issued at the launch of the platform.
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