![]() ![]() Although the much larger Ethereum is going to be upgrading to PoS, this transition is only going to take place gradually. ![]() Over 100 smart contracts were deployed in the following 24 hours after the launch.Ĭardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.Ĭardano is one of the biggest blockchains to successfully use a proof-of-stake consensus mechanism, which is less energy intensive than the proof-of-work algorithm relied upon by Bitcoin. 12, 2021, the Cardano ‘ Alonzo’ hard fork officially launched, bringing smart contract functionality to the blockchain. In August 2021, Charles Hoskinson announced the launch of the Alonzo hard fork, causing Cardano price to surge, gaining 116% in the following month. The team behind the layered blockchain say that there have already been some compelling use cases for its technology, which aims to allow decentralized apps and smart contracts to be developed with modularity. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software. The ADA token is designed to ensure that owners can participate in the operation of the network. The native ADA token takes its name from the 19th century mathematician Ada Lovelace, widely regarded as the world’s first computer programmer. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” - helping to create a society that is more secure, transparent and fair.Ĭardano was founded back in 2017, and named after the 16th century Italian polymath Gerolamo Cardano. To learn more about this project, check out our deep dive of Cardano. Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. ![]()
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