The world of digital currencies is growing day by day in an impressive way, as new cryptocurrencies are released daily with interesting properties and features.
In these moments the Bitcoin, Ethereum, Litecoin are some digital currencies that have shown an important popularity; However, there are other alternatives that have gradually been opening up and attracting the attention of hundreds of people, as is the case of Cardano, a cryptocurrency that in a few weeks has experienced significant increases in its value, generating profits in those who identified in it a good commercial alternative.
What is Cardano (ADA)?
Cardano is a project that began in 2015 as an effort to change the way cryptocurrencies are designed and developed. The general approach beyond a particular set of innovations is to provide a more balanced and sustainable ecosystem that responds better to the needs of its users.
ADA is a digital currency that made its official entry into the commercial markets on October 1 of this year (2017). According to official information published on the website of the creators, the original project is the creation of a decentralized Blockchain and a cryptocurrency designed with open source.
Unlike other initiatives of its kind, the main team says it would be the first platform of its kind, which is inspired by a scientific philosophy and a more research-oriented approach
What makes Cardano unique?
This cryptocurrency that ensures that it will revolutionize the market, has the following characteristics:
- A new consensus algorithm
Cardano has not used the working algorithm that was introduced by Bitcoin, which depends on the miners, but is based on the participation test algorithm known as Ouroboros. This algorithm uses a rigorous cryptographic model that guarantees the maximum security in the platform, in addition, it allows the developers to compose many protocols that improve the functionality.
- Modular and flexible
As the number of users grows, the network and algorithms must evolve to adapt to these new users, which is why the modular structure of Cardano provides a unique opportunity for flexibility.
Ouroboros facilitates the creation of side chains and allows the network to change its method of generating random numbers that are used to protect the privacy and security of its users, in addition, it allows delegation based on user participation and provides a better structure of data.