Cardano — an open-source cryptocurrency project — is taking a pragmatic approach to blockchain platform development. It’s betting that its “scientific philosophy” and peer-reviewed research will yield infrastructure unmatched in scalability and efficiency.
So far, Cardano already boasts a market cap of just over $1 billion and ranks 12th among all cryptocurrencies, just about two years after it was founded by Charles Hoskinson, a co-founder of Ethereum. Cardano’s currency is called Ada, which can be bought, sold or traded through digital currency exchanges.
Despite calling itself a decentralized public blockchain, the current iteration of the Cardano blockchain is quite centralized, with transactions on the network processed by a federated group of validators across three organizations. These entities, the Cardano Foundation, Emurgo, and Input Out Hong Kong (IOHK), are currently contributing to the creation of an upgraded, public version of the platform. The new version, dubbed “Shelley,” is a much-anticipated public Proof-of-Stake-based — or PoS — chain that is designed to be more scalable and decentralized than its current iteration.
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**DISCLAIMER**: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
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