Cardano is a Blockchain protocol which aims to be a smart contract platform, launch decentralized applications, tokens, and all the other features we expect from these types of projects.
It seems like we have heard the same pitch a thousand times before.
But Cardano has one distinction. It is the first major protocol built as a Proof of Stake(PoS) from the ground up.
It also follows a more disciplined research philosophy. All of the papers the Cardano Foundation prepares are peer-reviewed using academic standards.
This is unlike a project like Ethereum, where many researchers across the globe modify it without a clear central direction.
This could be intentional since Charles Hoskinson once was part of the Ethereum foundation and left it. The event leads to the creation of Cardano and its formal pursuit of research.Also Read: A Candid Explanation of Bitcoin The start of Cardano
Cardano is the effort of Charles Hoskinson. He wanted to create a new type of Blockchain, which was PoS from the start, built around formal methods of investigation, and implementation.
In order to achieve that, he created three entities with different duties: IOHK, Cardano Foundation, and Emurgo.Input Output Hong Kong (IOHK)
It was founded in 2015 by Charles Hoskinson and Jeremy Wood. According to their website: “IOHK is a world-class engineering and technology company committed to using peer-to-peer innovations to provide financial services to three billion people that don’t have them.
The group is contracted to design, build, and maintain the Cardano platform through to 2020.”
Their mandate to develop Cardano expires this year, but since there have been a few delays, it is expected that it will be extended.
The company not only develops exclusively for Cardano. They have worked on projects using Ethereum, Ethereum Classic, and other work for hire, but since 2019 they focus solely on Cardano and i...