Just so happens that I'm a huge fan of Cardano. Here's a blog I wrote about it a few months ago Cardano
- Cardano is peer reviewed by legitimate sources and aims to be the most secure next generation crypto-a big reason why it's taking so long.
- By being peer reviewed, Cardano isn't a scam, it aims to build value in the long run through its cryptographically secured dual layered coin. Some projects have the unit of account token and the smart token, Cardano combines these two functions, albeit in separate layers, it's a unique concept.
- Dual layers as mentioned above, also Cardano is programmed in Haskell which provides flexibility and allows for a high degree of fault tolerance. This language allows Cardano to still operate if there are failures in the coding. Critical sectors like banks and the Defense industry often use Haskell for it's ability to work during failures. Haskell makes Cardano more adaptable at working with third party applications
- Team is decent; Charles Hoskinson: The lead Cardano developer and a former CEO of Ethereum and BitShares. He brings much skill and experience to the team. Hoskinson co-founded the engineering firm IOHK which works on the development of Cardano and was also behind the Ethereum Classic hard fork. The road map simply wants to get everything to work, a be number one, not that thrilling but ambitious nonetheless.
- Cardano is somewhere between IOTA and EOS. It isn't as revolutionary as IOTA aims to be but it is more next generation than EOS plans to be. If Cardano succeeds with its dual layers and manages to get enough people to support it, it will remain a top crypto currency and could overtake a few bigger ones.
I dont et the dual layer. Can u eyplain how this is established?
also can u eyplain how the consus mechanism work in a bit more detail?
Cardano Settlement Layer (CSL)The CSL acts as the balance ledgerand is the first layer of theplatform. Created as an improvement toBitcoin, this layer is a cryptocurrency built from the whitepaper“Ouroboros: A Provably Secure Proof of StakeBlockchain Protocol”by Aggelos Kiayias.TheCSLuses aproof-of-stake consensus algorithmto generatenew blocks and confirm transactions.The roadmap for the CSL is as follows:
1.Two sets of scripting languages
1.One set to move value
2.One set to enhance overlay protection support
2.Sidechains to link to other ledgers
3.Multiple signature types including quantum resistant signatures
4.Multiple user-issued assets
5.Scalability in which the capabilities of the system increase as more users join
Cardano Computation Layer(CCL)TheCCLis the second layer of the Cardano platform andcontains the information on why transactions occur.Because the computation layer is detached from the CSL, different users of the CCL can create different rules when evaluating transactions.For example, you could create a permissioned ledger that leaves out any transactions that don’t include AML/KYC data – something that will become more important as blockchain regulation continues to increase.
Regarding the dual layers; one is for accounting and the other is for computing. No other crypto currency has a dual layer system. You can mess around with the programming layer and not affect the accounting layer. For example Ethereum has proven to be a great blockchain for dApp programming but it has been terrible to send money around as Steemit, NEO, XLM and others do it in seconds, Ether can take hours, Cryptokitties clogged the network. Everyone and transaction on Ether is equally valued, there is no priority except by spending gas but anyone can spend more gas even if they aren't heavily invested.
Cardano can assign more value to higher priority, more valuable transactions and a lower value to something less important, more expensive to maintain or something which isn't necessarily legal. This ties into the condenses model where more valuable users would hold more stakes than less valuable users. The proof of stake is also how they reach consensus, whomever has more is more likely to create the next block. No wasteful mining.
Edit: the dual layer has already been established, from the start. Cardano layers are similiar to the TCP/IP protocol layers of the internet. Having one layer is really unsecure, it's better to have two or more as other layers can function perfectly fine, while the other layer is being upgraded or worked on. Just imagine the likelihood of the us military ever sharing a blockchain with Cryptokitties- that's Ethereum.