Introduction:
If you have been following the media, you very well know how blockchain and cryptocurrencies are shaping up the current internet infrastructure and finding efficient solutions to long standing problems. For those of you who don't know, blockchain is kind of like a digital ledger system which keeps track of all the transactions performed through it. It is secure, transparent and decentralized – which means no one person or organization can control what happens on a blockchain network. Owing to these very properties of the blockchain, the ecosystem has grown exponentially over the last couple of years. Cryptocurrencies are one of the several use cases of the blockchain network.
One cryptocurrency on particular has changed the way blockchain development was perceived – The Ethereum. Ethereum has made it possible for developers to develop projects or deploy code on the Ethereum blockchain itself, rather than creating an entirely new blockchain network from the scratch. This has lead to an exponential increase in the number of blockchain based projects. Developers can deploy 'smart contracts' on the blockchain that can communicate with decentralized applications and produce desired results.
The Problem:
With so many projects being deployed on the Ethereum blockchain, it has led to massive scaling issues of the entire network. Transfer time as well as transfer fees have increased substantially owing to congestion in the network. This has crippled the architecture of the entire network. If a solution is not found to this problem, the whole network will crumble down under its own weight, defeating the very purpose for which the blockchain was created for. Decentralized apps, or better known as dApps will no longer be able to function in a broken network.
The Cardstack Solution:
Imagine a pack of cards. Stack each card on top of the other. Each card here is an individual entity which is placed stop some other card, and holds the weight of other cards over it. If you take out one card and keep it separately, the stack will still be there. If you break down the stack, then again each card will constitute a different entity. Now take this concept and design it on the blockchain network. That is exactly what the Cardstack Project aims to do!
The Cardstack Project aims to declutter the already cluttered blockchain network. It aims to be the first such project that addresses scalability issues within existing blockchain networks. Using the Cardstack ecosystem, decentralized applications will be able to seamlessly communicate with each other without putting the load on the system. This will help restructure the already crowded blockchain network and make scaling an easy and achievable task for the near future.
The Team:
Looking at the team of the Cardstack Project I personally feel that they are heavily focused on the product side of the project. To pull off such a mammoth task, this is what that is exactly needed. The board of advisers to the project are executives of top multinational companies and they bring in world class strategy and wisdom on the table. With multiple years of experience across several verticals I feel that this is one of the best teams that is working on a blockchain based project.
The ICO:
In order to raise funds to carry out initial development and maintenance of the platform, the Cardstack team is holding an Initial Coin Offering (ICO). Investors can buy the Cardstack coin during the Initial Coin Offering. Once the platform is live, it can be exchanged for other cryptocurrencies through major cryptocurrency exchanges.
Conclusion:
Most of the projects in the blockchain space nowadays aim to solve a particular problem or the other. Cardstack aims to provide support to the entire blockchain network system so that it can scale without any hindrance. It is trying to future proof blockchain technology. With such a strong team backing the project, I personally feel that it is one of those game changing projects that will revolutionize the blockchain space forever. The project has got everything in the right place – an amazing team and a revolutionary concept. If the team delivers the promised features within the mentioned deadlines, this might be one of the greatest Initial Coin Offerings of 2018!
Website - https://cardstack.com/
Whitepaper - https://cardstack.com/assets/media/cardstack-white-paper-v1.0.4.pdf
ANN - https://bitcointalk.org/index.php?topic=2768237.0
Telegram - https://telegram.me/cardstack
Written by - Alexanderdaniel
Profile - https://bitcointalk.org/index.php?action=profile;u=2163421
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