Introduction: I have been fascinated with Cardano from the minute that I heard about it almost a year ago.
If you are not familiar with Cardano, here is a brief introduction directly from the foundations website:
Cardano is a groundbreaking proof-of-stake blockchain network, being developed into a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts. Built with the rigor of high-assurance formal development methods, Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. Cardano is designed to be the platform of choice for the large-scale, mission-critical DApps that will underpin the economy of the future.
Here is also a link to an explanation done by founder Charles Hoskinson:
Why Cardano?: I am writing about Cardano today because they have a few platforms currently in use that I find to be a possible bridge between the crypto space and the business world at large. The most notable platform they are offering for this in my personal opinion is the “Marlowe Playground”. The Marlowe playground is essentially a space where “developers” can create smart contracts on Cardano.
The reason that I put “” around developers is because the goal of Marlowe is to offer a programming language that is not necessarily code-based, but rather written “in the language of finance”. The playground allows for languages such as Haskell or JavaScript to be used but simplifies the process so that experts in a field that may not be familiar with coding, but know about finance are able to create and test contracts for their companies.
Why does this matter?: This innovative idea is part of what gives Hoskinson the ability to claim that Cardano is like the ocean of cryptocurrency where Ethereum is like a lake. Cryptocurrency has fewer barriers to entry than ever before, but many people who are getting involved know relatively little about what they are joining than the USD value that pops up on their wallet screen.
Cardano is finding a way to streamline business into the crypto world that does not require a complex understanding of programming nor cryptocurrency in general. This brilliant idea is essentially a bridge between the existing financial world and the one of the future. Without having to go and learn everything there is to know about the computer world, this platform is giving businesses a way to grow and adapt based on the knowledge they already possess.
The Future: The scalability involved in Cardano is absolutely astounding. They are attempting to become the first cryptocurrency that is fully run via staking pools operated by community members and are already over 80% of the way there.
I don’t know where the price is heading and neither does Hoskinson who is often cited getting flustered at people caring too much about the price. For Cardano it is not about the price, it is about changing the way the world operates financially. In my personal opinion, this is what cryptocurrency is all about.
Cardano is the bridge between the old and the new, will it be crossed? Only time will tell. Check out Cardano for yourself and let me know what you think about it!
Sources:
-https://roadmap.cardano.org/en/
-https://alpha.marlowe.iohkdev.io/#/
