Cardano [ADA] to Pose Great Challenge in the Future for Leading Cryptocurrencies
Revolutionize blockchain technology – the name of the target that Cardano [ADA] has set itself to reach as it entered the crypto-ecosystem. Accordingly to its mission, the team supporting the coin is fighting hard to be ahead of its competitors showcasing solutions to existing problems that various digital currencies are facing. It is no surprise this project is backed by IOHK (Input/Output Hong Kong) under the leadership of Charles Hoskinson.
The platform is a security-oriented ground base for developing distributed applications and smart contract, which is very-like the very famous second in lead – Ethereum. However, what makes it different from various other cryptocurrencies that have similarities in purpose, it is that the technology is the first project born of a scientific philosophy based on academic research.
Being one of the most enthusiastic and ambitious teams in the crypto-world, the group of individuals behind Cardano have made it very clear through statements and more so through their work that the coin is planning to go head-to-head with Ripple and Ethereum with its layer-based architecture and very advanced smart contracts.
In addition, Haskell is used as a programming language which many put down as one of the safest developing languages concluding with less errors.
Charles Hoskinson – CEO and founder of Cardano, during an interview for IB Times, revealed long term plans that could lead to grasping true scalability and interledger peer-to-peer transactions in the platforms infrastructure:
“We are probably not going to lose a lot of Byzantine resistance. These epochs that we have come up with, there’s no reason they can’t be run in parallel…”
Based on information released by the team, the platform will be headed for improving the developmental conditions in Africa. One of the major issues that is needed to be dealt with in Africa is landownership. Based on the blog, the platform is planning to prepare-up a virtual blockchain property register which using GPS coordinates will pin-point down land and accordingly the owner.
“We have started down this road, and now is the time to begin planning trial projects across countries in the African subcontinent. We aim to make Cardano the blockchain used to build land registries and much more.” – The director of African Operations at IOHK – John O’Connor
Very similar to Ripple, Cardano does take the highlight stage many times for itself. Around two weeks ago, the smart contract platform with concentration on security has announced the release of its software upgrade 1.1.0. Now, in an announcement, the team behind the technology platform have said they have addressed a number of issues users’ were experiencing with Daedalus, the platform’s cryptocurrency wallet that holds Ada, the digital currency token that Cardano runs.
“Daedalus will detect when the time on a user’s machine is out of sync with the global time and will display an error message asking the user to fix the issue. Before this feature was added when there was a time difference of 20 seconds or more, the Cardano node was unable to connect to the network and validate the blockchain, and Daedalus would be held on the loading screen with the “Connecting to network” message.”