Investment in cryptocurrency – Cardano (ADA).
“Cardano (ADA) will be valuable because of the huge amount of work, the possibility of real world application and a pragmatic platform.
My goal is not to enrich day traders. My goal is to change the world! ”- Charles Hoskinson Founder of Cardano.
Outlook. Cardano (ADA) is not a simple cryptocurrency, but a whole platform. Its true meaning will be felt when applying decentralization throughout the world. Cardano’s forecast from analysts – 2020 will be a breakthrough for ADA.
By its capabilities, it can compete with ether and neo. In 2019, the creators of this currency will complete work on it and move on to its development and popularization. Promotion will begin with the end of work on the mainnet. Cardano platform was created to introduce a cryptocurrency economy into the modern market.
Эфир – это монета второго поколения с расширенными возможностями интеллектуального контраста и способностью создавать токены. Алгоритм сэкономит энергозатраты и обеспечит гораздо более быстрые транзакции.
Cardano is an ADA digital token that has the ability to send and receive money in digital form. If the developers succeed in achieving the objectives set, the project has sufficient potential for organizing money transfers with high speed and cryptographic protection.
It should be understood that the Cardano platform is not a classic cryptocurrency. This project serves as a specialized and high-tech platform, the use of the capabilities of which allows for financial transactions of different values. The platform works with individuals as well as with organizations and government agencies.
The structure of the platform includes several layers, which provides flexibility and versatility of application. Also due to this organization of work, the introduction of new functional solutions by soft forks is significantly simplified. After the development of the main working layer “from above” is completed, a new layer is superimposed on it, which is intended for working with smart contracts. These are the digital legal agreements that underpin the future financial operations.
Cardano uses a high degree of decentralization in its work. The platform will launch decentralized blockchain-based applications. In fact, the system is a blockchain, within which you can conduct numerous transactions, as well as impose new services on them. At the same time, the procedure for introducing new services has been simplified – after the main layer has been formed, other layers are automatically superimposed on it, on which the same services exist. Such an approach and its implementation eliminate the need for so-called “fuel” to support operations, as in the same Ethereum.
The legacy and work of Charles Hoskinson can be traced to the many similarities between the two projects. The specialist used a lot of technological and conceptual solutions in the project, which are implemented in the ethereum. All techniques have undergone additional control and adjustment, as well as adaptation to the conditions and parameters of Cardano. This collective project includes 3 constituent institutions, each of which oversees a specific activity of the platform.
Cardano platform was initiated by a group of experts in the field of digital currency, as well as specialized investors and businessmen who mainly work in Asia. The beginning of the development and creation of the project was laid at the end of 2014. The HK partnership project (IOHK) was designed to help introduce Cardano to the world of digital money.
In the structure of the Cardano platform there is a fund of the same name, which is located in Switzerland. It was organized to provide any assistance in monitoring the development of the project, as well as monitoring the existing ecosystem. Additionally, the foundation supervises the operation of the system and protects it on behalf of protocol users.
Another organization in the Cardano platform structure is Emurgo. The office of this integral part of the unified system is located on the Isle of Man. It was organized to guarantee commercial activities on behalf of the digital platform community.
The Cardano Foundation in its activities plays the role of supervisory authority and educational center for the entire platform. The mission of the project is to do the following:
- Ensuring compliance with certain standards, as well as the protection and promotion of the Cardano protocol and related applications.
- Perform the function of a peculiar community center, providing users with up-to-date and reliable information regarding the technologies used and the possibilities of Cardano.
- Guarantee constant feedback and provide an opportunity to influence government agencies and governing structures, as well as create strategic partnerships with different companies and enterprises that use open source in their work.
The creation of the fund indicates a serious approach of developers to their product. The system is characterized by diversification and wide audience coverage, which opens up excellent opportunities for development and sustained growth. Structuring organizational elements leads to better management and a more thoughtful development program.
Goals creators Cardano
The project developers work a lot with mass media that show an active interest in the innovation platform. Prospects for expanding technology and entering the new component of the digital currency market are forcing attention to an ambitious project. The creators themselves, led by Charles Hoskinson, declare the following:
“We created the project in 2015 with one main goal – to change the established order of creation, development and earnings of cryptocurrencies. The overall task, which is designed to combine certain innovative solutions, is to create a reliable and sustainable ecosystem that is highly balanced and is able to fully meet the actual needs of users. ”
The initial development of Cardano, like most open source projects, did not contain a detailed and phased development plan. The system was based solely on the enthusiasm and high qualifications of Charles Hoskinson and the development team he assembled. The project did not even have a detailed technical description, but continued its improvement. But the team has a comprehensive set of principles for subsequent design, as well as a set of technologies for the development and direction of research. From the useful moments in the work of the developers distinguish the following:
- Selection on the platform of several levels. For example, the system strictly separates the accounting department in any of its manifestations and computer computing operations.
- Embodying the reality of the main components using special functional coding.
- Small groups of researchers and system builders who, in parallel and independently of each other, conduct review of technological operations.
- Collaboration with specialists from other disciplines, for example from the field of information security. This made it possible to avoid serious mistakes in the first stages of work and to develop technologies that are optimal for solving the problems posed.
- The team organized the work in such a way that it was able to quickly and without loss of quality to switch between activities – from creating descriptions of technical components to their implementation and new research.
- The possibility of making adjustments to existing projects without disrupting their work.
- Development of an integrated mechanism for decentralization of the financing system for further work.
- Adaptation of the system for later use on mobile devices of various types.
- The platform has been actively attracting and attracting stakeholders to support and improve the cryptocurrencies they work with.
- Accumulation of information regarding 1000 working alternative currencies, from which numerous decisions are adopted.
- Comprehensive analysis of all social aspects of commercial activities, which contributes to the development of the Cardano platform.
The list of ideas that the team has implemented or plans to implement can be continued for a long time. Hoskinson is completely “not embarrassed” to include new technologies in the development of his project, many of which are not yet found in the field of digital currency. So Cardano gradually forms around itself the image of an innovative leader in its field.
During the design and development of the Cardano system, a team of specialists actively studied the history of the development of cryptocurrency, as well as modern concepts of work. On the basis of the information collected, key financial and technological areas of work were identified that can advance the development of digital currency. The practical result of intensive work was several important and really useful decisions:
- Implement an extensive library of IOHK articles.
- Published numerous comprehensive reviews of scripting languages.
- “The ontology of smart contracts”.
- Project Scorex.
Today the world of digital currency is undergoing a serious boom and rapid development. In the course of numerous works, a variety of solutions are being introduced into the systems, designed to provide a solution to a multitude of problems. At the same time, sometimes a growing number of ambiguous solutions penetrate into digital currency, which can not only be of no use, but also significantly reduce the effectiveness of projects. From the practical difficulties that are present in the world of cryptocurrencies, we can distinguish the following:
- Systems use quite a lot of protocols (for example, TCP / IP). In contrast to these elements, the development of cryptocurrency often ignores the issues of forming special levels. The reason for this is not negligence, but the desire to preserve one common view of accomplished facts and events that take place, which are recorded in a single registry, regardless of the justification of the decisions. In the Ethereum project, developers, in an effort to turn the system into a universal world computer, have formed a very complex type of platform. As a result, the project suffers from classic problems that prevent the accumulation of funds. The question arises – is there a need for all programs to get the same resources regardless of the value and costs of operation?
- Modern research in the field of cryptocurrency market rarely use past developments in their field of knowledge. For example, in the Bitshares protection system (using the PoW algorithm), it would be quite efficient to implement a simplified system for generating random numbers that could use the coin flip technique with proven performance. This technology has been known for almost 30 years and fits perfectly into the cryptocurrency, but is only occasionally used.
- Alternative currencies almost do not take into account the need to adjust the system in the near and distant future. If developers take care of having softfork or hardfork in the future, this will remove problems and contribute to significant success in work.
Charles Hoskinson frankly enjoys his freedom when working on Cardano. This is reflected in non-trivial approaches to work, constant and extremely accurate study of the cryptocurrency market, a sincere desire to reach maximum efficiency and bring something new in the digital currency that solves the problems of users and companies. Picking up the same specialists, Charles continues the ongoing development of the project today.
Specialists and experts in the world of cryptocurrency emphasize the high importance of the Cardano system for the development of the industry. According to numerous studies and comprehensive analytical work, Cardano forms in the project organized management, a high degree of confidentiality, proven and effective security functions. Cardano was created by IOHK, which concluded a valid contract for the development and promotion of the platform until 2020.
It is likely that Hoskinson has plans to “overthrow” Ethereum from his position and replacing Cardano. In the latter case, the smart contract system looks preferable, although it has not yet realized its potential. According to the statements of Charles himself, Cardano does incomparably more for the financial and cryptocurrency spheres than the project of the ethereum.
One of the main achievements and factors forming the competitiveness of the Cardano system is the existence of a strict hierarchy, which is expressed in the creation of a multi-level structure.
The bulk of the work on the creation and operation of the Cardano project takes place in Japan. This is where the production offices and a large number of professionals working in the system are located.
It is noteworthy in Charles Hoskinson’s career that he left Ethereum shortly before the launch of the project. That is, all the fame and recognition went to him in the form of moderate thanks and mentions in thematic reviews. At the moment when the ethereum was entering the market and gradually rising up in value, Charles was already creating his own project. In the implementation of his plan, he was greatly helped by Japanese investors, who stimulated work and allocated the necessary assets.
Japanese partners sought to implement their own blockchain project, which will have its own cryptocurrency and the ability to actively use smart contracts. To achieve these goals, the IOHK project was launched.
Hoskinson plans that the cryptocurrency market will come to the stage of a fairly large-scale correction, which will significantly change the market map. The system should free itself from numerous projects that do not have serious and significant advantages, but serve as extremely reduced “imitation” of well-known and expensive platforms.
The world of cryptocurrency experienced a huge flow of investment in 2017. Part of this stream captured the first half of 2018, but on a more moderate scale. The analyst believes that such a haphazard infusion of funds can adversely affect the entire industry. The fact is that many investors, in an effort to thwart the maximum profit, began to invest in little-known projects. Soon it will become clear that such platforms are not able to bring the expected income, which will lead to the withdrawal of investments and the collapse of the platforms.
Charles Hoskinson says that after such a hypothetical system crash, we can expect a total mix of projects for maximum efficiency. If such forecasts are justified, then we can expect a new jump in the cost of cryptocurrency systems.
The creator of Cardano manages the research work of the IOHK project. His work is aimed at total improvement of the modern digital currency industry, which can lead to the creation of the most technically competent platform.
Experts agree that Cardano platform has a wide range of properties and characteristics that should be in blockchain projects of various purposes and directions. These technologies correspond to the ideas and blockchains of the new generation. Technologies do not stand still and the promotion of digital currencies implies the active development of the applied methods of work. It’s just impossible to attract users with advertising and pretentious statements, because the potential target audience has basic and advanced cryptocurrency skills and knowledge. Today the industry is at the stage of introducing scientific developments and a new round of development.
Some users consider the Cardano project to be exclusively investment and speculative. The reason, oddly enough, lies in the use of new generation blockchain technologies. For example, one of the concepts of organizing the Cardano platform is the ability to interact with all existing blockchains, which for the current situation is not critical at all and does not require a quick transformation into reality.
The limiting factor in the development of the Cardano platform is its excessive (if it can be so expressed) innovativeness. The system is not yet in demand, but as soon as the overall level of digital currency is pulled to the established slats, then we can expect an increase in interest in Cardano. Roughly this can happen in 2019.
The team of Charles Hoskinson is actively developing his ideas. Designing each stage of Cardano improvement is the basis for future work, so the company is looking a few steps forward. Ethereum co-founder managed to stand on the market while promoting an independent project, which speaks of its professionalism and purposefulness. Hoskinson has earned the respect of specialists around the world because of his ability to anticipate the next stages of work, to find optimal and effective work options, as well as to apply the most advanced technologies.
Cardano is one of the promising systems, which may well become fundamental in the industry for several years to come. This level of organization and performance is largely due to one of the leading experts in the digital currency world, Charles Hostingson.