Cardano and the future of the Blockchain Technology

(Image Source : https://www.cardano.org)

The cryptocurrency industry has come a very long way from when it is just considered another fringe idea that was going to fizzle out anytime soon, when Bitcoin was the only player, to one that has grown with over 1400 distinct products and a market worth over half a trillion dollars in market capitalization. Despite its meteoric rise, the cryptocurrency world is one that is plagued with a lot of problems that it needs to address if it wants to make any meaningful progress going into the future.

The industry is now much liberalized in terms of the research that is required to bring forth a new project, mainly thanks to the Ethereum blockchain. And though this might be interpreted as being great by same, the fear is that the industry might stagnate in one place rather than break new grounds that will give it the edge over any status quo players in any given niche. This is the reason behind the creation of Cardano, one of the most original and academic centered creations ever on the blockchain industry.

What is Cardano?

Cardano is an independent standalone blockchain which seeks to provide the much needed solutions to the present problems that plague the cryptocurrency world. Issues such as slow transactions, lack of scalability, rising threats of insecurity as well as the accusations that the industry is anarchic in nature are all addressed by the Cardano Platform.

Features of Cardano

Cardano is touted to be the next generation blockchain that comes with features that have never yet been seen on any other outfit in the industry. Some of these features include :

• Peer-Reviewed Research: Unlike most other cryptocurrency outfits which are roundly accused as being mere copies of one another or products of not completely proven cryptography work, Cardano is as a result of years of rigorously verified peer reviewed research. The Cardano blockchain is one that has not just been proposed without scrutiny from experts like most others, but one that is above the present standards that is set by the industry.
• Oversight and Privacy: The present blockchain industry is known for being completely ungovernable which is the main grouse most authorities have with it, as it has become a key point of attraction for fraudsters scamming people out of their money. Recognizing that the industry needs to earn credibility if it wants to be taken seriously, the Cardano platform is one that is designed to offer both a privacy users expect from the industry with a restrictive oversight mechanism that guarantees no illegal or fraud activity is conducted using the platform.
• Sustainability: Most blockchain startups harp on their decentralization and the fact that no single entity has any ultimate power over them, however they forget that every system needs vital finances to keep itself running and ever relevant. This is what the Cardano platform recognizes and implements in its makeup. The Cardano blockchain has a continuous source of revenue which is used to sustain the platform and keep it ever relevant in an industry that is still evolving.

Cardano is often referred to as the next generation of the blockchain technology. While most blockchain outfits are stuck at being just mere ides for years, Cardano is one that seeks to buck this trend by offering its users the actual benefits that can come with the use of the blockchain technology. Cardano sees the importance of achieving the perfect mix of privacy while ensuring no criminality hijacks the blockchain technology and with its team of the most respected luminaries in the field, it hopes to be the standard bearer of what the blockchain technology will look like in the time ahead.