[ADA] Cardano - An Extensive Analysis Of Why It Is Good To Have Cardano In Your Portfolio (Part 2)

Hello fellow Steemians!

I have prepared an extensive analysis of coin cardano for you. On one article it would be very long so I will divide it into several parts. PART 2.

Source

Contents

Part 1: LINK

• technological layers of Cardano
• how does it work
• solving the problem
• architecture

Part 2:

• community approach
• utilization
• economic model
• roadmap

Part 3:

• white paper
• team
• future, ideas and opinions
• conclusion

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Community approach

Another advantage of Cardano is that it thinks from the beginning about the future of the project. They plan to make a governance mechanism based on community decision-making. This is underestimated by many existing projects, it does not solve it at all. 25% of the reward for the extracted block will go to the Cardano box office. ADA Holders can design and then approve the changes and new features that will be implemented. Changes will be funded from what's in the box office. Therefore, the project will not remain in the hands of developers or miners. To make changes easily, Cardano is built so-called modularly. Individual changes will simply "fit" into the right places.

Utilization

As has been said, ADA will be cryptocurrency. As a platform, Cardano targets financial systems in particular. They can be built by individuals, institutions, banks and governments. Cardano will compete with Ethereum and NEO. Other DApps will be done - for example, recently, universities in Greece have agreed to place evidence of obtaining a diploma in the Cardano blockchain.

Economic model

Encrypted ADA should serve as a means of shifting and a value keeper. A small bit will be needed as a transaction fee.

Cardano will also be a smart-pay platform, and will also pay ADA for their use.

Verification nodes will have to lock coins (the more chance the node will be selected for authentication). Users will be able to deposit coins and participate in a reward for blocking.

ADA has two reasons for growth:

1. One is the ADA as a classic cryptocurrency (such as bitcoin).
2. The second is the smart contract platform on which to build DApps, something similar to Ethereum and NEO.

Roadmap

Visit https://cardanoroadmap.com/. We are now in the Byron phase, when Cardano is centralized and basically allows only ADA coin transfer. What's next?

Q2 / Q3 2018: Shelley release, in which Ouroboros will be used. People will be able to run their own verification nodes. Your wallet will be able to sync faster and be safer. A voting system will be launched to influence the future of Cardano.

The next phase will be Coguen where they want to work on the scalability and next-gen virtual machine. Plutus programming language will be completed,

Further phases of Basho and Voltaire are planned, but so far without specific time and implementation plans.

Cardano updates the roadmap every month and displays the percentages for each section on which it is working.

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Part 3 will continue later!

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