Crypto Fundamental Review: CARDANO (ADA)

adalhi (43)in #cryptocurrency • 6 years ago (edited)

For my first review, I will be going over Cardano, one of the main players in the crypto industry.

I will be writing about coins I am interested in, but this is not in any way an investment advice. Do your own research before investing !

Let's get to it

Cardano is trading at $0.0735 on multiple exchanges (Including Binance, Kraken, OKEx...) with a market cap of $1 906 058 280.

Project / Idea

The first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.

Project Details

Cardano is often referred to as the “Japanese ethereum” and reports indicated that it was being made available in Japan through ATMs and debit cards."
Cardano uses Haskell Langage to add more flexibility
The project has security guarantees that are mathematically proven (By Academics).
For now, Cardano’s primary use case is as a cryptocurrency --> ADA is part of Cardano’s settlement layer.
The project has adhered to strict compliance standards

Partnerships/Clients

Traxia a Crypto Token built on Ethereum technology for now, will be migrating to Cardano in Q4 2018, when Cardano’s - Goguen goes live.
A gambling platform called SP8DE.
ADA Can be used to make everyday purchases in more than 33,000 stores in South Korea as a result of a partnership between Emurgo and Metaps Plus (around Q3 of 2018)"

Competitors

ETH, XRP, XLM, EOS, NEO, LISK, NEM

Applications

Gambling and gaming systems, identity management, a credit system, and Daedalus, a universal cryptocurrency wallet with automated crypto trading facility and crypto to fiat conversion capabilities.

RoadMap

Their next milestone will be the release of Shelley which is a combination of key elements that will ensure that the system is fully decentralized and autonomous.

Team

Cardano is not a company, but rather a group of three organizations:

Cardano Foundation: non-profit that controls trademark, oversees the other two companies and work with the community — 30+ people --> An independent standards body based in Switzerland with core responsibilities to support the community of Cardano users and to work with authorities on regulatory and commercial matters
IOHK: research & development — 160+ people --> A leading cryptocurrency research and development company, which holds the contract to develop the platform until 2020
Emurgo: for profit that its mission is to boost the Cardano ecosystem, something similar to Consensys for Ethereum — 40+ people --> Invests in start-ups and assists commercial ventures to build on the Cardano blockchain.

Critics