A Scientific Philosophy Based Cryptocurrency
Cardano is a blockchain platform that evolved out of a scientific philosophy
Yesterday, I wrote a post about Einsteinium and asked the question; Can Cryptocurrency Do What Grants and Donations Can't?. Well, also yesterday, I had a few more BTC added to Bittrex through the PayPal to Lisk to Bittrex process. I am not sure if I am going to do that process again, because it seems a little bit shady. Anyway, I only put in a little real cash from my PayPal account, which holds a few dollars I squirrel away every month. It took 48 hours for the Lisk transaction to Bittrex to go through, which is why people get a little squirmish when doing the process.
Anyway, since I had a few BTC laying around, I decided to see if there was anything cheap I could buy. ADA popped up on the Bittrex market at a very low price, so I decided to purchase some. Not all coins are on Bittrex, so I am hoping that they do some sort of due diligence of their own to make sure the coin isn't a junk coin.
I could get back out tonight and be happy with the turn around. But, it the coin has only been trading for this month, so I'll see where it goes. It is still half of what it was at its all time high.
"blockchain platform with more advanced features than any protocol yet developed"
That is a pretty big assertion by Cardano. I really don't know enough about blockchain to know if what they claim is true.
As a whole, the protocol’s design is geared towards protecting privacy rights of users, while also taking into account the needs of regulators. In doing so, Cardano is the first protocol to balance these requirements in a nuanced and effective way, pioneering a new approach for cryptocurrencies. In addition, while the platform has been solidly composed, we also recognise the need for it to evolve and adapt to changing needs. Consequently we have designed a system that can be upgraded by way of soft forks, and are installing a treasury system that will ensure the sustainability of the protocol.
The About page is really full of a lot of assertions that would cause one to think twice. But, if they can deliver on these things, then this might be the first usable cryptocurrency for the USA.
IOHK - Input/Output
Cardano was created by a company called IOHK. Founded in 2015 by Charles Hoskinson and Jeremy Wood, who are apparently two extremely smart guys who want to disrupt things.
Charles Hoskinson
His professional experience includes founding three Cryptocurrency related start-ups- Invictus Innovations, Ethereum and IOHK- and a variety of colorful positions in the public and private sector. He was the founding chairman of the Bitcoin Foundation’s education committee and established the Cryptocurrency Research Group in September of 2013.
Jeremey Wood
Immediately upon finishing Indiana University-Purdue University Indianapolis, Jeremy Wood packed a suitcase and bought a one-way ticket to Asia. Living in Osaka, Japan since 2008 Jeremy was bitten by the crypto-bug in 2013 and is a founding member of the Kansai Bitcoin Meet-up. He soon became entranced by the potential of next generation blockchains and joined Ethereum at the end of 2013, managing operations.
I'm beginning to think that all cryptocurrencies are created by a few dozen guys who keep creating new ones in order to hold enough to make them a few million dollars and then go on to make another one.
Cardano boast of having a large team, which they do. It has reasearch fellows and all sorts of geeky looking people from all over the world. I'm not exactly sure what IOHK does with all of these people, beyond creating Cardano and Daedalus. Daedalus is the wallet for Cardanao. I guess they couldn't simply name the wallet after the coin because that would be too obvious. And I have no idea what the purpose of a themeable wallet is. How many different ways an you look at numbers?
Apparently, they are working on a way to make Cardano mineable. I'm not sure if that will help with the value, because if the coin is already out there, why would you want to make more of it?
Anyway, I jumped in. Will Cardano (ADA) keep going up? I assume that all has to do with acceptance. And since the coin is new, that might take awhile. For now, we'll have to see where this upward movement goes.
Let the positive energy sing!
More Power to the Minnows!!
