THE BIRTH OF CARDANO
Birthday of Cardano (ADA coin) we may consider year of 2015. As other coins, Cardano Cryptocurrency was created to send and receive digital assets with a possibility to make quick and safe transactions. It should also be mentioned that the main goal of Cardano (ADA coin) creation was the will of designing a reliable ecosystem that meets the requirements of users and integrates perfectly with other systems.
WHAT IS CARDANO
Similar to other cryptocurrencies, ADA - Cardano is a digital coin that can be used to store value or send and receive funds. The ADA cryptocurrency runs on the Cardano blockchain, a first-of-its-kind decentralised network, based completely on scientific and mathematical principles and designed by experts in the fields of cryptography and engineering. The Cardano blockchain can be used to build smart contracts, and in turn, create decentralised applications and protocols. In addition, the ability to send and receive funds instantly, for minimal fees, has many applications in the world of business and finance.
Cardano is looking to solve some of the blockchain industry's current problems, including:
- Vulnerability to attacks.
- How to separate accounting and computational layers.
- How to Create a secure voting mechanism for token holders.
- How to make a consensus mechanism that is infinitely scalable.
WHO CREATED CARDANO
In the early days of Ethereum, one of its co-founders, Charles Hoskinson saw the need for a more standardised, and scalable blockchain. With his mathematics background, Hoskinson began thinking about more scientific ways to build a blockchain. During this time, Hoskinson connected with Jeremy Wood, a former co-worker at Ethereum, who was looking to create a better blockchain and smart contracts platform. The two began to pursue Cardano as it exists today.
WHAT IS LOVELACE
Named after the first female programmer Ada Lovelace.
Lovelace the smallest amount of ADA there is.
1 ADA = 1.000.000 lovelaces
1 lovelace = 1/1.000.000 ADA