The cardano is a network, but not a crypto currency. Rather, it is a block chain project in which the team calls it. Actually, there are three companies taking part in a cardano project and each with a different role that includes:
It is a blockchain development firm based in Hong Kong.
It is a company created to develop and also assist businesses that are aiming to use the technology of cardano.
The cardano foundation
It is a non-profit organization based on Switzerland that is aiming to extend the cardano network by simply collaborating with institutions and governments.
How the cardano is different to Ethereum and bitcoin?
The cardano is specially made to resolve the issues of first and second generation crypto currencies that include those of Ethereum and bitcoin such as:
The sustainability is about economic wealth of network. The team of IOHK is working on a suggestion capital model, where financial support for network will come from schemes received via a voting system. These funds will also be deposited in bank account and an annual rise rate is anticipated to cover the working prices.
The interoperability refers to a basis issue of block chain network. This is a full demand of interconnectedness among the crypto currencies. This is where; the online exchanges and third parties and more are able to invent their market and also affect the flow of value between the networks.
The scalability is on how much transfers within the block chain network, which are being verified within a matter of second. Also, the size of transaction data improves the amount of network transmits within single block reduces. The cardano network also utilizes ouroboros algorithm, a proof of stake algorithm that leads to decreased energy prices and quicker transaction processing.
The ultimate goal of cardano network
The main goal of cardano network is to have it become portion of the public infrastructure. This cardano is specially made to enable the users to perform cross network transactions via side chains. Primarily, this side chain is a unique block chain that is being linked to the major block chain. This connection also makes an expanded link between the block chain networks that permit for a transfer of the digital tokens between them. According to the educational network and Greek national research, this cardano network is one among the initial companies to utilize this network.