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November 27, 2018 at 20:39
| updated:
November 27, 2018 at 20: 39 & nbspUTC
In our Guide to Cardano, we discussed the innovative features that Cardano tries to bring to the table. It is also often advertised as a Japanese alternative to Ethereum, just as the NEO is called Ethereum, due to the support it has obtained from Japanese investors. It is known that the Cardano platform has many professionals to boast about. However, unfortunately, like most good things, it also clashes with certain disadvantages. In this article, we will take a look at both Cardano professionals and professionals. To begin with a positive note, we will first list its positive characteristics.
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Pro of Cardano
The Cardan blockchain and cryptocurrency platform are considered uniquely useful because of the following traits:
1. Open source code
The Cardano developers have chosen to have an open source code to make sure that many members of the crypto and blockchain community can benefit from it. The goal of this network is to make sure that cryptocurrencies on networks or platforms can interact with one another. Therefore, one of its main objectives is to promote interoperability. It is also expected to promote easy atomic exchanges and make blockchain technology a collaborative affair.
2. A credible team
Cardano has an extremely competent and credible team in support of its development and its design. Jeremy Wood and Charles Hoskinson, both intimately involved in the development of the innovative Ethereum blockchain, have become the backbone of the Cardano project. Together they formed the technology company IOHK (Input Output Hong Kong) and it is thanks to this company that Cardano was able to bring these two reliable experts on board. Even Professor Aggelos Kiayias, an important cryptographer, is part of the Cardano team, making it a project that should not be underestimated.
3. Double layer character
Cardano incorporates two different layers to make the functionality of its blockchain even more precise and refined. The first level is the settlement layer designed for the registration and processing of all transactions on the platform. The second level is for added features like smart blockchain contracts. The double layer not only adds functionality, but also improves efficiency by separating the work from two different levels.
4. Consensus protocol on energy efficiency
While there are many consensus protocols, Cardano developers have chosen to use the PoS or Proof Of Stake variety to ensure it is an efficient way to block blocks, without the use of overly expensive or heavy computing equipment.
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Against Cardano
Despite the numerous advantages, Cardano has few drawbacks. Are as follows.
1. Concerns of centralization
While the Proof of Stake protocol makes mining a simpler affair, it also raises concerns about centralization, allowing only a few validators to decide which block is validated.
2. Security vulnerability
The Proof of Stake protocol leaves a loophole in which an attacker can double the expense by sending a transaction and then simply by forking a blockchain fork just before the aforementioned transaction.
3. New programming language, which does not have a proven use case
Cardano has developed its own programming language: the Plutus. Although it is always nice to see newcomers in the world of fintech, the fact remains that it is an absolutely new language and a unique platform that has not yet had the opportunity to show its courage. This lack of track records can be a problem.
Cardano is a great introduction to the world of blockchain technology and we sincerely hope that, in the long run, professionals will greatly outweigh the disadvantages.
Here are some other articles for you to read the next:
5 things you should know about Blockchain
How to protect cryptographic portfolios?
How to buy Bitcoin with cash?
Rushali Shome
Rushali Shome is a history student with a keen interest in word games, politics and beyond. When you do not type furiously in the "Notes" section of your phone, it can be found by trying to capture the servers' attention in restaurants or weddings for a second help.
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