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Cardano (ADA) wants to solve the problems of cryptocurrency Bitcoin (BTC) and Ethereum (ETH) September 18, 2018 Ethereum [ad_1] Source link Tags ADA Bitcoin BTC Cardano cryptocurrency ETH Ethereum problems solve Related Articles The Ethereum Classic hackers return $ 100,000 of stolen funds January 14, 2019 Ethereum will exceed Bitcoin but competition will come from ripple January 14, 2019 Ethereum Classic [ETC] 51% attack: hackers return $ 100,000 in tokens January 14, 2019
![Cardano (ADA) wants to solve the problems of cryptocurrency Bitcoin (BTC) and Ethereum (ETH) "title =" Cardano (ADA) wants to solve the problems of cryptocurrency Bitcoin (BTC) and Ethereum (ETH) "/> [19659002] The cryptocurrency community has always lent itself to constant improvements and changes: thanks to the decentralized nature of criptos like Bitcoin and Ethereum, it has become more important than ever that developers around the world are working to contribute to a better system for all. [19659003] In the early days of cryptocurrency, much of the innovation was based on creating new concepts for the original bitcoin blockchain, but as developers became more audacious and sought more revolutionary changes, the creation of new cryptocurrencies became the norm [19659003] Cardano is a perfect example of cryptocurrency created in an attempt to reform existing digital resources. <strong> Cardano, in its nucleus, was coined by the desire of developers to renew some of the problems associated with existing cryptocurrencies, in particular Bitcoin and Ethereum, the most popular currencies currently in cryptographic markets </strong>. </p>
<p> It may not seem important at the beginning, but investors and market participants must understand Cardano's (ADA) story in order to begin to conceptualize how the asset could change the face of the community. Especially for those users who want to invest in a cryptocurrency with considerable technical skills, the historical context that generated Cardano is a great piece of the puzzle. </p>
<h2> Philosophical Beginnings </h2>
<p> One of the many co-founders of the Ethereum platform actually came forward with the creation of Cardano's cryptocurrency. Charles Hoskinson had a philosophical problem with PoW or Proof-of-Work. PoW is one of several potential methods of verifying consent, an essential process for the functionality of any blockchain. Under PoW, consensus is reached by the block extraction process, while the extraction process requires considerable computational power and energy. </p>
<p> Hoskinson argued that the PoW system was problematic and not as effective as it could have been. Along with other leading members of the cryptocurrency community, he felt that the idea of PoW required too much energy consumption and was too inaccessible for the cryptocurrency community in general. </p>
<h3> Proof Of Stake </h3>
<p> Alternatively, PoS, or Proof Pole systems offer less energy, in addition to what is generally considered a more effective and safe method to verify transactions and generate consensus. PoS allows blockchain consumers to exploit the system's cryptocurrencies in exchange for certain powers in the mining and masternode verification process. </p>
<h2> New Smart Contracts </h2>
<p> In addition, the Cardano system implements a new language for the specific Cardano domain called DSL. The language was specially created to execute financial contracts, an important process in modern blockchain technology. Intelligent contracts, of course, were mediated and initially developed by the Ethereum blockchain, with considerable success. </p>
<p> But with the development of technology, Cardano decided to implement its new system for intelligent verification of contracts. For Cardano, the use of smart contracts is an incredibly important part of the blockchain. It allows the network to execute a significant amount of transactions without the need for external third party verification. </p>
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