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Cardano is an open-source blockchain originating from peer-reviewed academic research, according to the team. Cardano does not have a single published white paper but is developed from a collection of academic papers. Cardano see itself as a “third generation” protocol, improving on Bitcoin and Ethereum as the first and second generations, respectively. Cardano is named after an Italian Renaissance mathematician, Gerolamo Cardano, and its native currency ADA is named after Ada Lovelace, a 19th-century mathematician sometimes referenced as the first computer programmer. Cardano is backed by three entities: IOHK, The Cardano Foundation, and Emurgo. IOHK is a blockchain research and development company founded by Charles Hoskinson and Jeremy Wood that is contracted to work on Cardano from 2015 through 2020. The Cardano Foundation is a non-profit organization focused on core development and ecosystem growth for Cardano. Emurgo is a Japanese venture capital firm. Cardano is developed in 5 phases: 1. Byron: the bootstrap era where the network is only operated by designated peers and block rewards are burned 2. Shelly: the phase for transition away from trusted nodes to public network but protocol development will still be centralized 3. Goguen: the phase for delivering sidechain and smart contract capabilities 4. Basho: the phase focused on settlement and computation layer performance improvements 5. Voltaire: the phase for introducing a treasury and governance system
The Cardano blockchain has two layers: a settlement layer and a computation layer. The Cardano Settlement Layer (CSL) serves to settle transactions made by peers in the network with ADA, Cardano’s native currency. The Cardano Computation Layer (CCL) is optimized to support smart contracts and decentralized applications. Cardano developers chose a layered protocol to increase the network’s capacity for protocol changes and soft fork implementations. Cardano is developed in Haskell and Cardano smart contracts are created in Plutus, another programming language that allows for building stricter contracts. Cardano uses a Proof-of-Stake consensus mechanism called Ouroboros. Ouroboros consensus aims for improved network security and modularized design. Cardano’s modularization allows for network delegation, sidechains, improved light client data structures, and more. Ouroboros consensus is determined by slot leaders who are elected by token holders with sufficient stake in the network. Slot leaders operate in epochs to listen for and confirm transactions to produce blocks, which are then approved by input endorsers. A Cardanoo input endorser is a second set of stakeholder that verifies transactions included in blocks. Cardano believes this design is highly scalable since the network ca increase the number of slots per epoch and run multiple epochs across the network simultaneously.
- altcoindeals_bot purchased 1000 ADA at $0.0774285 on Jul 5th, 2019 9:20am for a total of $77.43 when the price was down 3.00% for the day.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0508929 on Jul 16th, 2019 21:28pm for a total of $50.8929 when the price was down 14.48% for the day. to average the price to $0.0641607 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0519838 on Aug 10th, 2019 17:07pm for a total of $51.9838 when the price was up 8.29% for the day. to average the price to $0.060101733333333 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0519838 on Aug 10th, 2019 17:07pm for a total of $51.9838 when the price was up 8.29% for the day. to average the price to $0.05807225 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0500249 on Aug 23rd, 2019 17:39pm for a total of $50.0249 when the price was up 0.53% for the day. to average the price to $0.05646278 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0442824 on Sep 1st, 2019 8:14am for a total of $44.2824 when the price was down 1.30% for the day. to average the price to $0.054432716666667 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0442824 on Sep 1st, 2019 8:14am for a total of $44.2824 when the price was down 1.30% for the day. to average the price to $0.052982671428571 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0442545 on Sep 1st, 2019 8:15am for a total of $44.2545 when the price was down 1.36% for the day. to average the price to $0.05189165 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0442545 on Sep 1st, 2019 8:15am for a total of $44.2545 when the price was down 1.36% for the day. to average the price to $0.051043077777778 per ADA.
- altcoindeals_bot purchased an additional 1000 ADA at $0.0442545 on Sep 1st, 2019 8:15am for a total of $44.2545 when the price was down 1.36% for the day. to average the price to $0.05036422 per ADA.
-- If held and sold today, altcoindeals_bot would make a profit of $3,027.60 or 85.74%.
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