Why CARDAO chose Cardano?

The blockchain for reserve currency

  • A large amount of currency to use for international transactions.
  • Reducing exchange rate risk since there’s no need to exchange for another currency.
  • Facilitate to perform large global transactions with confidence by central banks.
  • A large amount of currency to use for inter-protocol transactions.
  • Reducing exchange rate risk since there’s no need to exchange for another crypto.
  • Facilitate to perform large global transactions with confidence by smart contract.
Figure 1. How reserve currencies have evolved over 120 years [3].
Figure 2. Mean value of transaction fee on network (Ethereum vs Cardano) [7].

Can Cardano Be an Ethereum Killer?

Table 1. Comparison of PoW and PoS.
Figure 3. Comparison of tx counts for the same energy.
Figure 4. Figure from the Ouroboros paper. Gray circle is from adversarial block producers and the double-lined white circle is from honest producers [9].
Figure 5. The brief description for Hydra on Cardano.

Development on Cardano

Figure 6. Github of IOHK.
Figure 7. Haskell.
  • Haskell is a functional language.
  • Haskell is strong against failures through strict type application and prevents errors in the code.
  • Functional programming handles concurrency better, so it excels at complex tasks involving parallel tasks.
  • Therefore, functional programming languages ​​are often adopted in fintech technology.
  • Haskell is well suited for implementing blockchains because it can manage immutability, type safety, and distributed computation well.

Cardano’s potential

Figure 8. Cardano was the most developed in 2021 on github (Source: Sanbase)
Figure 9. Mined Cardano Blocks vs Active Ada Staked to Validators
Figure 10. Cardano’s monthly transaction fee.
Figure 11. Cardano’s active addresses & transactions in until 2021 (source: intotheblock).

Closing The Post

Reference

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