Whereas the Cardano (ADA) protocol is similar to Ethereum’s PoS mechanism, the Cardano protocol is faster and has improved efficiency. The protocol introduces more features at an advanced level without blemishing the original idea of crypto that is decentralisation.
Cardano balances security, speed and decentralisation whilst attempting to improve proportionally forward with each release or published paper. This is the idea from the mind behind it all, the founder Charles Hoskinson, who said this:
“What we’ve done with Cardano is start with asking ourselves what a blockchain is. Does proof of work actually make a blockchain secure? Is there a way to build PoS with the exact same outcome?
Can we do things in a way where we can achieve classical performance with decentralisation so that we’re moving the trade-off profile in a certain way?
Every time Cardano publishes a paper we are taking a step forward.”
Yesterday, one of the leading crypto exchanges, Bittrex announced its decision to move forward to enable crypto/fiat trading pairs for both Zcash and Cardano. The crypto exchanges official Twitter account tweeted the news and then later confirmed this by sending out an email to its subscribers.
“Bittrex is excited to open two new US Dollar markets, Cardano and Zcash, on September 5th, 2018!
The approval process is fast and once approved you can trade all USD markets Bittrex offers today and in the future. When approved for USD deposits and withdrawals we will reply with wire transfer instructions and you will enjoy industry-leading same or next US-business day deposits and withdrawals.”
The Cardano Wallet will most likely bring in high quality digital currency wallets which will meet standards.
“The release of the formal specification of the Cardano Wallet Backend is a major milestone for us and for all crypto. You should demand this standard for all protocols.”