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What is Cardano?
Cardano is a third-generation decentralized public blockchain which is fully open source. Cardano seeks to deliver more advanced features than any blockchain protocol previously developed.
It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach with a commitment to engineering best practices.
The development team consists of a large global collective of expert engineers and researchers.
History of Cardano
Cardano is open source and decentralized, with consensus achieved using its native Ouroboros proof-of-stake protocol. Its native cryptocurrency is called Ada, after the famous lady mathematician Ada Lovelace.
The project differentiates itself from competitors by using a research-driven approach — the platform is designed through peer-reviewed papers written by computer scientists and academics.
There are three founding entities which work closely together to develop and build the Cardano ecosystem.
1) EMURGO – A global emerging technologies company, providing custom-built solutions to solve some of the most complex problems of the most complex organizations. As a founding entity of the Cardano protocol, EMURGO is able to leverage its abilities for large scale blockchain development and rapid solutions deployment to benefit its global clients.
2) IOHK – Founded in 2015 by Charles Hoskinson and Jeremy Wood, IOHK is one of the world’s pre-eminent blockchain infrastructure research and engineering companies. The company builds high-assurance blockchain infrastructure solutions for public, private sector and government clients, and drives the engineering development of Cardano.
3) The Cardano Foundation – Responsible for the creation and fostering of a strong international Cardano community.
What is Unique about Cardano?
Clear Road map
Cardano has a clearly designed roadmap on the full development of the Cardano blockchain. The building blocks of the Cardano blockchain are named as “eras” of development.
Byron – Launch of ADA
The first phase of Cardano was focused towards users being able to transact using the ADA cryptocurrency on a federated network utilizing the Ouroboros consensus protocol.
Shelley – Decentralization
The Shelley era took the critical first steps to create an optimally decentralized blockchain and focused upon the introduction of a delegation and incentives system, to drive ADA staking pools and reward users for staking ADA which could also be achieved through EMURGO’s Yoroi Wallet.
Cardano is one of the most decentralized protocols in the world with over 2500 staking pools securing the validation of each and every transaction that enters the blockchain.
This is 100x more decentralized than Bitcoin or other Proof-Of-Work chains, and is again a major achievement of the Cardano protocol.
Goguen – Smart Contracts (Expected Soon)
Having secured the base blockchain protocol in the earlier eras, Goguen will add much-anticipated smart contract functionality to Cardano.
With it will come the ability for developers and users to build decentralized applications on top of Cardano and for enterprise-grade applications tailored for specific business verticals.
Users will be able to enjoy a wide variety of decentralized services such as DeFi, NFTs, and others, with the full security and cost-effectiveness of using Cardano and ADA.
Basho – Scalability (Ongoing)
Once the Basho era is implemented, Cardano will become one of the most powerful, scalable, resilient, and versatile blockchain platforms in the industry.
It will primarily achieve this using the introduction of sharding through the use of side chains to increase the transactional capabilities of Cardano.
The Voltaire era of Cardano will provide the final pieces required for the Cardano network to become a self-sustaining system with proper governance.
With the introduction of a voting and treasury system, network participants will be able to use their stake and voting rights to influence the future development of the network.
In future blog posts, we’ll be taking a deeper look into the various facets of Cardano and why it is considered one of the most significant developments in blockchain technology.
How EMURGO Academy Can Meet Your Needs to Upskill Your Career & Become Blockchain-Proficient
As a global emerging technologies company providing custom-built solutions and a founding entity of Cardano blockchain, EMURGO Academy is now providing a great opportunity for those interested in learning and understanding about the details of blockchain technology with our curated online course offering – Foundations of Blockchain (click link to learn more program details) – with flexible starting dates & times to cater to students’ schedules.
*Please note the starting dates in the link above will be updated.
Basic Foundations of Blockchain Program Details
1) Give an introduction to blockchain technology from a design and development perspective
2) Equip students with essential know-how of blockchain technology and its implementation
3) Build awareness of blockchain technology use cases with live examples, assignments, and hands-on experiences
Language – English
Length – 2 hours a day
Starting Dates – Flexible
Suitable Level – Beginner
1) Module 1 (Foundations of Blockchain with Cardano Overview) – USD $120
2) Module 2 (EMURGO Certified Ethereum Developer Associate) – USD $450
3) Module 3 (EMURGO Certified Ethereum Developer Professional) – USD $450
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