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  • For this reason WingRiders is now the main Cardano DeFi protocol June 30, 2022
    submitted by /u/Robert-Kenneth508 [link] [comments]
    /u/Robert-Kenneth508
  • Cardano's 1000 Arrows June 30, 2022
    submitted by /u/ArmyofSpies [link] [comments]
    /u/ArmyofSpies
  • Cardano Rumor Rundown June 30, 2022 June 30, 2022
    Hey Everyone! Let's go... Newly covered today: IOG proposes a “Proof-of-Useful-Work” protocol for Bitcoin to minimize energy cost and carbon footprint. https://twitter.com/InputOutputHK/status/1542166680071278594 DeadPXLZ have announced that they will build out a location in Cardano Island. https://twitter.com/pxlzNFT/status/1541853395283329025 Lots of additional Virtua Cardano Island information in the AMA from June 28. https://twitter.com/VirtuaMetaverse/status/1541789941130223616 For a while Cardano’s Pavia […]
    /u/ArmyofSpies
  • DEX or CEX - no KYC June 30, 2022
    I'm relatively new to Cardano and Cryptocurrency and I'm feeling lost and overwhelmed trying to figure out which services to use. I've read the guides here, done hours of research, and I just need a couple straight answers from a trusted community. I'm located in a country that has had a recent past violating peoples […]
    /u/SageAnahata
  • Cardano Daily Discussion - June 30, 2022 June 30, 2022
    Hello everyone, Welcome to the Cardano Daily Discussion! The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be […]
    /u/SL13PNIR
  • Meow Swap effectively dead? June 30, 2022
    Meow sits at .02 ADA, the 24 hr transaction volume is $202, TVL is $109K. Anyone have a fork to stick in it? submitted by /u/Knoal [link] [comments]
    /u/Knoal
  • Help Identifying a Token called Growth June 30, 2022
    Hello Everyone, I seem to have a new token in my wallet. I'm not sure where it came from, and I was wondering if it was sent to me, or if I got it as lp or something. The asset id is 4fd0d998dc0700ca6ef89fafff05fbf523a3a25c1fc8314bf7e4d1c2. Any information on this token would be appreciated. Thanks submitted by /u/sharmakarma97 […]
    /u/sharmakarma97
  • What will happen to my staked ADA in my Daedalus wallet once I get a ledger hardware wallet? June 30, 2022
    I am new to this so bear with my ignorance. I have my ADA staked in a wallet I created on Daedalus. I ordered a ledger nano S plus hardware wallet and I want to transfer all of my ADA over to the ledger wallet for increased security while continuing to stake it. I have […]
    /u/wayEyeseeit
  • Eternl.io wallet question(s) June 29, 2022
    A few newbie questions ... I have been using Yoroi up to now, but recently had to restore a wallet in Eternl to gain access to the Genius ISO NFT. However, on eternl.io I just created an OpenWallet (web?? wallet "https://eternl.io/app/mainnet/wallet/" ) ..I did not use the "browser extension option" to do this. But, it […]
    /u/kwikquest
  • Daedalus wallet download June 29, 2022
    This download is longer than GTA and COD combined. Holy shit 😭😂 I think I’m going on 8hours. Still at 90%… is it really worth it once completed??? submitted by /u/DeepValue47 [link] [comments]
    /u/DeepValue47

What Is Cardano ?

What is Cardano SL?
Cardano SL is also known as Cardano Settlement Layer and this is a cryptographic currency created and advanced by IOHK in collaboration with three universities – those of Edinburgh, of Athens and of Connecticut. Cardano SL is based on the white paper written by Aggelos Kiayias, Bernardo David, Alexander Russell and Roman Oliynykov.

Cardano SL is similar to Bitcoin, however it offers the freedom of fixing the design flaws of the later.

What Makes Cardano SL Special?
As mentioned, Bitcoin and Cardano SL are very much alike, however there are things setting them apart as well. One major difference is that the former is a proof of work type of cryptocurrency while the later uses a proof of stake to reach the agreement. This approach strengthens users’ honesty and participation for the long term.

Purpose of a Consensus Algorithm
To have an updated state of the ledger, consensus algorithms are needed since they produce new transactions blocks. All new blocks of transaction must be published and they need a proof of merit attached. It is the node running the cryptocurrency protocol that publishes the block of transaction. Let’s talk about two types of proofs that are possible.

Proof of Work and Mining
The most common general agreement algorithm type for the cryptocoins is the proof of work. This type of proof was created for Bitcoin and this is how Bitcoin still functions. The computer has to solve a test to create proof of work. The test is a problem that is difficult to find an answer to, however once it is found, it is easy to check it. When the answer is found by the computer on the proof of work network, it publishes it along with any transactions it observed during the time it worked to solve the problem. Its owner will collect transaction fees and a recompense because a block was generated. This whole action is referred to as mining. Mining uses a lot of energy that in turn is ever increasing, which in turn also leads to a lot of competition.