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  • but what if ADA is what is making feel unwell ? hodl September 19, 2018
    submitted by /u/ultramari0 [link] [comments]
  • How Important Cardano 1.4 Is? September 19, 2018
    Cold storage I think it is significant because it will be the key for Institutions/whales to accummulate ADA. Hence, stability of market price. I remember Pomp's New Morgan Greek fund didnt add Cardano due to lack of cold storage support. And I asked to twitter what exactly do they mean by that and this was […]
  • While people rave and drool over “potential partnerships” with.. September 19, 2018
    ....Fortune 500 companies that don’t really need them. Cardano just casually does business with the GOVERNMENTS of Mongolia and Ethiopia. If your a value investor Please tell me why Ada isn’t in your portfolio today. submitted by /u/CXNNEWS [link] [comments]
  • Stellar Startup Merges with Chain, to Reborn as Interstellar September 18, 2018
    submitted by /u/Theocentrism [link] [comments]
  • Will Cardano adopt Interledger Protocol (ILP) September 18, 2018
    Adopting the Interledger Protocol would save IOHK a lot of time and energy recreating a proven protocol. Charles has mentioned ILP a couple of times, but he hasn't directly stated why it's not planned for production. ILP is a simple protocol without many assumptions, and it's well on it's path to becoming a standard. ILP […]
  • I am back! September 18, 2018
    Oke I an back and ready to invest. Who is with me? submitted by /u/NineNeocolonialism [link] [comments]
  • Physical service business integration with ADA? September 18, 2018
    Hey there everyone. I have a service business that’s been established now for 4 years so technically we aren’t really a startup anymore. We now gross about 1.2mil/ yr and are growing well. I’d like to accept ADA as payment, and build systems into my business to educate my customers on the value of how […]
  • Regulated EU Cardano & Financial Assets Trading Platform September 18, 2018
    submitted by /u/MgKx [link] [comments]
  • Cardano Update - Big Competition for Ethereum - ADA Cryptocurrency September 18, 2018
    submitted by /u/cryptoambre [link] [comments]
  • Welcome to our daily discussion September 18, 2018
    Hello everyone, Welcome to the Cardano Daily Discussion, a place where all things crypto can be discussed on a daily basis! Rules: * You are expected to treat everyone with dignity and respect. Personal attacks and insults will not be tolerated and users will be banned. * Keep the discussions crypto related and always look […]

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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.