This week’s blockchain project of the week is Cardano blockchain.
Cardano is a blockchain technology platform that is capable of running financial applications currently used every day by individuals, organizations and governments all around the world. The platform is being constructed in layers, which gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks. After the settlement layer that will run Ada is complete, a separate computing layer will be built to handle smart contracts, the digital legal agreements that will underpin future commerce and business.
Cardano will also run decentralised applications, or dapps, services not controlled by any single party but instead operate on a blockchain.
Cardano was created in 2017 by blockchain development firm Input Output Hong Kong (IOHK), IOHK is run by its CEO Charles Hoskinson, who was also a co-founder of BitShares, Ethereum and Ethereum Classic.
Cardano blockchain is written in programming language Haskell. It is exected to run smart contracts with other blockchain features.
ADA cryptocurrency is traded on major cryto exchanges.