Cardano is one of the most secured cryptocurrencies to date. They are using Ouroboros. It is a proof of stake algorithm used by Cardano. The only proof of stake protocol that was mathematically proven to be the most secure. The Ouroboros proof of stake mining eliminates the need for an energy-hungry proof of work protocol like those of Bitcoin. It stands as a barrier to blockchain scaling up much for a wider use and keeping the Cardano from being hacked and compromised.
What makes Cardano and Ouroboros partnership a stand out? Below are the Top 3 reasons why you need to purchase a highly secured proof of stake like Cardano.
- Cardano (ADA) Scalability
Majority of the transaction speed is ensured through Ouroboros, but there were still network bandwidth problem. In order to support the large number of transactions per second, the developers are proposing a new type of technology called RINA (or Recursive InterNetwork Architecture), which can be described as new way of structuring networks. For example, nodes will be part of sub-networks, and they’ll be able to communicate with one another if necessary, similar to the TCP/IP Internet protocol.
A cryptocurrency may reach high scalability by its ability to handle constant growing data. Since data and storage goes hand in hand, it is not a problem under the functionality of Cardano since storage is still inexpensive. What makes their storage unique is that they uses strategies like partitioning, pruning and compression to maximize their data storage.
- Cardano (ADA) Interoperability
Cardano’s goal is to defy the notion that only a single coin have the ability to rule the cryptocurrency world. ADA envision an electronic ecosystem that supports multiple cryptocoins that exists side-by-side, guided by their own rules and protocols.
Cardano intend to become an “Internet of Blockchains”. What does it mean? It means that it hope to become a platform where it understand other blockchains, allows interaction with each other without the need for a trusted third party.
- Cardano (ADA) Sustainability
Cardano aim to have a highly sustainable cryptocoins in circulation even if the ICO money runs out. They want to administer a proper support and continue blockchain development even if the coins seems to run out.
The Cardano developers recommended some insight on how to ensure the sustainability of the protocol. The very first contingent plan is to determine the portion of every block reward. It must be stationed into a decentralized treasury, a united vote will determine how funds from the treasury will be used to implement the overall goal of the team like the improvement and development of Cardano.
The hope for high sustainability for a cryptocurrency is what most developers wanted and the Cardano developer are working hand in hand to make sure that the future of coins will be okay.
Trading Cardano (ADA) is never risk-free but keeping them in your wallet and making money out of your trades is something you need to look forward to.