Cardano Coin (ADA) Philosophy | Review
Born in 2015, the Cardano project was created with a focus on changing the way crypto currencies are designed and developed.
However, the project did not stop with currency creation. The team wanted to invent an entirely new ecosystem with balance and sustainability to accommodate the needs and wishes of its users, as well as making integration of new systems more streamlined.
Following in the footsteps of the infamous Satoshi Nakamoto, the team at IOHK designed Cardano to be a completely open-source. It all started with an idea; a philosophy; but, without a traditional roadmap or white paper. Instead, Cardano was an array of design principles, engineering best practices, and a list of possibilities for potential expansion.
The Original Ideas
Among that collection was the idea that accounting and computation should be separated into different layers. Both interacting; yet separate. Another of those ideas was that the implementation of core components should be designed modular, functional code. To accomplish those goals, the Cardano team planned to assemble various groups of academics and developers competing with each other through peer-reviewed research papers. These papers are intended to promote the growth of the project to be sure. However, the primary goal is to encourage the growth of the scienсe behind them, thereby improving the growth of computers, coding, and the crypto sphere itself.
Among those groups of experts, Cardano also planned to become one of the first projects to use InfoSec experts to promote further the growth mentioned above through the development and implementation of advanced security protocol. Cardano also sees unnecessary delays as in issue. To combat such delays, Cardano promotes the fast iteration between new research, white papers, and implementation.
The core belief
The project also believes in designing and building in the ability to upgrade deployed systems without destroying the existing network. Another of Cardano's core beliefs is that the development of a decentralized funding mechanism is necessary for future work in that decentralization brings forth the individuals who share the focus and drive of the project itself. The belief that improving the design of cryptocurrencies with a focus on mobile development with consistent and secure user experience is another key focus of Cardano's philosophy. Cardano knows, as do many of us in the cryptosphere, that mobile crypto use will lead us to the widespread, real-life adoption of cryptos in the real world.
Bringing stakeholders closer to the operations and maintenance of their cryptocurrency is a way Cardano intends to create a sense of community that cannot be easily broken or disbanded as everyone involved shall have a full understanding of and connection to the various projects from the inside out. Breaking from traditional crypto thinking of separation of the different coins and tokens, Cardano believes that acknowledging the need to account for multiple assets in the same ledger is paramount to the success of the integration of the cryptosphere into the real world of commerce. The key, Cardano believes, is that the abstraction that transactions must include optional metadata to better conform to the needs of the existing legacy systems; while being incorporated into that multi-crypto ledger.
To accomplish all of this, instead of wasting time "reinventing the wheel," the Cardano team studied and learned from the thousands of prior altcoin and token projects, embracing features that make sense with this new philosophy; and ignoring those ideas that prevent growth following the Cardano system. This system Cardano planned would adopt a standards-driven process inspired by the Internet Engineering Task Force to implement a solid foundation to dictate the final protocol to be used in their platform.
Along with the scientific aspect of the project, Cardano understood the concept of the social elements of commerce. Therefore, Cardano planned a detailed exploration of this concept so that such features could be implemented into the very core of this project.
Cardano also understood the government involvement in the cryptosphere. Regulatory agencies from every country have investigated cryptocurrencies and tokens to bring the law up to speed with the technology involved in our new world. With that understanding, the Cardano team strived to find a middle ground for those regulators to promote government interaction with crypto commerce; while, at the same time, maintaining the same core principles of privacy and decentralization inherited from Bitcoin.
Behind these ideas
From this lofty collection of unstructured ideas, the core principles built into Cardano encouraged exploration of the existing cryptocurrency literature to construct a wholly innovative toolset of abstractions. All in all, the Cardano project is taking the best facets of the cryptosphere to construct a sound system of ideas and turning those into a decentralized piece of software intent on unifying our world with the real-life world of fiat and commerce.
The careful planning and research behind these ideas is one that cannot be altered due to its decentralized nature, making it trustless at its core. This decentralization, and its basis in the history of the first crypto, Bitcoin, allows Cardano to maintain the core users of the cryptosphere; while expanding that user base to newcomers, even further solidifying our world as one.
This philosophy is the basis of the Cardano project, giving life to what they believe is the natural evolution of cryptos. And, while We are not sure as to whether Cardano itself is that next step in crypto, those ideas make perfect sense. And, that kind of thinking is what ensures the survival and growth of the cryptosphere. For that kind of detailed planning and forward-thinking, We give Cardano our support and attention.
Moving forward, this project will be on our radar. We suggest you all watch it and participate in it, with us as we all work together to expand the crypto sphere, ensuring our freedom and financial well being moving into the future.
Thanks for joining us in exploring these new ideas. Good luck on your crypto journey. Happy HODLing!!!