Cardano (ADA) claims to solve real problems by adopting blockchain technology. For example, we are working with the Ethiopian government to monitor the progress of education for 5 million young people on the network.
As a result of the initiative, students will receive tamper-proof academic records. This can be useful if you are looking for a job or are considering studying abroad.
Cardano took a deliberate approach to its development.. The team believes in comprehensive pre-deployment research and testing. That’s why Cardano’s Alonzo Hard Fork took so long to roll out to the mainnet. Alonzo Hard Fork is Cardano’s third major update on Shelly Era. Currencies have five major stages of development, commonly known as the “era.” Byron, Sherry, Gogen, Basho, Voltaire. — All of these improve the overall functionality of your network. Alonzo, the last significant improvement on the Shelley era platform, takes it to the Gogen era.
There are three stages to the Alonzo update. Blue, white, purple.. This is followed by AlonzoRed and AlonzoBlack, adding more people to the network and fixing any issues that occur. Alonzo Blue adds smart contracts to the network similar to those that exist on the Ethereum network.. Cardano’s smart contract capabilities are a major step forward, competing with other programmable blockchains and significantly expanding the range of solutions available to partners.
So how is Cardano different?
For the time being, Cardano does not support EVM
Developers need to build smart contracts with Plutus, a new and easy smart contract language, and Haskell, a programming language that has existed since 1990 but hasn’t become mainstream yet. Using Plutus instead of Solidity is fundamental to the development of the Cardano ecosystem. On the one hand, this suggests that it is difficult to port EthereumdApps such as Uniswap, Aave, Compound, or any EthereumdApp to Cardano... As a result, some users may hesitate to move to Cardano early on due to lack of liquidity.
Binance Smart Chain’s EVM compatibility shows that all of its major dApps are clones of the current Ethereum dApp, but Cardano provides a new start for both developers and users and is unique. An app you’ve never seen before.. Early development may be slow, but it is possible to expect to see the next generation of DeFi developed in Cardano, which could lead to d.Next Uniswap and Aaves development, and additional applications not yet envisioned.. In addition, as a result of Plutas’ enhanced development simplifications and built-in security verification techniques, application hacking incidents can be reduced.
In addition, yield agriculture is very profitable. The Governance Token project needs to entice users to use Cardano as well as the platform. As a result, it rewards tokens for basic tasks such as holding ADA, providing liquidity on the platform, and even obtaining loans. Developers and users can also benefit from the new Cardano DeFi ecosystem, which includes a brand new smart contract environment with unique tokens, projects and features... The current additional advantage is the wealth of information and expertise that Ethereum lacked when it was first launched.
The value of Cardano and ADA may not rise to the value of Ethereum, but competition in the smart contract sector is good because it drives all projects to improve products and services for the benefit of users. That is.
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