What is CARDANO and How To Buy Cardano ADA Instantly With Credit Debit Card
Updated: Sep 20, 2021
Cardano is a Chinese blockchain network whose digital currency is called Ada. This network can be used to transfer digital money as well as record smart contracts and build decentralized applications. In a way, Cardano is a competitor to Etherium and other smart contract platforms. In this article, you will learn about Cardano, how it works, and how to buy this digital currency.
The Cardano project was launched in 2015. The developer is IOHK (Input Output Hong Kong). The project is named after mathematician Gerolamo Cardano.
Cardano is a decentralized system based on China Blockchain technology powered by ADA tokens. The ADA is a digital currency used on the Cardano platform. Like Ethereum, Cardano is a Smart Contracts system and can be used to design and build decentralized applications (Dapps), except that its scalability and security are provided by a multi-layered structure. This means that Cardano uses different layers for different purposes; It has a layer for ADA financial transactions and exchanges and a separate layer for executing smart contracts!
Unlike many other digital currencies, such as Bitcoin, which use the Proof Of Work method to maintain network security and verify transactions, Cardano uses the Proof Of Stake algorithm.
Cardano is also the first digital currency to be designed with scientific philosophy and based on the research of scientists and peer review in this field, and this can guarantee its security at different times. Cardano’s goal is to create a porcelain block that performs better than older blockchains such as Etherium. This means that it can cover more transactions, with higher speeds and lower costs.
Most people think that Cardano and ADA are the same, but in reality, there is a difference between them. Cardano is a Chinese blockchain that allows people to send and receive funds, and the ADA token is the name of the network’s native digital currency.
Cardano, like most other digital currencies, has a decentralized structure; This means that no central or governmental organization or institution oversees it and its smart transactions and contracts are credited by individuals.
How does Cardano work?
Cardano is developed in two layers that separate the general ledger of values within accounts from the method of transferring value between other accounts. This separation makes the smart contracts on the platform more flexible. Companies can use this separation to customize contracts as much as possible.
Cardano Payment Layer (CSL)
CSL is the first layer of the platform and acts as a general office alignment. This layer, which was created with the aim of improving the bitcoin protocol in terms of scalability, creates new blocks and confirms transactions using the stock proof algorithm.
In fact, this layer allows users to send and receive ADA coins between users, such as when Etherium users exchange their digital assets.
Cardano Computing Layer (CCL)
CCL is the second layer of the Cardano platform, which contains information on how transactions are performed. This layer is still under development and allows users to create smart contracts.
Because the calculation layer is separate from the payment layer, CCL users can create different rules when evaluating transactions. For example, you can create a general ledger that does not select any transactions that do not contain real estate information. This will increase the facilities in the Chinese block.
Cardano is a project that has solved many of the problems of the digital currency world. After hacking the DAO on the Etherium network, it is very important that Cardano’s main focus is on reviewing the code carefully and thus providing network security. As a result, Cardano is considered a secure network with a two-tier structure that simultaneously covers the features of Bitcoin and Ethereum.
Where to Buy Cardano?
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