London,United Kingdom – March 11, 2022 —
ADAwire’s latest launch takes an in-depth look at Ethereum killer Cardano and its rise to prominence as the world’s first protocol to be built from the ground up as a Proof of Stake (PoS). Cardano represents a departure from Ethereum’s model in that it is built around formal and peer-reviewed research.
More details can be found at https://adawire.com/genesis-of-ethereum-killer-cardano-ada-ouroboros-praos-proof-of-stake-pos-blockchain-consensus-protocol-guide-2022/
The new report discusses the history of the Cardano organization and explores its proprietary Ouroboros Praos protocol – a PoS consensus mechanism that sees stakeholders rather than miners update the company’s ledger.
While Bitcoin remains the dominant force in the crypto market, Ethereum is the world’s second-most popular digital currency. The recent launch of its London hard fork, enabling mining based on one’s coin ownership, saw Ethereum make further inroads into Bitcoin’s market share. According to Forkast, Ethereum killers such as Cardano are now bidding for a larger share of the DeFi, NFT, and smart contract market.
ADAwire’s report discusses the nature of the Cardano PoS mechanism, explaining how stakeholder election and block generation is decided by randomization. The likelihood of being selected is weighted according to how much ADA – Cardano’s native currency – is held by a particular account.
Author Chris Munch explains how stakeholders can pool resources to form stake pools – membership of which increases the chances of being selected by the Ouroboros algorithm. This trend towards staking preserves Cardano’s goal of being the most decentralized system in the blockchain space while also conserving the energy consumed by power-heavy mining.
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ADAwire is an informational website, offering news, analysis and opinion on all things related to the ADA cryptocurrency. Readers can benefit from expert product reviews, offers, market insights, and complimentary training guides for aspiring crypto investors.
Article author Chris Munch says, “ This is a general but complete overview of Cardano. Their core values and development philosophies are the result and answer to the past experiences of founder Charles Hoskinson with Ethereum. The result is a more systematic and disciplined approach.”
With the release of its new Cardano report, ADAwire continues to offer revealing analysis and education on the latest developments and trends in the cryptocurrency sector.
For more information, please visit https://adawire.com/crypto-map-to-pavia-metaverse-portals-on-cardano-ada-pav-tokenomics-roadmap-to-buy-land-avatars-nft-marketplace-explained/
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
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Organization: Adawire
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Website: https://adawire.com/
Source: PressCable
Release ID: 89070353
