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Cardano


Cardano is more than just a cryptocurrency, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organisations and governments all around the world.

More About Cardano

Continue reading to learn more about:

Definition
Can Cardano transactions be traced?
Everything about Cardano
How many transactions can Cardano handle?
How many confirmations are needed for Cardano?


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Definition


Cardano is an innovative cryptocurrency Ethereum, a platform designed to run the program of smart contracts. Cardano is the first protocol developed with a scientific philosophy and built by leading academics and engineers through peer-reviewed research. It is one of the most ambitious projects in the cryptocurrency space that sets out to improve on the current limitations of the blockchain technology.

 
 

How many transactions can Cardano handle?


Cardano's settlement layer has the ability to handle more than 1,000 transactions a second if needed. By comparison VISA, on average, handles 1,700 transactions per second globally. However, in developed economies like those in Europe and North America the average is nearer 4,000 transactions per second.

 

Can Cardano transactions be traced?

All Cardano transactions are public information and can be viewed readily on the blockchain. This means that all transactions are traceable, even if they are made anonymously.
This includes the addition of any new coins to a wallet; however, it is not possible to tie a wallet address to an individual or company or other entity. This ensures that no party in the network can get information about a user unless it is revealed by that user.
 
  • How many confirmations are needed for Cardano?


    •Cardano has a system of block creation that allows it to uniquely confirm transactions via a Proof of Stake (PoS) protocol. This is in contrast to Proof of Work (PoW) protocols that are used by currencies such as Bitcoin.

    •Once a transfer has been broadcasted to the Cardano network, it takes around 20 minutes for the transaction to be confirmed. The confirmations are achieved by miners who bundle transactions into blocks and then link them with each other, creating a chain. This chain of blocks is called the "blockchain", and their efforts ensure that the system is working as intended.
  • Everything about Cardano

    Cardano is a decentralised public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.