The Cardano first released in 2017, founded by Jeremy Wood, and was registered in Switzerland, when Cardano first appeared its starting price was $0.0026, now it is traded at $1.514, the total market size of Cardano is 49.475B and current circulation is 31.95B, the Cardano ranking is 5 among cryptocurrencies. The Cardano native token is ADA, the consensus mechanism is PoS and the core algorithm is Ouroboros.
Developers mark Cardano as a third-generation cryptocurrency due to its speed and cheaper transaction cost, it is a multi-level, decentralized, and flexible system, smart contracts implement over Cardano are do better performance rather than on Ethereum network.
As compared to first and second-generation cryptocurrencies like Bitcoin and Etehreum, Cardano offers scalability, interoperability, and sustainability and inherit the advantages of the existing blockchains, unlike the other blockchain, Cardano is capable of storing the metadata information of each transaction, due to the nature of the blockchain, every transaction is anonymous to the outside world, if a company collecting funds by issuing the ERC20 token on Etehreum network, the company faces consequences by the authority for such anonymous transaction, but the Cardano blockchain is well suited with the traditional financial system because Cardano transactions are easy to audit and verified by a central authority, every transaction reveal its own details to the concerned authorities.
No one ignores the fact the in Bitcoin or any other cryptocurrency transactional details, there is no data related to the identification of the asset holder other than the public keys or wallet address, if someone forgets his keys, passwords, or seed phrase then he almost lost his assets, but in Cardano network, every asset is easily identified with metadata, the history of transactions are traceable, and many methods available that will facilitate the regulatory framework within the blockchain network.
In our traditional finance field, there are three types of regulatory frameworks that exist, know your customers(KYV), anti-money laundering (AML), and anti-terrorist financing (ATF), however, due to a lot of regulatory pressures from various government agencies over blockchain networks, Bitcoin and other cryptocurrencies unbale to develop such system within their own blockchain system, but Cardano which is a healthy balance between encrypted world and a traditional legal financial system be able to provide the legal and encrypted mechanisms for such regulations.
The other major advantages of Cardano lie in scalability, interoperability, sustainability, as everyone knows that due to huge transactional volume the big pie faces the huge transactional cost and increased execution time but Cardano has no such blockchain nightmares.
Cardano is the complete platform for developing Defi-based financial applications that easy to be audited and verified by the central authorities, Cardano blockchain opens many ways to integrate traditional business and removed the possible concerns for fraudulent and illegal characteristics behavior of blockchain.
Just like Etehreum, you can use Cardano to offer stocks, derivatives, and NFT, additionally, smart contracts on the Cardano blockchain provide diverse scenarios of utilizing the true power of the automatic smart agreements, the aim of the Cardano blockchain is to give its users to take advantages of blockchain technology, verification, identification and connectivity with the traditional financial institutes.
https://www.statista.com/statistics/1202328/average-number-cardano-transactions/
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Source: https://sajjadhussain-11869.medium.com/the-advantages-of-the-third-generation-cryptocurrency-cardano-ada-bd031f01f9a5?source=rss——-8—————–cryptocurrency
