Cardano

The success of Bitcoin and Ethereum has shown the world that cryptocurrencies are a viable way to store money and pay for things. Many other coins followed in its aftermath, each seeking to entice people differently. Today, we’re taking a look at Cardano, a new cryptocurrency established by Jeremy Wood, one of the people behind Ethereum.

This page will go over what Cardano is and if it’s good for online casino transactions.

What is Cardano?

Cardano is a cryptocurrency: a digital coin named after popular Italian mathematician Gerolamo Cardano. Unlike most cryptocurrencies, Cardano sets out to develop its network from scratch. It’s a third-generation blockchain platform implementing new ideas like the Ouroboros Proof of Stake (PoS) protocol and layered blockchain architecture. The latter ensures Cardano avoids problems other cryptocurrencies face, such as network congestion, high fees, and slow transactions.

There are no restrictions on who can own Cardano coins. Thanks to that, this cryptocurrency is available globally.

Cardano Account

Buying Cardano requires an account in one of the many online cryptocurrency exchanges. Additionally, you need a crypto wallet to store your funds in.

Company

Cardano is run by the Cardano Foundation, a Swiss non-profit organization founded in 2015. Its task is to advance the public digital infrastructure for Cardano and facilitate its advancement. In 2021, Cardano reached a $77 billion market cap, the fourth highest for any cryptocurrency at that time.

Alongside the Cardano Foundation, the cryptocurrency is also governed by IOHK and Emurgo. The former is an engineering company responsible for building the blockchain, while the latter develops commercial applications.