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First, you need to know about the entire thing about cardano blockchain and its functions.
What is cardano?
Cardano is nothing but it just like a cryptocurrency. Cardano is a technological platform with smart contract based platform, that will be capable of sending and receiving digital currencies and performs financial applications which are currently used every day by individuals, organizations and governments.
Cardano platform is built by combination of different layers, which gives the system the more flexibility and it to be more easily maintained which allow upgrades by way of soft forks. Eventhough, cardano offers scalability and security by the presence of different layers.
Their main function of is to “standardize, protect, and promote the Cardano Protocol technology”.
For three main functions cardano has invented:
The Cardano team wants to adhere to a set of principles and philosophies. They did not set out with a proper roadmap or a white paper. Instead, they focused on embracing a “collection of design principles, engineering best practices, and avenues for exploration.”
Cardano it’s a blockchain explorer:
Cardano has its own Block Explorer. This is a useful tool that can be used to check the history of transactions that have taken place on the Cardano blockchain.
All Ada transactions are publicly recorded on the blockchain and you can search to find details about any one of them. Information you will be able to see includes the amount of Ada sent, the public address of the sender, and the time and date of the transaction.
The Cardano Block Explorer can help you check transactions on the Cardano testnet, which is running now, as well as on the real version of the network, which is to be launched soon. (The Cardano Testnet is a pilot version of the network on which engineers are running tests to make sure it is operating smoothly and securely before the launch of the real network.)
Developers are building the capabilities of the Cardano Block Explorer and it is planned to become a complete resource which will contain statistics, charts, and many more features.
Principles that are directly taken from the cardano website:
· Separation of accounting and computation into different layers.
· Implementation of core components in highly modular functional code
· Small groups of academics and developers competing with peer-reviewed research
· Heavy use of interdisciplinary teams including early use of InfoSec experts
· Fast iteration between white papers, implementation and new research required to correct issues discovered during review
· Building in the ability to upgrade post-deployed systems without destroying the network
· Development of a decentralized funding mechanism for future work
· A long-term view on improving the design of cryptocurrencies so they can work on mobile devices with a reasonable and secure user experience
· Bringing stakeholders closer to the operations and maintenance of their cryptocurrency
· Acknowledging the need to account for multiple assets in the same ledger
· Abstracting transactions to include optional metadata in order to better conform to the needs of legacy systems
· Learning from the nearly 1,000 altcoins by embracing features that make sense
· Adopt a standards-driven process inspired by the Internet Engineering Task Force using a dedicated foundation to lock down the final protocol design
· Explore the social elements of commerce.
· Find a healthy middle ground for regulators to interact with commerce without compromising some core principles inherited from Bitcoin.
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