A prominent cryptocurrency analyst Josh Olszewicz looked into the price action of one of the hottest crypto assets this year, Ethereum competitor Cardano (ADA).
Cardano (ADA) is a smart contract proof-of-stake blockchain platform focused on peer-review and scientific study, marketed as a “third generation blockchain.” The ADA development roadmap includes five distinct phases; Byron, Shelley, Goguen, Basho, and Voltaire with three eras; testnet, bootstrap, and reward. Although currently in the bootstrap era, development occurs concurrently between all five phases.
The blockchain will eventually have two layers, the Cardano Settlement Layer (CSL) and Cardano Computation Layer (CCL). The blockchain will also support two scripting languages, Simon and Plutus, as well as sidechains. Currently, 32% of ADA network consensus is controlled by IOHK, Emurgo, and the Cardano Foundation.
Cardano has had an exciting year so far, but the culmination event is still to come in 11 days: the widely anticipated launch of smart contract capability on Cardano network.
