Cardano is a decentralized open source blockchain project. Cardano strives to build a smart contract platform that will have more advanced functions than the competition. The Cardano coin is described as the Ethereum killer, although this term is actually used for every smart contract platform. Cardano is certainly a competitor for Ethereum if the project is able to deliver on its promises. Buy Cardano easily, quickly and safely at Coinmerce!
Cardano was started by Input Output Hong Kong. A company that focuses on the development of blockchains. IOHK was founded by Charles Hoskinson, co-founder of the coins Ethereum and Bitshares. Hoskinson has the necessary experience within the blockchain industry and is an established name.
The project (based in Singapore) is currently in the second of a total of five phases. The first phase is called Byron and is mainly about improving the core protocol. The transition to phase two, Shelley was done in June of 2018, this phase is focused on decentralizing the project. The planning for the other three phases is not yet known. Cardano is a promising but relatively young project. The development has been going on for two years now but the network has only been online since September 2017. The cryptocurrency has flown into the top ten within a short period of time.
Cardano, like all other smart contract platforms, is a project that aims to grow the ecosystem. These other smart contract platforms are therefore the direct competition for Cardano. Examples are: Ethereum, NEO, Waves, Stratis, EOS, Lisk, Qtum and VeChain.
The maximum supply of ADA is limited to 25 billion. This can be up to 31 billion. The remaining 6 billion are created by mining.