Designed by IOHK personnel, Cardano’s innovations include offering a secure, proof of stake algorithm, one which has been peer-reviewed by cryptographers at the Crypto 2017 conference. It is also scalable and designed in separate layers to facilitate future upgrades. Ada runs on its own blockchain, with a second layer running smart contracts that use Plutus, a Haskell-inspired scripting language.
Cardamon’s roadmap is designed to interact with legacy financial systems by using a treasury and governance system, sidechains, trusted hardware and the addition of metadata to allow for more sophisticated financial transactions.
“The listing on Bittrex is an exciting stage in the development of the Cardano protocol and is another step towards realising a new world of decentralized applications,” Cardano Foundation Chairman Michael Parsons said. “Cardano has the potential to democratise finance, particularly in emerging markets. Its blockchain protects privacy while allowing for regulation and is built on a stable and secure platform.”
“IOHK is proud to have provided the vision and technology for Cardamon,” IOHK CEO Charles Hopkinson said. “It incorporates our groundbreaking proof-of-stake algorithm, Ouroboros, and the technology is highly innovative in the area of blockchain. With a roadmap including many exciting features such a treasury system and trusted hardware, Cardano is uniquely placed to be sustainable and scalable.”