How To Stake Cardano From Ledger

Public blockchain platform

Cardano

Original author(s)	Charles Hoskinson
Programmer(s)	Cardano Foundation, IOHK, EMURGO
Initial release	27 September 2017 (5 years ago)  (2017-09-27) [1]
Stable release	ane.34.ane / seven March 2022 (9 months ago)  (2022-03-07) [2]
Development status	Active
Written in	Haskell
Operating system	Cantankerous-platform
Blazon	Distributed computing
License	Apache License
Agile hosts	four,672[3]
Website	cardano.org

Cardano
is a public blockchain platform. Information technology is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency,
ADA.^[four]

Cardano’south evolution began in 2015, led by Ethereum co-founder Charles Hoskinson. The projection is overseen and supervized by the Cardano Foundation based in Zug, Switzerland.^{[5]
[half-dozen]}
When launched in 2017, information technology was the largest cryptocurrency to employ a proof-of-stake blockchain, which is seen as a greener alternative to proof-of-work protocols.^[vii]

Background

Charles Hoskinson and Jeremy Wood prepare out their plans for Cardano in 2015, with the platform launching in 2017.^[8]
[9]
[10]
Hoskinson had left Ethereum afterwards a dispute with another co-founder, Vitalik Buterin. Hoskinson wanted to accept venture uppercase and create a company, while Buterin wanted to keep information technology as a nonprofit organization. Afterwards leaving, Hoskinson co-founded IOHK, a blockchain-engineering visitor, whose primary business is the evolution of Cardano, alongside the Cardano Foundation and Emurgo.^[10]
The platform is named afterwards Italian mathematician Gerolamo Cardano, while the cryptocurrency itself is named after the English mathematician Ada Lovelace. The Ada sub-unit is the Lovelace; one Ada = 1,000,000 Lovelaces.^[11]

Technical aspects

Atypically, Cardano does non have a white paper. Instead, it uses design principles intended to overcome issues faced past earlier cryptocurrencies such as scalability, interoperability, and regulatory compliance.^[12]
Cardano claims that it overcomes problems in the crypto market: mainly that Bitcoin is too ho-hum and inflexible, and that Ethereum is not safe or scalable.^[13]

Cardano used a proof-of-stake protocol named Ouroboros;^[xiv]
this was in contrast to Bitcoin and Ethereum, which used proof-of-work protocols (though the latter switched over in 2022).^[15]
Proof-of-stake blockchains use far less energy than proof-of-work chains.^[15]
In February 2021, Hoskinson estimated the Cardano network used half-dozen GWh annually, less than 0.01% of the 110.53 TWh used by the Bitcoin network as calculated past the University of Cambridge.^{[sixteen]
[17]}

Within the Cardano platform, Ada exists on the settlement layer. This layer is similar to Bitcoin and keeps runway of transactions. The second layer is the computation layer. This layer is designed to be similar to Ethereum, enabling smart contracts and applications to run on the platform.^[13]

Like Bitcoin, Cardano uses a UTXO ledger model, though information technology is an extended version (EUTXO)^{[eighteen]
[nineteen]}
to facilitate smart contracts and scripting languages.^[xx]

Cardano implemented decentralized finance (DeFi) services on September 12, 2021, including an upgrade to enable smart contracts and the ability to build decentralized applications (DApps).^[21]
As well included is Plutus, a Turing-complete smart contract language written in Haskell, and a specialized smart contract language, Marlowe, designed for not-programmers in the financial sector. Cardano’s smart contract languages allow developers to run end-to-end tests on their programme without leaving the integrated development surround or deploying their lawmaking.^[22]
[23]

History

Cardano was funded through an initial coin offer (ICO).^[24]
Cardano reached a market cap of $77 billion in May 2021, which was the fourth highest for a cryptocurrency at that time.^[25]
[26]

In 2017, IOHK partnered with the University of Edinburgh to launch the Blockchain Technology Laboratory.^{[27]
[28]
[29]}

Advertizing agency MBLM ranked Cardano 26th for brand intimacy out of 600 brands in August 2022, in between Ford and Nestlé and the highest rank for a cryptocurrency. Citing an MBLM partner, advertising industry mag
Advertisement Age
said Cardano’s high ranking “can likely be chalked up to the gambling element of crypt”.^[thirty]

Applications

In 2019, the Ministry of Education in the country of Georgia signed a memorandum of understanding with the Costless University of Tbilisi to use Cardano and Atala, IOHK’s decentralized identity software, to build a credential verification system for Georgia.^[31]

In 2019, New Balance announced a pilot program on the Cardano blockchain and so buyers could track the authenticity of OMN1S Kawhi Leonard basketball shoes.^[32]

IOHK appear a partnership in 2018 with the Ethiopian regime to investigate ways to deploy Cardano in the land.^[33]
In April 2021, IOHK and the Ethiopia Ministry of Education announced plans for an identity and record-keeping system on Cardano and Atala for the country’due south five million school pupils.^[34]

In 2021 Hoskinson began working with electronic dance music DJ Paul Oakenfold to release an album,
Zombie Lobster,
on the Cardano blockchain.^[35]

References

External links

• 
  Official website