In this review of Cardano, I'm going to speak in layman's terms as best I can. I'm doing this since some of my previous posts about the coin may have gone above some peoples head if they happen to not be as much in the know as most Cardano followers are.
Full disclosure, if I could pick one crypto currency to hold 100% of long term that currency would be Cardano. I have some very good reasons, but here is a non technical attempt to explain why!
So Cardano is no different from Ethereum in terms of the market it is looking to serve. It is going to be a blockchain for other developers to build on top of.
Since Cardano has been in development the past 3 years, there has been almost zero DAPPs built on top of it. Since the launch of Shelly, it is now operating Proof of Stake on it's standalone blockchain. This is where the recent price action and hype comes into play. The hype factor will only compound over time as new DAPPs are built, especially if any seem promising to the general crypto community.
Charles Hoskinson, CEO of IOHK, the engineers behind the ADA blockchain, thought about how to make a better Ethereum. He did this by formulating a solid team and thinking of a blockchain that's written in a academically pier re-viewable way, the answer was the programming language Haskell.
So I don't know anything about programming languages, but I do know how to make some nasty formulas in excel. I know the difference between static code and dynamic code and when that can be more effective. With the ever evolving atmosphere we constantly see in crypto, Charles is brilliant for writing a blockchain in Haskell because of its ability to be dynamic since it is based on mathematics.
This means that Cardano can quickly adapt to any changes without having to go in and rewrite the mapping of the code in its entirety. Charles also argues that this is why the Ethereum team constantly over promises and under delivers, because the ability to make the changes in the Ethereum code are so difficult and lead to major bugs.
The other thing to note, when comparing ADA to ETH, is that ETH is written in Solidity and this is not a common programming language among the general developer community, so there is less talent and resources to pull from. Basically ETH locks themselves into a small niche group of developers that may struggle to get them out of some complex challenges.
I mentioned it before but the governance behind Cardano is the number one thing to invest in, in my opinion at least. That's because this is the sustainability factor that is required in any business. So many things and ideas can be copied, but what can't be copied is people. I think Charles understood this when deciding to write his blockchain in Haskell.
The Haskell community is not only huge, but talented. There are plenty of members already on the ADA team with serious credentials that would make the highest ranking member of ETH look entry-level. The community behind ADA is the fundamental reason why I am long on the coin!
I hope you enjoyed and learned something from my simple review of Cardano!
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