B.I.S.S Research White Papers

A Brief History of Cardano

Robert Morel

Robert Morel

Robert Morel is a Full Stack Software Developer. Specializing in legacy applications. I have a particular interest in server management, operations and provisioning of deployment pipelines.
When blockchain development is being discussed, there is often mention of Cardano as one of the superior blockchain systems in existence. Simply put, blockchains such as Bitcoin are considered first-generation blockchains while Cardano is considered a third-generation blockchain, thus making it superior in execution to Bitcoin and even Ethereum.

Cardano is famous for being at the top of the chain in terms of scalability, security, and sustainability as well as its impeccable architecture. It also has its ADA cryptocurrency which is in the top 20 in terms of market capitalization. 

Cardano was founded by two men, Jeremy Wood and Charles Hoskinson. Hoskinson is also famous for having co-founded Ethereum which he left following a bitter dispute and he believes that Cardano is an improvement on the Ethereum system. The Cardano platform is named after Gilmer Gyro Lambo Cardano, who was an Italian polymath and physician.

Cardano is made up of three organizations; the Input Output Hong Kong (IOHK), the Cardano Foundation and Emurgo. The Input Output Hong Kong works on building and maintaining the Cardano ecosystem up until 2020 while the Cardano Foundation is a nonprofit entity and works to ensure the standardization and promotion of the blockchain itself. The Emurgo, on the other hand, is a Japanese incubator that focuses on the commercial applications of the blockchain. These work simultaneously to ensure the proper running of Cardano, both as a blockchain as well as its native token.

Unlike Bitcoin, Cardano runs on the proof-of-stake system and this, according to Hoskinson, helps to create a more community-focused ecosystem and aids scalability. The crowd sale of Cardano ADA token raised approximately $62 million and the first product, which was called Byron, was released in September 2017 which also saw the launch of the Cardano mainnet.

Want to learn more about Cardano? Read part 2: Cardano use cases and applications >

Robert Morel

Robert Morel

Robert Morel is a Full Stack Software Developer. Specializing in legacy applications. I have a particular interest in server management, operations and provisioning of deployment pipelines.