Cardano Report



Rating +,,- Description



There are three organizations that are contributing to the development of Cardano:

  • IOHK  - Founded in 2015 by Charles Hoskinson (co-founder of Ethereum) and Jeremy Wood (managed operations at Ethereum). Engineering and tech company that is contracted to maintain Cardano through 2020.
  • Cardano Foundation - Protect, Enhance and Evolve the Cardano Ecosystem. Study and Propose Blockchain and Cryptocurrency Regulation
  • Emurgo - Develop, support, and incubate commercial ventures and help integrate these businesses into Cardano’s decentralized blockchain ecosystem



Roadmap is broken out into updates planned for the Cardano protocol.

- Byron: Enables users to trade and transfer Ada. The Cardano mainnet was also launched.

- Shelley: Ensures that the tech is in place for it to become a fully decentralized and autonomous system

- Goguen: Will see the integration of smart contracts.

-Basho: Centered around performance improvements.

-Voltaire: IOHK will add a treasury system and governance.

Regular updates are posted about roadmap work, and % complete are available online. Charles Hoskinson is a prominent figure in crypto and always does interviews highlighting recent development, and whiteboard videos are posted online about roadmap items.



Three elements that Cardano wants to solve are:


Ouroboros (Proof of Stake Algorithm)

-Ouroboros looks at the distribution of the tokens in the ecosystem and from a source of random numbers, it divides the world into epochs. Each epoch is then divided into slots. Each slot then gets its own slot leader, who is randomly chosen, to add the next block to the blockchain. To be considered for qualification, one must own 2% stake in Cardano.

- Their peer reviewed code of Ouroboros has been theoretically proven to be as secure as the Bitcoin proof-of-work algorithm. POS offers higher throughout(transaction per second)

- Partitioning - instead of having a whole blockchain, a user can simply have a chunk of the blockchain and greatly reduce the amount of data they need to store.



- Sidechains - you have a parallel chain which runs along with the main chain. The side chain will be attached to the main chain via a two-way peg.

Sidechains hope to allow a compressed version of the blockchain, creating interoperability between chains and legacy financial systems .



Every time a block is added to the chain, a part of that block reward will be added to the treasury. If someone wants to develop and bring some changes to the ecosystem, they submit a ballot to the Treasury to ask for grants. Stakeholders of Cardano then vote and decide if the ballot should be granted or not.


Currently not all aspects of Cardano’s protocol are live on their mainnet(smart contracts, Proof of Stake), but extensive academic peer review of their code is done and there is a testnet for unreleased features.


The team does not do a lot of marketing as they believe the tech should be the most important aspect. Emurgo works to incubate commercial ventures, but not in a paid marketing approach. Instead, they reach out and offer pilot programs using Cardano.



There are individual white papers for planned roadmap updates. Cardano code and white papers are peer-reviewed and approved prior to release.



Very active GitHub, which shows developers are hard at work on Cardano code.

Token Economics

Circulating Supply: 25.9 Billion ADA

Max Supply: 45 Billion ADA

ADA is the native token for the accounting layer (staking & value transfer), the computation layer (smart contracts) and the treasury.

When Ouroboros is released, an inflation rate will dictate how many ADA are mined per block. This will adjust over time to never create more than 45 Billion total.

A treasury will be created to reserve a portion of total ADA for future updates to the network, as voted by all token holders.

Need (Purpose)


Cardano is targeting developing countries that are currently unbanked and don't have personal data tracking(identification, property rights).

Want to be a 3rd generation blockchain that will have scalability and governance to solve real world use cases



Very ethical and transparent team. Many contributors are proven in the crypto industry

Final Rating:+

Comments: Cardano is one of the most robust cryptocurrency projects currently in development. Their emphasis to an academic philosophy of peer-reviewed code, is not common for most projects. Both co-founders of IOHK have experience from Ethereum, and hope that Cardano has learned from the limitations of Ethereum and aim to build a 3rd generation blockchain protocol.

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