Why Cardano?
Cardano is a decentralized third-generation proof-of-stake blockchain platform. While it shares characteristics and applications with other blockchain platforms like Ethereum, Cardano is first blockchain platform to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies.
From a plethora of blockchains available in the market, the decision to select Cardano has been made because Cardano has the potential to become the de facto blockchain platform for the financial world.
Cardano’s efforts and core principles are aligned with Genius Yield’s goal of making DeFi available for the masses.
With Cardano, Genius Yield will create a global DeFi ecosystem enriched with security and authenticity.
By using Cardano, Genius Yield will be able to fulfill its dream of being a fully decentralized community.
Cardano's main reason has been founded to eradicate the complications of existing blockchain platforms in terms of scalability and security.
The project was initiated in 2015 by Input-Output Hong Kong (IOHK), a company managed by Ethereum Co-Founder Charles Hoskinson in 2015.
Cardano was conceptionally designed to facilitate DeFi for the masses. It allows developers to build scalable and secure applications quickly with Cardano's native governance token ADA powering seamless financial transactions.
Cardano currently has a market capitalization of more than $73 billion, making it one of the largest decentralized networks in the world.
The main reason why Cardano offers Genius Yield a perfect DeFi ecosystem is its outstanding technical features.
Cardano's Settlement Layer (CSL) allows the secure transfer of ADA between accounts. This is further complemented by Cardano's Computational Layer (CCL), the smart contract logic layer that dictates the transfer of assets.
The consensus applied by Cardano is the Ouroboros protocol. From the decentralization perspective Cardano is maintained by separate organizations eradicating the chance of monopoly or manipulations.
Additionally, the Alonzo upgrade is en route to place Cardano on the map of the DeFi revolution. It will enable developers to build smart contracts on Cardano.
Alonzo has been released in September 2021, which is why Genius Yield is committed to be one of the world's first projects that is powered by Alonzo.
Last modified 30d ago
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