Cardano

(ADA)

Company Statement: Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers Incorporating our groundbreaking Proof of Stake algorithm, Ouroboros, the IOHK team employed a first principles approach driven by peer-reviewed academic research to build Cardano from the ground up. This unique collaborative effort steadily constructed the most precisely engineered cryptocurrency yet, a product that brings together such disciplines as distributed systems, mechanism design, and cryptography. The result is the first cryptocurrency to be based on Haskell code, an industrial strength product that delivers the resilience necessary for mission-critical systems, in this case securing investment.

Cardano’s multi-layer protocol performs advanced functions and has at its foundation a settlement layer that is elegantly linked to a control layer. The settlement layer will have a unit of account, while the control layer will run smart contracts. The control layer will be programmed to recognize the identity, assisting compliance and allowing blacklisting for instance. The protocol’s design is geared towards protecting privacy rights of users, while also considering the needs of regulators. In doing so, Cardano is the first protocol to balance these requirements in a nuanced and effective way, pioneering a new approach for cryptocurrencies. In addition, while the platform has been solidly composed, we also recognize the need for it to evolve and adapt to changing needs. Consequently, we have designed a system that can be upgraded by way of soft forks, and are installing a treasury system that will ensure the sustainability of the protocol. Completely open source and patent-free, Cardano was built in a spirit of collaboration. And engineered for efficiency and scalability, the Cardano ecosystem is developing out into the most complete and most useful cryptocurrency ever constructed.