Cryptocurrency Cardano was the first one that included the provably secure Ouroboros protocol using the proof-of-stake algorithm. Steaking on this protocol is considered the most attractive, because it takes into account not only the number of coins and the number of days of their retention, but also the chain of followers up to the hundredth knee. This led to an increase in interest in the cryptocurrency Cardano, and its capitalization reached $3 billion, giving it the 11th place in the overall standings of crypto tools.
However, the main events for this cryptocurrency are yet to come. The main task set by the leadership is to achieve the widespread use of blockchain technology in all areas of human life. This requires the ability to integrate blockchain into an existing IT environment with code writing in more accessible languages (IOHK, Plutus and Marlowe), including decentralized applications (dapps). The third phase of the Mapano-based ecosystem is named after scientist Joseph Gauguin.
Unlike a number of other projects, this ecosystem will be able to easily integrate into existing applications by having a compatible platform. Product manager Nebojsa Vojvodich calls the Gauguin phase an important building block in the creation of a global social and financial system based on Cardano, which will allow both IOHK and other companies to develop their own solutions for applications in supply chain, real estate management or decentralized finance.
On Sunday, Cardano founder Charles Hoskinson informed investors that the upcoming network update is well underway, and they are gradually catching up with their own schedule. This led to an increase of 11.5%.
But the real breakthrough of this cryptocurrency expects after the successful passage of the third phase of the sweep, near the end of the first quarter of next year. A number of investors have already started buying Cardano: the cryptocurrency exchange StormGain has seen an increase in the volume of trading of this coin, and the portal Coinmarketcap records an increase in its value by 20% in the last 7 days.
One of the features that Gauguin will provide to users will be the ability to conduct transactions between different blockchains directly without the use of third-party products such as Hyperledger. This will significantly increase the speed at which digital exchanges are made, as well as have a positive impact on commissions.
