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Cardano was founded back in 2017, and named after the 16th century Italian polymath Gerolamo Cardano. The native ADA token takes its name from the 19th century mathematician Ada Lovelace, widely regarded as the world’s first computer programmer. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.
Charles Hoskinson, the founder of Cardano foundation speaking on 2021 achievements, he said hundreds to thousands of assets were expected to be built on Cardano, but surprisingly the number surged to 2 million assets in 2021.
He also highlighted “Next year, what’s going to happen is that a formal open-source project structure is going to be formed, kind of like Hyperledger to Linux. We’re going to see many institutions wired in, and all the people that are currently working on it will be novated over, including me.”
Developing Countries
Cordano Foundation aiming at helping people in the developing countries and activate the DeFi systems and have an end-to-end microfinance transactions in Cordano.
My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano.
So that a real person in Kenya or somewhere with a blockchain-based identity and credit score, stable coin on the other side, Cardano is the settlement rail. Peer-to-peer, person-to-person, click a button, loan goes to them. They pay it back, (and it) goes to the other side, he said.
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