Cardano-an open source cryptocurrency project-takes a pragmatic approach to developing a blockchain platform. The bet is that its “scientific philosophy” and peer-reviewed research will give the infrastructure unmatched in scalability and efficiency.

So far, Cardano already boasts a market capitalization of just over $1 billion and ranks 12th among all cryptocurrencies, just two years after it was founded by Charles Hoskinson, co-founder of Ethereum. Cardono currency is called Ada, which can be bought, sold or traded through digital currency exchanges.

Although it calls itself a decentralized public blockchain, the current iteration of the Cardano blockchain is quite centralized, transactions on the network are handled by a federated group of validators in three organizations. These organizations, the Cardano Foundation, Emurgo, and the Hong Kong entry (IOHK), are currently contributing to the creation of an updated, public version of the platform. The new version, dubbed “Shelly,” is a long-awaited public proof-of-Stake, PoS-based chain that is designed to be more scalable and decentralized than its current iteration.

The ADA Fundamental Crypto Asset Score (FCAS) is down 2.71% over the past 30 days. Developer behavior fell by 6 points (-0.64%) user activity decreased by 54 points (-6.32%). The market term rose 23 points (3.25%). The price dropped by 10.70% over the same time period.

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The cryptocurrency platform Wars continue to rage on. Projects invest heavily in research and development to promote solutions as competitive advantages. Ultimately, all these platforms want adoption, from businesses to DApps, and the customers they bring with them.

Among the platforms generating on the battlefield, including EOS, Cosmos, Tezos, and Cardano, many are PoS protocols. Also, with Ethereum’s transition to PoS Serenity fully underway, this underscores the industry’s collective transition away from Proof-of-Work (PoW). However, PoS protocols still do not match the sustainability and acceptance levels of their pow counterparts. Bitcoin’s dominance reigns, and at least for now, even Ethereum itself is an emblem of pow reliability. For Cardano, It remains to be seen if their scientific approach will PoS the industry’s white knight.

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