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The Cardano system is one of the latest trends prevailing in the cryptocurrency world. It was released in 2017, being considered as a third-generation system. Charles Hoskinson, the founder of Ethereum, co-founded the Cardano system. This system is being built to do away with the problems related to the scaling and infrastructure of the system. Such problems are associated with the cryptocurrency structure of the first and second generations.
The Cardano DEX system is built on five major pillars- people, technology, purpose, research, and opportunity. Let us discuss each of these points.
People
The major aim of the Cardano community is the people that they serve. All the thought leaders, engineers, and scientists work towards a common goal- create a platform filled with technology that can initiate the positive changes needed by this world. They consider technology to be the driving factor for redefining the future. The worth of any task is measured by the results and not the challenge that it undertakes.
The Cardano ADA holders are also a holder of a stake in the network. They prefer to store ADA in wallets and can be used to earn rewards at stake pools. They can also be used to be a part of the successful network running. Such ADAs can also be used as a pledge to the stake pool so that the pool’s likelihood of receiving rewards increases.
Technology
Cardano aims at providing state-of-the-art technologies in upholding the features that it provides to its users. They have a scientific approach to their problems. They love to challenge the old system and build a future based on its technologies instead of the past. They also aim their technology on the sustainability of their approach.
Purpose
The major purpose of the Cardano system is to prepare a platform for a sustainable future. Such a platform is designed to provide assistance for users to trust each other, work together better, and prepare solutions to problems on a global scale. It can be considered a form of technological revolution offering a newer template for working, interacting, and creating businesses, societies, and individuals.
Research
The Cardano system keeps science and research be its top priorities to structure its technology. They consider research that are peer-reviewed, allowing them to get inputs from different groups in their blockchain platform. Such a system allows their idea to be challenged before they are finalized. As a result, all their approaches go through several rounds of grueling and challenges before they are finalized.
Opportunity
As stated earlier, Cardano provides the platform for new-age technologies, methodologies, and models for helping developers, individuals, and enterprises. They will identify the changes in this system and will be encouraged to use them for their benefit. The blockchain nature holds the key to a number of different societal, financial, and technological problems generally encountered in other cryptocurrency systems.
These are the five major pillars that support the Cardano DEX system. These pillars have helped Cardano in its rapid rise after its introduction in 2017. If you start using this platform for your transactions, you will be able to enjoy all the benefits that it offers.
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