Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
75
ALERTS
Jul 06, 2022

Developers have delayed Vasil hard fork upgrade.

Jun 28, 2022

Read only channel.

Jun 22, 2022

No commit since 2020.

REVIEW NOTES
Aug 17, 2022

Ecosystem score decreased due to updates in foundational tools, documentation and protocol support

Jun 29, 2022

Community score decreased due to hidden Telegram online members.

Jun 28, 2022

Protocol score decreased due to read-only slack channel.

Jun 24, 2022

Foundation score increased due to introduction of Glow language.

Jun 23, 2022

Add-Ons score increased due to launch of bridge.

PERFORMANCE
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100
NODES

3,198 nodes

WRITE SPEED

80,250 ms

READ SPEED

17 ms

GAS FEES

175,225 lovelace

UP TIME

100%

PERFORMANCE MATRIX VALUE MONITORED AT
Uptime Percentage 100%
Reddit Total Members Online 2,300 members
Reddit Total Members 698,000 members
Discord Total Subscribers Online 1,549 subscribers
Discord Total Subscribers 10,799 subscribers
Telegram Err 25 err
Telegram Ppm 13 ppm
Telegram Views Per Post 19,450 views
Telegram Total Subscribers Online 1,438 subscribers
Telegram Total Subscribers 34,831 subscribers
Node Count 3,198 nodes
Read Speed 17 ms
Write Speed 80,250 ms
Gas Fee 175,225 lovelace
FOUNDATION TOOLS
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41
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
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60
API DOCUMENTATION

Exists

50
NODE SETUP

Exists

100
SKELETON CODE

Exists

50
VALIDATOR NODES

Exists

40
GRANT PROGRAM
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50
AVAILABLE GRANT

$62.2M

ADD-ONS
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81
THIRD PARTY SERVICES
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100
PROTOCOL SUPPORT
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40
ADOPTION
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100
DEVELOPERS

1,660

REPOSITORIES

12

COMMUNITY
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100

Overview

Cardano is a decentralized open-source, public blockchain platform facilitating P2P transactions with its internal cryptocurrency, ADA. It is the third-generation proof-of-stake blockchain designed to provide increased scalability, interoperability and sustainability.

Founder

Charles Hoskinson is an American entrepreneur who co-founded Input-Output, a blockchain engineering firm, and the Cardano blockchain platform.

Charles Hoskinson is a technology entrepreneur and mathematician from Colorado. Prior to entering into cryptography through industrial exposure, he studied Number Theory and Mathematical Logic at the Metropolitan State University of Denver and the University of Colorado at Boulder.

He has held a range of interesting jobs in the public and commercial sectors, including creating two Bitcoin-related start-ups, Invictus Innovations and Ethereum. He founded the non-profit Cryptocurrency Research Group in September 2013 and was the inaugural chairman of the Bitcoin Foundation's education committee.

His current efforts are around bitcoin teaching, decentralization evangelism, and making cryptography tools more accessible to the general public.

About Cardano

Cardano development began in 2015 by Charles Hoskinson. A scalable and adaptive platform with no compromise on security, Cardano is an open-source blockchain with a layered architecture facilitating smart contract development.

Cardano differs from other blockchain projects because it takes a data-driven and academic approach to its development. Expert engineers and developers can weigh in on the network's future path because the papers defining the model and plans are publicly available (interestingly, no whitepaper was published for Cardano). Furthermore, the platform is built on the Ouroboros blockchain, the first peer-reviewed proof-of-stake (PoS) blockchain.

Architecture: CSL and CCL

The Cardano Settlement Layer (CSL) and the Cardano Computational Layer (CCL) are the two fundamental components of Cardano's layered blockchain design, which makes it genuinely unique. Most present blockchain platforms only have a single layer of functionality, which frequently causes network congestion, hinders transactions, and raises fees.

The CSL powers Cardano's accounting section. This is where peer-to-peer transactions, such as the exchange of tokens between users, are facilitated.

CCL ensures the chain's security, functions as a hub for smart contract deployment, and is a foundation for the network's aims, including regulatory compliance with various jurisdictions. In addition, CCL will make data more adaptable.

Consensus

Cardano is based on the Ouroboros consensus protocol, which is a proof-of-stake protocol.

The algorithm used to build blocks and validate transactions is at the heart of any blockchain network. Cardano mines blocks with Ouroboros, an algorithm that employs the proof-of-stake (PoS) protocol. Experts in cryptography and engineering collaborated to create Ouroboros. It is built on scientific and mathematical ideas to improve the platform's efficiency and security.

Cardano's proof-of-stake protocol is meant to reduce energy consumption throughout the block manufacturing process. This protocol also contains a consensus method that is indefinitely scalable. The platform's scalability and energy efficiency enable simple mining and speedy transaction times.

Cardano Smart Contract

Cardano was built from the ground up to take advantage of smart contract technology to its maximum potential. With its smart contract functionality, the platform will be able to create self-executing contracts that do not require professional oversight. Anyone on the platform can easily input any specific condition that must be met, and smart contracts will automatically execute them without the need for a user's continual engagement.

Smart contracts will be deployed on the Cardano network, allowing for the support of decentralized apps (DApps). The Cardano philosophy's ultimate goal is to make services that were previously only available in the traditional financial realm more accessible and inclusive using new blockchain technologies.