eToro Releases Cardano Market Research Report

On July 17, 2018, eToro, the world's largest social investing platform, published a market research report on Cardano - the eighth largest cryptocurrency by market cap.

The Cardano research summary by eToro's Senior Market Analyst, Mati Greenspace dives into Cardano's team, history, development, use cases, technical components, and it's roadmap.

Together with Jeremy Wood, Charles Hoskinson, former co-founder of Ethereum, founded Input Output Hong Kong - the entity responsible for the funding and development of the Cardano network.

Shelley will introduce key elements for a decentralized and secure Cardano network.

Goguen will showcase a language specifically designed for Cardano and implement a virtual machine while Voltaire and Basho are designated for the scalability of the Cardano network and focus on governance.

"Even though Cardano is still in the early stages of it's [sic] roadmap it is definitely one of the most promising blockchain projects we've ever seen. It is also the first blockchain project that is being developed using a collective scientific philosophy, based on peer-reviewed scientific research. A great number of its most important features are still under development."

The report details that Cardano implements a 'complete' blockchain-based environment where smart contracts, decentralized applications, and secure, quick transactions are readily available.

The report then goes into Cardano's consensus algorithm- which is what separates Cardano from Ethereum and Bitcoin.

Currently, the Cardano network is run by nodes controlled by the three governing bodies of Cardano- IOHK, the Cardano Foundation, and Emurgo.

"Cryptocurrency markets are associated with high volatility, and Cardano is no exception. The project is still in a relatively early stage, and the roadmap is very long, so although the potential of the project is vast, as outlined in the previous sections, it is important to consider that the short-term fluctuations will depend mostly on speculation."