Today one of the technologies that are evolving is blockchain technology. Bitcoin was the first blockchain technology that seeks a lot of attention in the world. And due to this, there was more and more effort put into building a successful centralized network. Many blockchains perform tasks for solving the problem of scalability in such a technology. Two such technologies are the Algorand and Cardano.
Algorand vs Cardano
The main difference between Algorand and Cardano is that the Algorand technology was developed to employ the other technologies with the pure proof of stake, which deals in issues that shows the scalability, and on the other hand, the Cardano technology was Invented, which helps in addressing the issues related to operability and ease of development.
The platform of Algorand and was launched and released in the year 2019 in June. This was launched for solving the problem related to the blockchain. This problem stated that a blockchain platform cannot have all 3 terms that are the decentralization scalability as well as security, and to have all these 3 one platforms was created, which was named the Algorand platform.
The Cardano is a platform that was launched On 29th September 2017. This was invented by Charles Hoskinson, who was the CEO and Co-founder of etherium. The main aim for launching this platform to know the issue related to scalability. This program does not give the full proof of work in an algorithm as Bitcoin does.
Comparison Table Between Algorand and Cardano
| Parameters of Comparison | Algorand | Cardano |
| Main function | This helps in employing a consensus level of security by preventing attractors From correcting the users taking control. | This is a technology that is used as a protocol since it uses no kind of Bitcoin code. |
| Language | This makes use of the transaction execution approval language. | This makes use of the Haskell and Plutus programming languages. |
| Year of Launch | This was launched in the year 2019 | This was launched in the year 2017. |
| Designed by | This was designed by the famous personality Silvio Micali. | This was designed by the famous personality Charles Hoskinson. |
| Characteristic | This technology was developed to employ the other technologies with the pure proof of stake, which deals in issues that shows scalability. | This technology was Invented, which helps in addressing the issues related to operability and ease of development. |
What is Algorand?
The algorithm loses a version called the PPOS, which is known as the pure proof of stake mechanism. This helps to select a person holding a token as a block producer. After this, the block which is proposed is set for approval by a committee of 1000 randomly selected token owners, which are then added to the blockchain.
The algorithm runs through a verifiable lucky draw which runs cryptographically according to the randomly selected committee members. The Al Gore end introduces a novel technology that prevents users from forgery of messages or signatures in a system that can have a mass of acquiring multiple signatures of a single person.
The Algorand uses a distinctive feature known as smart contracts. The language through which this kind of technology proceeds is known as transaction execution approvable language. The short form of this is known as TEAL. This technology was launched by Silvio Micali who was an IT professor. He won a Nobel Prize for inventing such a useful technology.
What is Cardano?
The technology of Cardano was made for allowing stakeholders allowing them to pool the resources they had together in a single pole known as the Stake pool. This is done because every stakeholder who’s elected cannot be assumed to be an expert in creating blocks. The timelines are further divided into small blocks, which are known as epochs, which are made up of fixed slots.
These fix slots keep on rotating cyclically. Each epoch holds a set of pooled stakeholders. The stock leader for the present also selects the slot leader for the next epoch. This is done through a toss-in coin. This does not mean that a person having a higher state will have higher profitability of getting elected.
Cardano is an open-sourced code. This enables languages to put developers to contribute easily. The first project which utilized the Haskell and Plutus programming languages was the Cardano. This kind of blockchain uses an academic review that is pure. The Cardano technology proceeds with the assumption that cryptocurrency would be regulated one day at the forefront of the regulatory process in the world because of the efforts made.
Main Differences Between Algorand and Cardano
- In Algorand, it helps in employing a consensus level of security by preventing attractors from correcting the users taking control, and on the other hand, the Cardano is a technology that is used as a protocol since it uses no kind of Bitcoin code.
- The Algorand makes use of the transaction execution approval language, and on the other hand, the Cardano makes use of the Haskell and Plutus programming languages.
- The Algorand was launched in the year 2019. End, on the other hand, the Cardano was launched in the year 2017.
- Algorand was launched by the famous personality Silvio Micali, and turn the other hand, the Cardano was developed by the famous personality Charles Hoskinson.
- The term Algorand has 8 letters, and on the other hand, the term Cardano has 7 letters.
Conclusion
Due to the advanced technology which has arrived today, man is evolving day by day. Everything and every work are done faster, which saves time through these extended versions of technologies available today. Two such technologies were the Algorand and Cardano. The Algorand and Cardano have vast differences between them even though they both terms come under the same root of IT.
A person wanting to pursue his career in the subject of information technology should know the differences between what an Algorand means and what a Cardano means. Both these technologies have differences between them which lie in how they perform their functions, how they possess the characteristics etc.
References
- https://files.ifi.uzh.ch/CSG/staff/Rafati/Kursat_IS.pdf
- https://arxiv.org/abs/2009.12140