$ADA: Cardano Foundation Explains Blockchain’s Appeal for Project Creation
The Cardano Foundation recently outlined the many benefits of using the Cardano ($ADA) blockchain as a preferred platform for project development.
Among the most important benefits they mentioned are the following:
- Superior efficiency in data management: Cardano can accommodate up to 16 KB of data in a single transaction, streamlining the processing of information.
- More than adequate data storage capabilities: Platform metadata records can contain all necessary data to comply with international industry regulations.
- Programming flexibility: Developers can choose their preferred mainstream or specialized programming language when working with Cardano.
- Cost predictability: Fees are directly proportional to the resources consumed, such as memory, CPU and storage.
- Early detection of failed transactions: The outcome of transactions can be determined in advance, allowing users to anticipate errors.
- Easy scaling: Cardano simplifies cost forecasting and facilitates the scaling of applications.
Sophisticated metadata applications
- Customization at a low cost: Cardano allows users to choose any type of information for embedding as metadata, offering high levels of customizability.
- Compliance with international data standards: The platform’s metadata records can store all important information needed to meet transparency obligations.
- Extensive adaptability: Flexible metadata records on Cardano can accommodate a wide variety of applications and microtransactions, meeting different needs and goals.
- Guaranteed accuracy and authenticity: Metadata records can be verified by professional third parties and end users, guaranteeing their authenticity and accuracy.
IO Global (“IOG”), the company responsible for Cardano’s research and development,
has released its latest weekly progress report, which provides an insight into the ongoing progress and improvements in the project.
The report (which is for the week ending March 24) covers various aspects of Cardano’s technology, wallets and services, smart contracts, scaling and governance. The report included an infographic highlighting various Cardano statistics, such as 118 projects launched on Cardano, 8.03 million native tokens created, 7,489 Plutus scripts, 1,215 projects built on Cardano, and 63.5 million transactions processed on the network.
