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Decentralized Applications (dApps)
Decentralized Applications (dApps) on Cardano are blockchain-based applications that operate in a decentralized manner, without the need for intermediaries or centralized control. These applications are powered by smart contracts written in Cardano’s Plutus programming language, which enables them to execute pre-defined rules autonomously on the blockchain. Cardano dApps cover a wide range of functionalities, including…
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Cryptocurrency Wallet (Cardano)
A cryptocurrency wallet in Cardano is a software application or hardware device that allows users to store, send, receive, and manage their ADA (Cardano’s native cryptocurrency) as well as other tokens and assets built on the Cardano blockchain. A wallet in Cardano doesn’t physically store ADA but instead interacts with the blockchain, helping users manage…
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Slot Leaders
In Cardano, slot leaders are a critical part of the blockchain’s consensus mechanism, specifically within its Proof-of-Stake (PoS) system and the Ouroboros protocol. Slot leaders are responsible for producing blocks during specific time slots. Here’s how it works: In summary, slot leaders are the designated participants responsible for creating blocks during specific slots in the…
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Validators
In the Cardano blockchain, validators refer to entities, people or mechanisms that verify and approve transactions and smart contracts to ensure their legitimacy and accuracy. Cardano uses a Proof-of-Stake (PoS) consensus algorithm called Ouroboros, where validators are commonly known as stake pool operators (SPOs). These SPOs are responsible for validating and creating new blocks on…
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Delegation
Delegation in Cardano is a process that allows ADA holders to participate in securing the network and earning rewards without running their own validator node. Instead, they can delegate their ADA to a stake pool that handles the technical work of validating transactions and creating new blocks. Delegation is key to Cardano’s Proof of Stake…
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Consensus Algorithm
In Cardano, the consensus algorithm is called Ouroboros, and it’s how the network agrees on which transactions to add to the blockchain and how new blocks are created. A consensus algorithm is important because it ensures that everyone in the network agrees on the state of the blockchain without needing a central authority, keeping the…
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Off-chain Processing
Off-chain processing on Cardano refers to processes or activities that happen outside the main Cardano blockchain but are still connected to it. These off-chain activities help improve the efficiency, scalability, and functionality of the network without putting too much load on the main blockchain. Here’s how off-chain works on Cardano: Key Concepts of Off-chain Processing…
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Sidechains
Sidechains on Cardano are separate, independent blockchains that are connected to the main Cardano blockchain (also known as the mainnet). These sidechains can operate independently but are designed to interact with the main Cardano blockchain, allowing assets and information to move between the two chains. The concept of sidechains is intended to enhance the scalability,…
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Smart Contracts
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These contracts automatically enforce and execute the terms when the specified conditions are met, without the need for intermediaries like lawyers or brokers. Smart contracts run on blockchain networks, where they inherit the blockchain’s properties of immutability, transparency, and security.…
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Cryptocurrency Staking
Cryptocurrency staking is a process where individuals participate in the operation of a blockchain network by locking up a certain amount of their cryptocurrency in a wallet to support various functions of the network, such as transaction validation, security, and consensus. In return for staking their cryptocurrency, participants, often referred to as “stakers” or “validators,”…
