Cardano News & Announcements
- Cardano Uses Significantly Less Energy, with the Same Level of Security, as Bitcoin
In Bitcoin’s and other proof of work protocols, 99% of the energy consumption is used to just select a block producer. Cardano uses a proof of stake protocol, much more energy efficient. In comparison, Cardano uses only six gigawatt-hours of energy annually compared to 115.85 terawatt-hours used by Bitcoin.
- Cardano: 6 gigawatts = ~2 average power plants
- Bitcoin: 115,850 gigawatts = Rank 31st in country’s energy consumption, surpassing the Netherlands.
Input | Output
- ERC20 Converter allows Ethereum tokens to run on the Cardano Blockchain
By enabling the migration of ERC20 tokens, Cardano focuses on delivering a value-proposition that leverages Cardano’s advantages over Ethereum. In particular, Cardano's higher capacity for transaction processing and lower fees when compared with Ethereum's high cost, and often highly congested traffic.
Read More: Bringing ERC20 to Cardano
- Blockchain Provides Solutions for the Oil & Gas Industries
In the oil and gas industries, blockchain-based solutions can be useful. As a capital-intensive industry, spare parts, leaks, repairs, and many other things have to be constantly tracked all around the world...international supply-chains become extensive and hard to follow...legal agreements have to be crafted and executed across many jurisdictions.
All of these areas can be improved by the application of blockchain to digitally automate these processes while securing, sharing, and updating at the same time through a tailored solution accessible by all stakeholders.