Bitcoin is the first generation blockchain and Ethereum is considered as the second. Now, we are entering a so-called “3.0 phase”. This is a term coined in the industry to label a number of related ideas and technologies. For Cardano, it is involves doing things properly.
The Cardano project looks to use the best available research (or conducting original research where necessary) in each aspect of the system and in features that are to be implemented into the protocol. It involves a robust procedure in the development process.
- cryptography research on how to do Proof-of-Stake correctly;
- game theory research for the incentive mechanisms;
- research on governance to ensure the system can evolve;
- programming language design in the smart contract languages and execution platforms;
- higher assurance development techniques to implement the ideas correctly
- better architecture such as using sidechains to compartmentalize parts of the system from each other
Such research will be implemented to address problems observed in existing blockchains such as scalability, interoperability, and sustainability.