Why We Are Building On Cardano

Hello Guys!

Welcome to the second edition on the Bashoswap medium blog. It’s been an exciting week for Bashoswap!

We were able to put together a team of Front-End, Backend and Smart contract consultants who have started building out the Bashoswap protocol specifications.

We also publicly announced our project Bashoswap, a Multi Protocol DeFi platform being built on Cardano to the entire crypto community.

Part of what makes our project interesting is that it is being built on Cardano.

Bashoswap is one of the first Full Defi Ecosystem utilizing the Cardano Blockchain.

We are proud to be the standard-bearers for all that come after us, as well as help other promising projects take advantage of all that Cardano offers.

We will be getting a bit into the technical details from here going forward, so hang tight!

What is Cardano?

According to the information on Cardano’s websiteCardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods”

Well that doesn’t sound a bit too techy, right?

The pertinent question is what makes Cardano Better Than Bitcoin & Ethereum?

Another quick search on google will tell us that “Cardano’s PoS system is more scalable and energy-efficient than Bitcoin’s proof-of-work (PoW) and claims to be the first provably secure system of its kind. In PoS networks, users don’t have to mine tokens; instead, they participate in the block-validation process by staking the native token.”

This means that you don’t need heavy and other energy intensive equipments to be part of the Cardano network unlike bitcoin.

What makes Cardano better?

High Performance

Cardano is better decentralized and more scalable that the top blockchains existing today.

Cheap Transaction/Gas Fees

High transaction fees have been a major obstacle to the increasing adoption of DeFi on the other blockchains. At some point, a transaction fee on the Ethereum blockchain rose up to 50 dollars, which has pushed different projects to explore layer 2 solutions to help reduce this problem.

With the alonzo hard fork which saw smart contracts and decentralized app development tools being developed on the Cardano Ecosystem, you can interact with the Cardano ecosystem, deploy your Dapps and pay a fraction of a dollar as gas fee.

We do hope that this short article will guide promising projects that are looking to join the Cardano ecosystem.

As one of the earliest adopters of this 3rd generation Blockchain, we are proud to be brand ambassadors of the network and welcome all others who join.

Feel free to follow our Telegram Group or Twitter and drop us a line — or get updates on how Bashoswap is developing Defi tools and dapps tailored for the Cardano ecosystem.

Sincerely

Salman Rakhange

Bashoswap Project Manager.

Keep Up With Bashoswap

Website: https://bashoswap.finance

Follow Us On Twitter: https://twitter.com/basho_swap

Medium Blog: https://bashoswap.medium.com/

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