⛓️Technology

DROPSPOT. has been developed with adopted Web3 practices with Cardano as the primary blockchain.

Cardano

"Cardano is a groundbreaking proof-of-stake blockchain network, being developed into a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts."

"Built with the rigor of high-assurance formal development methods, Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. Cardano is designed to be the platform of choice for the large-scale, mission-critical DApps that will underpin the economy of the future."

Cardano is a 3rd generation blockchain and has introduced the eUTXO model of accounting which means that NFT functionality is baked into the base-level blockchain rules, making Cardano a natural, more secure and dependable technology choice.

Native Blockchain Features

NFT's minted, and sold on our platform inherent the features and security of the base-level blockchain. This infuses our NFT's with the intrinsic benefits and features of Cardano.

Native Tokens

The issuance (minting) and transfer NFTs on Cardano occurs natively. As such the tokens exist directly within an owners wallet, and have no dependency upon 3rd party smart contracts to control behaviour. The tokens are treated no differently to Cardano’s native currency (ADA). Ultimately increases security, and removes dependency on centralised services.

Low & Predictable Fees

Rather than a fee market for priority, Cardano was the first of the top 10 to implement 100% Proof of Stake (Pos), for block validation and processing. The Oroborus protocol ensures low, predictable and consistent fees are charged for each transaction. This opens currently non-commercial use cases (think expansion into supply chain) and increases profitability.Ultimately this translates to a better creator, consumer user experience.

Decentralisation

Currently 70% of ADA ~30B of ADA is delegated amongst 3000 pools, making Cardano one of the most decentralised chains. Cardano has beaten ETH to this milestone.

We see the effects of centralised or poorly designed protocols in down time or coordinated restarts / forks / hack. ETH>ETH Classic. Solana 5-6. Outages. And now more recently with Metamask restricting wallet access.

Network Security

Network is based upon an extension of Bitcoin’s UTXO model - eUTXO as opposed to EVM’s account based model. SC’s are written as validators of transactions rather than computational logic on chain. So a very different approach which increases network security and reduction of attack vectors. This specific value will prove itself over time.

The network is also written in a code Haskel which falls under a ‘Functional’ vs ‘Imperative’ programming language. This basically translates to ‘provable’ and ‘deterministic’ verification and trust of operation.

With respect to NFT’s the blockchain not smart contracts are responsible for security.

Scale

The network blocks are current > 70% on average. Although there is a LOT of FUD around concurrency and scale.

It is however widely documented that one of the advantages of the UTXO based models is in fact ease of scale. Cardano has delivered the last 3 major milestones (PoS, Native Tokens, Smart Contracts), perfectly over the last 18 months, and this is can be seen clearly on the charts as well via price action. The next 12 months the Basho era of their roadmap will deliver the scale. If the roadmap is delivered on plan (and this is a likelihood based upon the recent ‘Hard Fork Combinator (HFC)’ events, we would hope to see adoption, market cap et al to at a minimum compete with Ethereum’s.

Cardano works by throttling or backloading transactions. Coupled with the deterministic nature of Cardano transactions, a transaction can be validated and confirmed as successful off-chain before the chain processes and propagates this. This improves user experience of web-apps.

Sustainability

Not only is PoS a much less energy intensive network (99%), many Stake Pool Operators are aligned directly to Charitable causes, and use this to incentivise wallet delegation. Consumers now demand this.

Community & Governance

One of the largest crypto communities. See wallet chart and growth. Fuelled by Catalyst which is one of the largest private development funds in the world. Each quarter the projects funded value is doubling (exponential). Fund 7, funded over $50m worth of projects.