Cardano is in the news and got an invitation from Google to discuss the cryptocurrencies and advancement in the technology. Cardano is soon to reveal in detail about the meetings with Google as per Charles Hoskinson. This would be a great sign of a future Collab that might take place, and everyone is excited about it.
In the latter part of the meeting, Charles began to introduce about the company to Google and gave a rough idea with some basic knowledge about Cardano and IOHK. Then after discussing further, he talked about the algorithm of Cardano which is called Ouroboros. Ouroboros has new features like Proof of stake which means that an owner who has the coins can validate the transaction. It also means that the more bitcoin the more power of validation and mining. This feature attracts many users to join them and be a part of Ouroboros.
.@IOHK_Charles was invited to talk about Cardano and the future of cryptocurrencies at Google's London Headquarters last month. Read @InputOutputHK 's blog post on the visit here: https://t.co/BsouiOWGf5
— Cardano Community (@cardanocom) June 28, 2018
The meeting had a lot of discussions and IOHK talked about its achievements and developments that are planned for July and they are fully prepared for it. Firstly, they are focusing to launch a test network for experimenting and know all its flaws then only they will launch the live network for the public. A demo version will also likely to start for smart contracts on a virtual machine.
Summary of the basic concept to the IOHK's paper ‘A Treasury System for Cryptocurrencies’ is ready!
Come and learn more about Cardano's Treasury System here! https://t.co/z3zgg29AAM
— Cardano Community (@cardanocom) June 29, 2018
Virtual machines are the tools in which the smart contacts will run, it is like a platform providing them necessary requirements on which the code has been developed. It also acts as a verifier which helps to find the error in programming. This will help the team to figure out where they are lacking and to improve their functionality.
The major concern of the public during the meeting was focused on the developers as for how they help Cardano in what terms and there were many concerns about the crypto-security and what companies are doing to protect their privacy.
So, one of the attendees at the conference asked a question about the token allocation and will it be attracting more customers and their part as a strategy. The question was addressed by Charles who stated that there will be about 26 billion tokens that would be circulated. This model is very cost effective, and it will also be giving results that will be more accurate and validated. By this conference, it gave a clear picture to all the people that in future there will be a high chance of the collaboration of these two companies which will bring the new technology and invention that could possibly enhance the crypto world.