Why 360event DAO Is Building on Cardano?
Despite the lingering bear market we will continue to update you as we build. It’s been an exciting week for us at 360event DAO as we are closer to completing our website building!
We were able to put together the UI/UX of our website that will give our users a wonderful experience.
We also have publicly announced our project “360event DAO”, a decentralized autonomous organization protocol being built on Cardano to the entire crypto community.
We are also proud to announce that we are building on the Cardano Blockchain.
We feel accomplished to be one of the first DAOs building and utilizing the wonderful tech that the Cardano Blockchain offers.
What is Cardano?
Cardano is a proof-of-stake 3rd generation blockchain platform, the first to be founded on peer-reviewed research and developed through evidence-based methods.
A google search about cardano’s uniqueness will reveal to 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 equipment to be part of the Cardano network unlike bitcoin.
What differentiates Cardano from the rest?
Cardano is more decentralized and more scalable than the top blockchains existing today.
Low Gas Fees
High transaction fees have been a major problem to other blockchains with Ethereum gas fess really on the high side. At some point, a transaction fee on the Ethereum blockchain went above 45 dollars, which has pushed different projects to explore layer 2 solutions to help manage this persistent gas problem.
With the alonzo hard fork which saw smart contracts and decentralized Application 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 also with the upcoming Vasil hardfork which will see the growth of the Cardano protocol and significantly increasing its transaction throughput and, with it, volume and liquidity.
The solution to this issue is called “diffusion pipelining,” and it involves boosting the budget and enhancing the consensus layer in order to permit quicker block propagation and validation times. While the consensus rules remain the same, this implementation enables the use of bigger blocks, resulting in greater transaction throughput.
We believe with the above article Cardano blockchain is actually the best place to build our DAO hence “Cardano is our home”.
Stake your $EVENT tokens to earn profit after each event has been executed and concluded