Cardano first acknowledges there are many existing software and protocols that can be mimicked to ensure security in cryptocurrency. 

Solutions

There are two different philosophies at play. One with greedy speed and the other being a slow and methodical process. This results in either cryptocurrencies explained either in detail on white paper or simply by hastily written code. Within the top 10 cryptocurrencies, none were implemented from a formal specification

Different philosophies in cryptocurrency implementation

Software needs accountability and repeatable process by using thorough testing and continuous iteration. However, many cryptocurrency protocols start in academic circles with peer review and debates, without proper iteration and experience through real life use. 

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- The Art of Iteration
- Facts and Opinions
- Functional Sins
- Why Haskell?
- Formal Specification and Verification
- Transparency

Cardano - Science and Technology

Hoskinson, Charles. (2017). Why Cardano. https://why.cardano.org/

Why Cardano

The Art of Iteration

There are many different programming languages, development paradigms, and philosophies on product management. Cardano begins with recognizing that naïve hands can make horrific mistakes, and any protocols designed should be done so by an expert and further reviewed by other experts. This is fact, not opinion. 

Facts and Opinions

After the fact that protocols need to be implemented and tested thoroughly, opinions differ in the best tools and languages used for software development. The sin is in choosing a tool or language while knowing someone will always think it as wrong. 

Functional Sins

Cardano has processes and protocols that are distributed, bundled with cryptography, and require a high degree of fault tolerance due to Byzantine actors, which are malformed messages and faulty clients causing havoc on the network unintentionally. 

Why Haskell?

Using a provably correct security model is beneficial as it limits adversarial power. As long as the protocol is followed and the proofs are correct, the adversary cannot violate the security properties claimed. However, there are still factors stopping pure security from existing. For example, implementations can be wrong, or hardware can introduce attacks not previously considered.

Formal Specification and Verification

The transparency of cryptocurrency is a hotly debated topic, as developers go through long processes to get to their final products. Additionally, transparency could cause the discussion to become more counterproductive as egos take over instead of knowledge. Cardano uses a standards driven process with directed oversight. This means the work is peer reviewed, which allows the community to know the science and code are well though out. Additionally, all code is entrusted to the Cardano Foundation, which review and verify all the code and protocols given to them and submit timely development oversight reports to the Cardano community. 

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