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Rhizomebook has made a long term investment in Cardano ADA tokens and included them in a project called Book XLIV. Cardano is a type of cryptocurrency developed specifically for use on the Cardano blockchain platform. This platform is designed to provide a secure, scalable, and sustainable foundation for the development and execution of decentralized applications and smart contracts. The platform was created by IOHK, a company that specializes in research and development of blockchain technologies and collaborates with academic institutions and experts worldwide.
One of the key objectives of the Cardano project is to create a more decentralized and equitable system. This is achieved through the use of a proof-of-stake consensus protocol, whereby users stake their own ADA as collateral to secure the network. By doing so, rewards can be distributed more fairly among participants, and power is not concentrated among a small group of miners, as is the case with proof-of-work blockchains.
Cardano is designed to function as a digital payment method and a means of storing and transferring value without intermediaries such as banks. The platform uses a proof-of-stake consensus protocol called Ouroboros, making it more energy-efficient and environmentally friendly than traditional blockchain networks like Bitcoin.
Rhizomebook plans to finance its projects using the proceeds from the Cardano system, including staking and investment funding, as well as transactions made through the platform. This includes payments for digital works, NFTs, or print-on-demand books related to them.