According to a report published by the venture capital firm, Crypto Valley Venture Capital (CV VC), Cardano has been named as one of top global blockchain organizations under the Platforms & Protocols sector.
The “CV VC Global Report H1/2020” states that the blockchain platform Proof-in-Stake (PoS) protocol deftly avoids the energy consumption and centralization issues encountered by Proof-of-Work (PoW) blockchains such as Bitcoin.
Cardano Community Twitter post
The report was published in collaboration with the global professional services network, PwC and announced on the 14th September 2020 by the Twitter page post displayed in the picture below.
After Internet Online Hong Kong (IOHK) presented the world’s first PoS blockchain protocol back in September 2016, Cardano continues to improve upon decentralization with their own top global PoS blockchain protocol.
PoS protocol success
As the PoS protocol continues to portray success, CV VC evidenced the affluence of PoS by highlighting the mid-process wholesale migration of Ethereum – the home of 95% decentralized application builds – to the technology.