What Is Cardstack (CARD)?
Trading under the name CARD, Cardstack is a layer of a decentralized internet. According to the website, Cardstack opens the doors to the next generation of the web for every person. The platform aims to simplify the development or building of software for every other user. This means that a user need not be tech savvy or have experience in developing software. Via the platform, making of non-fungible tokens (NFTs), decentralized finance (DeFi), and blockchain does not intend to be reserved for only people who have experience in working on the blockchain.
The platform aims to give users the independence to build decentralized applications (DApps), create different content, and get paid. Cardstack seeks to provide freedom to every other user to create content without having experience in coding or cryptocurrency.
Moreover, according to the whitepaper, the current centralized platform has many drawbacks, such as various native apps cannot communicate with each other. Another problem is that users need to manage multiple cloud-based services rather than one, incurring costs. Another problem users face is collecting different utility tokens for other apps on the blockchain. To curb this mess, Cardstack came into the picture.
The website claims that anyone can join the platform and start making their workspace. There is no need to have specific coding or blockchain knowledge. The developers on the platform then help a user to extend the idea of the app by working further on it. Also, users can invite other people on the platform to work together or to ask for help or feedback on the work.
The native token of the Cardstack protocol is Cardstack Token. The ticker name is denoted by CARD. It is a tradable and a utility token based on the ERC20 token standard. With CARD tokens, the users purchase credit. The users further use these credits for various software on the Cardstack ecosystem. Also, miners and developers get rewarded with CARD tokens.
History of Cardstack (CARD)
The project came into the picture in 2014. Chris Tse is the founder of the platform. Other than him, the team includes Ed Faulkner as lead developer and Hassan Abdel-Rahman as senior blockchain developer.
