Why do we need transaction fees?

There are two main reasons why transaction fees are needed for a cryptocurrency like Cardano:

People who run full Cardano nodes spend time, money and effort to run the protocol, for which they should be compensated and rewarded. In contrast to Bitcoin, where new currency is created with each mined block, in Cardano, transaction fees are the only…

IOHK received both Bitcoin and Ada for its contract to work on the Cardano project. IOHK converted most of its Bitcoin at the time of receiving it to fiat in order to ensure project stability. With respect to IOHK's holdings of Ada, IOHK does not expect a need to liquidate any of its Ada to cover immediate costs related to the Cardano project until 2019. However, like most…

The technology was conceived in an Osaka restaurant more than two years ago and from that small beginning Cardano has been built into a leading cryptocurrency. The project has amassed a team of experts in countries around the world, has generated more than 67,000 lines of code, and has a strong and growing community in countries across Asia and beyond. Along the way, Cardano…

The launch of Cardano brings to an end an exciting first phase of development for us at IOHK, after more than a year spent planning and developing the technology. Now we’ve handed the product over to users and they are getting to know how it works. Using new software can be tricky – some people won’t need any help, but there will be those who need a little assistance. To make…

Over two years ago IOHK joined a movement to build a truly unique collection of technology that married the best engineering principles with the dreams of scientists in far removed universities. It was a tremendously ambitious and complex project to grasp. Tens of millions of dollars would need to be gathered, long term roadmaps developed, research institutions established and…