Cardano

Cardano is a blockchain platform that aims to address the scalability, interoperability, and sustainability challenges faced by earlier blockchain networks. Launched in 2017 by Charles Hoskinson, one of Ethereum's co-founders, Cardano is built on a proof-of-stake (PoS) consensus mechanism called Ouroboros. This PoS system is designed to be more energy-efficient than traditional proof-of-work (PoW) systems, making Cardano a more sustainable option for developers and users. The platform is structured with a layered architecture, separating the settlement layer, which handles transactions, from the computation layer, which supports smart contracts and decentralized applications (dApps).

One of Cardano's unique features is its focus on academic research and peer-reviewed development. The project is guided by a rigorous scientific approach, with its protocols and upgrades undergoing extensive testing and validation by researchers and engineers before being implemented. This emphasis on evidence-based development ensures that Cardano's technology is both secure and scalable, capable of supporting a wide range of applications and use cases. Cardano's native cryptocurrency, ADA, is used for staking, governance, and transactions within the network, providing utility and incentives for network participants.