Cardano-(ADA)

Cardano (ADA) is a third-generation blockchain platform designed to address issues such as scalability, security, and sustainability. Launched in 2017 by Charles Hoskinson, one of Ethereum’s co-founders, Cardano utilizes a unique Proof-of-Stake (PoS) consensus algorithm called Ouroboros. This enables Cardano to be more energy-efficient compared to Proof-of-Work blockchains. The Cardano platform supports smart contracts, decentralized applications (dApps), and aims to foster interoperability between different blockchain networks. ADA, the native cryptocurrency of the Cardano network, is used for staking, transaction fees, and governance, allowing users to participate in protocol upgrades and decision-making. With its research-driven development and focus on formal methods, Cardano seeks to establish a robust and secure blockchain ecosystem for the future of decentralized finance (DeFi), identity solutions, and more.