Cardano (ADA) is a cryptocurrency built on blockchain technology. It was developed in 2017 by Charles Hoskinson and IOHK (Input Output Hong Kong). Cardano's goal is to create a more scalable, secure, and sustainable blockchain platform.
Cardano Features: Proof of Stake (PoS) Consensus Mechanism: Cardano uses Ouroboros, a PoS algorithm, to reduce energy consumption. This system allows participants to earn rewards by staking their ADA as an alternative to mining.
Layered Architecture: Cardano consists of two main layers: Cardano Settlement Layer (CSL): This layer deals with the transfer and calculations of ADA. Cardano Computation Layer (CCL): This is the layer where smart contracts are executed. This makes Cardano flexible and extensible. Smart Contracts and DApps: Cardano supports smart contracts and decentralized applications (DApps), like platforms like Ethereum. The Alonzo update, which took place in 2021, brought these capabilities to Cardano. Academic Approach and Research: Cardano is the first blockchain developed with a scientific approach. It has a peer-reviewed structure based on academic research. This ensures that the platform is strong in terms of security and sustainability. Cardano’s Native Cryptocurrency ADA: ADA is the native cryptocurrency used on the Cardano network. It is staked to ensure the security of the network and is used for transactions.
Cardano's Advantages: Lower energy consumption: Thanks to the Proof of Stake mechanism, it consumes much less energy than blockchains that use Proof of Work, such as Bitcoin and Ethereum. High scalability: Cardano's layered architecture provides flexibility to increase the number and speed of transactions. Academic support: The fact that blockchain technology is developed through academic research is an important advantage in terms of reliability and innovation. Cardano is seen as a project with great potential in the long term in the cryptocurrency world and can be an ideal option especially for projects looking for a sustainable, secure blockchain infrastructure.
Do your own research before investing! This is not investment advice!
