Cardano is a blockchain platform that was founded by Charles Hoskinson, one of the co-founders of Ethereum. Launched in 2015, Cardano aims to provide a more secure and sustainable blockchain ecosystem. The platform is named after Gerolamo Cardano, an Italian polymath from the Renaissance era.
One of Cardano's distinguishing features is its commitment to academic research and a scientific approach to development. The platform is built on a layered architecture, separating the settlement layer that handles transactions from the computation layer that manages smart contracts. This design allows for greater flexibility and scalability.
Cardano uses a proof-of-stake consensus algorithm called Ouroboros, which aims to be energy-efficient and environmentally friendly compared to traditional proof-of-work systems. This consensus mechanism involves a randomly selected group of validators who are responsible for creating new blocks and confirming transactions.
The ADA cryptocurrency is native to the Cardano platform and serves as both a medium of exchange and a store of value. ADA can be staked in the network to earn rewards, fostering a more participatory ecosystem.
The development of Cardano is guided by the Cardano Foundation, Input Output Hong Kong (IOHK), and Emurgo, each playing a role in promoting and advancing the platform. The team emphasizes a peer-reviewed development process, seeking input from academic experts to ensure the security and reliability of the platform.
Cardano has also initiated various partnerships and collaborations, including efforts to bring blockchain technology to developing countries for financial inclusion. The platform's long-term vision includes incorporating on-chain governance to allow ADA holders to influence the platform's future development.
