#CardanoDebate Cardano is a decentralized, open-source blockchain platform known for its strong emphasis on scientific research, formal methods, and peer-reviewed development. It was created by Charles Hoskinson, one of the co-founders of Ethereum, and is developed primarily by IOHK (Input Output Hong Kong), with governance from the Cardano Foundation and commercial adoption supported by EMURGO.

Here’s a quick breakdown of the key aspects of Cardano:

🔧 Key Features

Proof-of-Stake (PoS): Cardano uses a unique PoS consensus algorithm called Ouroboros, which is energy-efficient and mathematically proven to be secure.

Layered Architecture:

Settlement Layer: Handles ADA transactions (Cardano’s native currency).

Computation Layer: Enables smart contracts and decentralized applications (DApps).

Formal Verification: Uses formal methods to prove code correctness, especially for smart contracts.

Native Tokens: Allows users to create and manage their own tokens without needing smart contracts.

EUTXO Model: An extended version of Bitcoin’s UTXO model, optimized for scalability and parallelism in smart contracts.

🧪 Development Phases ("Eras")

Cardano development is structured in five named eras:

Byron – Foundation and ADA launch.

Shelley – Decentralization (staking and PoS).

Goguen – Smart contracts and DApp capability.

Basho – Scaling and optimization.

Voltaire – Governance and treasury system.