Cardano (ADA) is an open-source blockchain platform designed for the development of smart contracts and decentralized applications (DApps). Launched in 2017 with the involvement of Ethereum co-founder Charles Hoskinson, Cardano is managed by IOHK. Cardano is based on a scientific approach and academic research, making it one of the most researched and evaluated blockchain projects. Cardano uses a Proof of Stake (PoS) consensus algorithm called Ouroboros, which is considerably more energy-efficient than the Proof of Work (PoW) algorithm employed by Bitcoin. The main goal of Cardano is to build a sustainable and scalable blockchain platform capable of supporting complex financial applications and governance systems.
