Cardano is a decentralized public blockchain platform and is considered one of the third-generation cryptocurrencies. Its native currency, ADA, is used for transactions and paying network fees. Cardano operates on a proof-of-stake (PoS) mechanism that consumes less energy than proof-of-work (PoW) mechanisms like Bitcoin, making it more efficient and sustainable.
Key features of Cardano:
* Decentralization: Operates without a central authority.
* Security: Features a consensus mechanism called Ouroboros based on scientific research.
* Sustainability: Its design aims for continuous evolution through a governance and self-funding system.
* Smart contracts: Enables developers to create decentralized applications (dApps).
