Cardano is an open-source blockchain project developed to power financial applications used by companies, consumers, and governments worldwide. It can be used to send and receive digital money, ensuring fast and direct transfer operations secured through encryption. The project features a multi-layer development that allows a specialized team of programmers and engineers to easily maintain and upgrade the blockchain using soft forks. The digital currency ADA is the native currency of the Cardano project.
Cardano and its digital currency ADA
The digital currency ADA is the native currency of the Cardano project. Like Ethereum ETH, Cardano aims to gain the ability to run decentralized applications dApps in the future. Once the work on the ADA settlement layer is completed, the team will build a processing layer for smart contracts related to financial regulations and legal agreements. Unlike other blockchain projects, Cardano has adopted a research-driven approach to solve the significant problems users face today.