Cardano (ADA) is a cryptocurrency that was launched in 2017, and it is considered one of the leading digital currencies in the world. Cardano was founded by IOHK, a company founded by Charles Hoskinson, the former co-founder of Ethereum. Cardano aims to provide a platform for smart contracts and decentralized applications, with a focus on security and regulatory compliance.
Cardano uses a Proof of Stake (PoS) consensus mechanism instead of Proof of Work (PoW) used by Bitcoin, meaning that the network's verification and security depend on the coins held rather than on powerful computers. This reduces energy consumption and makes the network more environmentally friendly.
It is worth noting that Cardano employs a development approach called Peer-Reviewed Research, where its designs and technologies are reviewed by independent experts before being implemented on the network. This is aimed at increasing the protocol's reliability and security.
Furthermore, Cardano's direction towards achieving fair distribution of digital currency and promoting financial inclusion for individuals worldwide is noteworthy. Cardano also aims to strike a balance between technology and scientific updates, which helps build user trust and wide-scale adoption of decentralized applications.
It is also important to mention that Cardano is working on developing an advanced layer called "Plutus" to enable the creation of smart contracts on its network. Cardano also aims to develop a protocol known as "Ouroboros," a distributed protocol to maintain network security and execute transactions efficiently.
In summary, Cardano seeks to achieve a balance between technology, sustainability, and security, making it one of the promising projects in the world of digital currencies.