Cardano (ADA) is a third-generation, peer-reviewed blockchain platform founded by Ethereum co-founder Charles Hoskinson and launched in 2017. It is designed with a strong emphasis on academic research, formal verification, and scientific rigour — making it one of the most methodically developed blockchain projects in the industry. The platform’s development is managed by IOHK (Input Output Hong Kong), with the Cardano Foundation overseeing ecosystem growth.
Cardano uses a Proof-of-Stake consensus mechanism called Ouroboros, which is the first provably secure PoS protocol, making it highly energy-efficient compared to Proof-of-Work chains like Bitcoin. The network is divided into two layers: the Cardano Settlement Layer (CSL) for ADA transactions and the Cardano Computation Layer (CCL) for smart contracts and decentralised applications (dApps).
ADA is the native cryptocurrency used to pay transaction fees, participate in staking, and vote on governance proposals. Cardano’s development follows a five-phase roadmap: Byron, Shelley, Goguen, Basho, and Voltaire — each adding new capabilities including smart contracts, scalability, and full decentralised governance.
Example: A developer builds a decentralised lending application on Cardano, using Plutus smart contracts (written in Haskell). Users stake ADA as collateral and borrow stablecoins, paying fees in ADA.
Learn more: Cardano.org — Official Site
