Cardano

What Is Cardano ?

Cardano is a blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create possibility for the many, as well as the few, and bring about positive global change.

Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems,
and societies.

Cardano is considered the biggest proof of stake cryptocurrency in 2021.

It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada. It uses design principles intended to improve upon issues faced by other cryptocurrencies, such as scalability, interoperability, and regulatory compliance.

With a leading team of engineers, Cardano exists to redistribute power from unaccountable structures to the margins – to individuals – and be an enabling force for positive change and progress.

Benefits

Cardano uses a proof-of-stake protocol named Ouroborosin contrast to Bitcoin and Ethereum which use proof-of-work protocols. Proof-of-stake blockchains use significantly less energy than proof-of-work chains. Cardano restores trust to global systems – creating, through science, a more secure, transparent, and sustainable foundation for individuals to transact and exchange, systems to govern, and enterprises to grow. Cardano’s identity management application can be used to streamline and simplify processes that require the collection of data from multiple sources.

Cardano’s traceability application can be used to track and audit a product’s manufacturing processes from provenance to finished goods and, potentially, eliminate the market for counterfeit goods.

Cardano securely facilitates transactions using Ada – an internal cryptocurrency which allows any user, located anywhere in the world to use Ada as a secure exchange of value – without requiring a third party to mediate the exchange.

WHAT IS ADA?

Ada is a digital currency named after Ada Lovelace, a 19th-century mathematician who is recognized as the first computer programmer.

Ada allows any user, located anywhere in the world, to use it as a secure exchange of value – without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.

Every Ada holder also holds a stake in the Cardano network. Ada stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pool’s likelihood of receiving rewards. In time, Ada will also be usable for a variety of applications and services on the Cardano platform.

Every Ada holder also holds a stake in the Cardano network. Ada stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pool’s likelihood of receiving rewards. In time, Ada will also be usable for a variety of applications and services on the Cardano platform.