Cardano

Cardano is a decentralized, open-source blockchain platform designed to facilitate smart contracts and decentralized applications (dApps). It uses a unique proof-of-stake (PoS) consensus mechanism called Ouroboros, which is designed to be more energy-efficient than proof-of-work (PoW) systems. The native cryptocurrency of the Cardano blockchain is ADA, which is used for transactions and staking on the network. Unlike Ethereum, which began with a more flexible and less structured approach, Cardano was developed with a research-driven design, emphasizing peer-reviewed academic work and formal methods for improving the protocol. The platform aims to provide a balanced and sustainable ecosystem by offering scalability, security, and interoperability. Examples of projects on Cardano include DeFi platforms, NFT marketplaces, and supply chain tracking applications.