Cardano (ADA) is a decentralized platform and cryptocurrency that is built on a proof-of-stake consensus algorithm. It was created by IOHK (Input Output Hong Kong), a blockchain research and development company, in 2015. Cardano aims to provide a more secure and sustainable platform for the development and execution of smart contracts and decentralized applications (dapps) compared to other cryptocurrencies like Ethereum.
ADA is the native cryptocurrency of the Cardano network and is used for transactions, as well as for staking, which is the process of participating in the consensus mechanism of the network to validate transactions and create new blocks.
Cardano has a strong focus on scientific philosophy and research and aims to create a platform that is secure, scalable, and interoperable. The development of the Cardano network is guided by a multi-layer governance model that involves the Cardano community, IOHK, and other stakeholders.
- The launch of the Cardano Alonzo upgrade, which introduces full-fledged smart contract capabilities to the Cardano network and opens up new possibilities for decentralized applications.
- Expansion of the Cardano ecosystem, with the launch of new products and services for users and developers, such as the Cardano Voyager wallet and the Cardano Rust project.
- Growing interest from institutional investors, with major companies and investment firms announcing investments in Cardano or exploring the use of its blockchain technology for various purposes.