Cardano (ADA)

Cardano is a blockchain platform for creating decentralized apps and performing complex programmable value transfers. Cardano appeared in 2015, with Input Output Hong Kong (IOHK) as the developer. The cryptocurrency of the blockchain platform is called ADA.

Cardano is based on the Ouroboros Proof-of-Stake algorithm. It divides the process into time slots, epochs. Each epoch has a slot leader who first considers the block chains of the past leader and only then builds his or her own. This protects against protocol spoofing and rewards only deserving participants. Ouroboros allows Cardano to be a scalable system where it does not require a lot of energy to make transactions.

Cardano’s security is one of its fundamental features. The platform is written in the Haskell programming language, which helps build systems using clean functions. This allows components to be tested for threats individually and to use methods to check the code for correctness. Information from community cry​ptodefix. As of September 2021, the platform began supporting smart contracts within the network.

Specific features of Cardano

• Built on Proof-of-Stake and Ouroboros mechanism
• Scalability and stability of the blockchain
• High network security
• Holder remuneration
• Low fees