Tag: Cardano

Cardano (ADA) is a prominent public, decentralized blockchain platform launched in 2017, distinguishing itself with a unique “scientific philosophy” and a research-driven approach. Unlike earlier cryptocurrencies, Cardano was built from the ground up with peer-reviewed academic research underpinning its design, aiming to address scalability, interoperability, and sustainability issues faced by first and second-generation blockchains like Bitcoin and Ethereum.

Its native cryptocurrency, ADA, is named after Ada Lovelace, considered the world’s first computer programmer. ADA powers transactions on the network, enables users to participate in the platform’s Proof-of-Stake (PoS) consensus mechanism called Ouroboros (making it significantly more energy-efficient than Proof-of-Work systems), and grants holders governance rights to vote on protocol changes.

Cardano features a distinct two-layer architecture: the Cardano Settlement Layer (CSL) handles transaction validation, while the Cardano Computation Layer (CCL) is dedicated to smart contracts and decentralized applications (dApps). This layered approach enhances scalability and flexibility. With its focus on formal verification, community governance, and ambitious development phases, Cardano aims to provide a robust and secure platform for a wide range of use cases, from decentralized finance (DeFi) to digital identity, attracting a global community of developers and investors, including those from cities like Surat.