What is Cardano? | Quick Read

Cardano is a decentralized public blockchain and cryptocurrency project that is fully open source. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.

Cardano is a third-generation blockchain platform that provides a secure, scalable, and sustainable environment for smart contracts and decentralized applications (dApps). It is designed to be an enterprise-ready blockchain platform that is able to handle the needs of large-scale commercial applications.

The Cardano platform is powered by its native cryptocurrency, ADA. ADA is used to pay for transaction fees and reward those who contribute to the network. ADA is also used as a form of payment for goods and services on the Cardano platform.

Cardano is built on a proof-of-stake (PoS) consensus protocol, which is a more energy-efficient and secure alternative to the traditional proof-of-work (PoW) protocol. The PoS protocol also allows for faster transaction speeds and lower transaction fees. What separates cardano from other proof of stake protocols is it's ability to liquid stake your ADA.

Cardano also has a unique governance system that allows for the network to be maintained and improved over time. The system is based on a voting system and allows users to vote on the changes they want to see in the network.

Cardano is an innovative blockchain platform that is designed to provide a secure and sustainable environment for the development of dApps and smart contracts. It is a great platform for enterprises and developers looking to take advantage of blockchain technology.


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