Cardano (ADA) is a decentralized, open-source blockchain platform that aims to provide a secure and sustainable environment for the development and execution of smart contracts and decentralized applications (dApps). It was created by IOHK (Input Output Hong Kong) and launched in 2017. Cardano is built on a unique blockchain architecture called Ouroboros, which is the first proof-of-stake (PoS) algorithm to be based on a formal proof of security. This allows for more energy-efficient and scalable transactions compared to traditional proof-of-work (PoW) algorithms.
Additionally, Cardano is governed by a community-driven treasury system, which allows for the decentralized allocation of funds for development and community initiatives. With a focus on security, scalability, and sustainability, Cardano is positioning itself as a next-generation blockchain platform for the development of dApps and smart contracts.
