What is Cardano

Cardano is a blockchain platform that is open source and uses the Proof of Work consensus process. ADA is its native cryptocurrency. Cardano was founded in 2017 by Ethereum co-founder Charles Hoskinson. Cardano is developed in Haskell, a programming language that uses pure functions. Cardano is a third-generation platform that was created with an evidence-based approach. The Cardano blockchain is composed of two layers: the Cardano settlement layer, which monitors balances and transactions, and the Cardano computational layer, which is used for smart contracts and applications. Furthermore, a key component of Cardano's protocol is its Proof of Stake consensus mechanism, Ouroboros, which is built for long-term sustainability and scalability. Cardano is expected to deploy other updates, such as the layer-2 solution Hydra, in the near future at the time of writing.

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