New to Cardano?

In the following pages we have for ease for reference, set out some important information related to Cardano blockchain, ADA and crypto wallets.

Introduction

Cardano is a decentralised public blockchain and cryptocurrency project that is focused on providing a secure and scalable platform for the development and execution of smart contracts and decentralised applications (DApps). It was created by blockchain development firm Input Output Hong Kong (IOHK) and is led by Charles Hoskinson, co-founder of Ethereum.

Proof-of-stake

Cardano uses a proof-of-stake consensus algorithm called Ouroboros, which is designed to be more secure and energy efficient than proof-of-work algorithms used by other blockchain platforms. It also uses a unique multi-layer architecture that separates the settlement layer, where transactions are recorded, from the computation layer, where smart contracts are executed. This allows Cardano to be more flexible and scalable than other blockchain platforms.

Scientific and academic foundations

The Cardano platform is built on strong scientific and academic foundations, and the development team is focused on building a platform that is easy to use and understand. The project is also committed to sustainability and has a robust governance model that is designed to be adaptive and evolve over time.

ADA

The native cryptocurrency of the Cardano platform is called ADA, which can be used to send and receive value, as well as to participate in the proof-of-stake consensus process.