Cardano - Page 17

Cardano is a blockchain platform designed for the development and execution of smart contracts and decentralized applications (dApps). It aims to provide a more secure and scalable infrastructure for the digital economy, utilizing a research-driven approach and peer-reviewed academic research in its development. Cardano operates on a proof-of-stake consensus mechanism known as Ouroboros, which enables participants to validate transactions and create new blocks in a more energy-efficient manner compared to traditional proof-of-work systems. The platform also features its own cryptocurrency, Ada, named after Ada Lovelace, a 19th-century mathematician. Cardano emphasizes interoperability with other blockchains, sustainability, and governance through a treasury system that allows stakeholders to vote on development proposals.