Cardano

Cardano is a decentralized blockchain platform that aims to provide a secure and scalable infrastructure for the development of decentralized applications and smart contracts. It was founded by Charles Hoskinson and launched in 2017 by IOHK (Input Output Hong Kong). Its native cryptocurrency is ADA.

Cardano uses Ouroboros, a proof-of-stake consensus protocol designed to be energy efficient and secure. Unlike proof-of-work blockchains, Ouroboros elects slot leaders to create new blocks based on stake ownership, with formal cryptographic proofs and peer-reviewed research guiding its design.

Cardano's architecture separates value transfer and computation into two layers: the Cardano Settlement Layer (CSL) for ADA transactions and the Cardano Computation Layer (CCL) for smart contracts and applications. It uses an extended UTXO model to support complex transactions and enables on-chain governance through a treasury system and voting.

Smart contracts are implemented with Plutus and Marlowe, with Plutus Core targeting general-purpose applications and Marlowe focusing on financial contracts. The platform is built in Haskell and emphasizes formal verification and high assurance code.

Development follows a staged roadmap defined as eras — Byron (bootstrap), Shelley (decentralization), Goguen (smart contracts), Basho (scaling), and Voltaire (governance and treasury). Ongoing research and partnerships aim to improve scalability (e.g., Hydra side-staking), interoperability, and sustainability.