What is Cardano and How Does It Work?

[Poole]

I’ve been exploring various cryptocurrencies and stumbled upon Cardano. Can someone explain what Cardano is and what sets it apart from other cryptocurrencies?

[Josh_]

Cardano is a blockchain platform that is designed to be a more secure and scalable infrastructure for developing and executing smart contracts and decentralized applications (dApps). It differentiates itself by being one of the first blockchains to be built on peer-reviewed research and developed through evidence-based methods. The platform uses a unique proof-of-stake algorithm called Ouroboros, which is less energy-intensive compared to the proof-of-work system used by Bitcoin. Cardano aims to provide a more balanced and sustainable ecosystem that addresses the needs of its users as well as regulatory requirements. For a more comprehensive look at Cardano, its features, and its potential impact on the future of finance, this article provides detailed insights: https://paybis.com/blog/glossary/what-is-cardano/ It explores the technical foundations of Cardano and its approach to creating a more robust and user-friendly blockchain.