cardano foundation

Cardano Foundation is a Blockchain Network that is used to build smart contracts and develop decentralized applications, Cardano is one of the biggest cryptocurrencies that is a flexible and adaptable blockchain platform. 

• Founders: Charles Hoskinson, Jeremy Wood
• Founded: 2015
• Headquarters: Zug, Switzerland

Key Features:

• Its growing ecosystem of DeFi applications provides services like lending, borrowing, and trading. 
• Tracks products through their life cycle to ensure transparency.
• Its native token is ADA which can be used to make transactions.
• Its unique PoS mechanism called Ouroboros is designed to be more energy efficient than traditional Proof of Work systems. 

Bitcoin and Ethereum are said to be the first and second-generation blockchains, and Cardanao is said as the third-generation blockchain. Cardano's main aim is to provide the audience with a sustainable blockchain platform. It is controlled by three organizations Cardano Foundation, IOHK, and Emurgo.  

FAQs

1. What wallets can be used for ADA?

Daedalus and Yoroi are the two main wallets widely used by ADA.

2. Is Cardano a private blockchain?

It is an open-source and decentralized public blockchain which is one of the biggest cryptocurrencies by market cap.