Cardano

Cardano is a public, decentralized blockchain platform that launched its mainnet on September 27, 2017. It operates using the Ouroboros proof-of-stake consensus mechanism, developed through peer-reviewed academic research and implemented in the Haskell programming language. The platform is designed with a two-layer architecture: one layer handles basic payment transactions using the extended UTXO ledger model, while the other layer manages smart contract execution, allowing each function to be optimized independently. This separation is intended to enhance security and flexibility, particularly for large-scale, mission-critical decentralized applications in finance and enterprise contexts.

The development of Cardano is overseen by three independent entities: IOHK (Input Output Hong Kong), which develops the core technology; the Cardano Foundation, a Swiss-based organization that supervises development and promotes the platform; and EMURGO, which drives commercial adoption. The project was originally conceived in 2015 by Charles Hoskinson, a co-founder of Ethereum, and Jeremy Wood. The codebase is free and open-source under the Apache license, and every major protocol update undergoes peer review by academic institutions, a process that has set a new standard for blockchain development methodology.

Cardano's development follows five named eras: Byron (foundation), Shelley (decentralization), Goguen (smart contracts), Basho (scaling), and Voltaire (governance). Voltaire, the final era, was completed in January 2025, transitioning the network to a self-sustaining model with on-chain voting and treasury management. The platform supports smart contracts through Plutus and Marlowe, enables the creation of native custom tokens, and offers staking where ADA holders can lock their tokens to help verify transactions and earn rewards. The network has a block time of 20 seconds and a maximum supply of 45 billion ADA, with the smallest unit being the Lovelace (1 ADA = 1,000,000 Lovelace). [edit]