Ethereum

Cardano

Future

Ouroboros

Cardano (ADA) is a decentralised proof-of-stake (PoS) blockchain that was designed to be a more efficient alternative to proof-of-work (PoW) networks like Bitcoin. The native crypto token of Cardano is called ADA. This name was chosen due to Augusta Ada King, Countess of Lovelace. She is regarded as the first computer programmer in the history of humanity.
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This article explores Cardano and delves into its origins, tasks and goals. In a world full of different cryptocurrencies, it is important to know how to navigate the industry, and to do so; you have to at least have some ground knowledge on the most popular types of cryptos.
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After all, while the current <a href="https://www.kraken.com/prices/cardano" rel="noopener noreferrer nofollow">Cardano price</a> can illuminate sentiment of the coin and the overall crypto market, understanding the revolutionary implications of the digital asset and others like it, goes far beyond the contemporary price.
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<h2 style="text-align: center;" id="b-the-origins-of-cardano-b">The Origins of Cardano</h2>
One of the co-founders of Ethereum, Charles Hoskinson, is also the creator of Cardano. Development of Cardano began in 2015, with the network launching in 2017. Because of its tight link to Ethereum, it is often considered as an alternative for it. Besides, they both focus on the matter of smart contracts, which aim to revolutionise the contract system. Their goal is also the same: to build and establish a decentralised system.
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Cardano is often considered an updated version of Ethereum and a third-generation platform, whereas Ethereum is often considered “second-generation.” But what is it that Cardano actually does? Let’s dive into it in the next section.
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<h2 style="text-align: center;" id="b-how-does-cardano-work-b">How Does Cardano Work?</h2>
The Cardano platform runs on the Ouroboros consensus platform. This platform, created by Cardano itself during its foundation phase, is the first proof-of-stake protocol designed to reduce energy consumption. There is a level of energy expenditure required by proof of work mining. Ouroboros aims to eliminate the massive computing resources that the PoW networks use.
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The price of Cardano can be quite volatile at times, but this is not unique to this specific cryptocurrency. Crypto traders and enthusiasts know that the market can be subjected to major fluctuations, which are practically impossible to predict. At the same time, Cardano and other cryptocurrencies with higher market caps, are more stable than less popular ones.
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<h2 style="text-align: center;" id="b-what-are-cardano-s-future-goals-b">What Are Cardano’s Future Goals?</h2>
Cardano is designed to be developed in distinct eras, named after notable figures in poetry and computer science history, such as Byron, Shelley, Goguen, Basho and Voltaire. Every era has distinct goals; for example, Basho is the era of scaling and optimisation, which is intended to bring more capabilities to Cardano.
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It looks like the next transition will be from Basho to Voltaire, the finer era for Cardano development. It will bring voting and treasury management to the blockchain and network through previously introduced smart contract functionality, as well as system improvements.

What Is Cardano and How Does It Work?

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