What is Cardano (ADA) ?
Cardano is an open source and decentralized, Proof of Stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. Cardano does not have a white paper. Instead it uses design principles intended to improve upon issues faced by other cryptocurrencies such as scalability, interoperability, and regulatory compliance. Within the Cardano platform, $ADA exists on the settlement layer. This layer is similar to Bitcoin and keeps track of transactions. The second layer is the computation layer. This layer is similar to Ethereum, enabling smart contracts and applications to run on the platform. The total supply of $ADA will be capped at 45 Billion.
Real World Example
Smart contracts on Cardano will allow users to make transactions based on certain pre-coded conditions e.g. a contract could be programmed to release funds on a person's birthday each year. Cardano's token $ADA can also be staked to earn rewards and secure the Cardano network.
Fun Fact
According to the founders the Cardano network will be quantum computer resistant, so future quantum computers will not be able to break user's private keys.
Cardano Links
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