Cardano is a decentralized blockchain network, which uses the Proof-of-Stake model. The roles and responsibilities are equally shared by the Cardano partners, ‘The Cardano Foundation, IOHK, and EMURGO. The network is the first blockchain to implement Ouroboros, which is a decentralized, PoS algorithm.
It is built around peer-reviewed papers, instead of writing a white paper and implementing it in the codes. The team ensures that experts from across the globe read their papers, improvise them, and agree with the output.
Cardano is being developed using the “Haskell” programming language that enables the ecosystem to pursue evidence-based development. Which helps the project retain adaptability, and responsiveness to newer requirements, and offer unparalleled security and stability.
The platform aims to achieve scalability, interoperability, and sustainability needed for real-world applications. The network is being developed into a development platform for decentralized applications with multi-asset ledger and verifiable smart contracts.