Cardano is a blockchain platform that aims to be a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts. Cardano is being built in five stages: foundation, decentralization, smart contracts, scaling and governance.
· Cardano runs on the proof-of-stake Ouroboros consensus protocol and developments are informed by scholarly academic research.
· The primary cryptocurrency of Cardano is called “ada.”
· Cardano oversight is decentralized and shared by The Cardano Foundation, IOHK, and EMURGO.
For example, it can be used to verify credentials to open a bank account or eligibility for government aid. The other two products are being used to trace a product’s journey through a supply chain.