Cardano (number three) (ADA)
Cardano is a “Ouroboros proof-of-stake” cryptocurrency developed by engineers, mathematicians, and cryptography experts using a research-based methodology. Charles Hoskinson, one of Ethereum’s five original founding members, was a co-founder of the project. After some disagreements with Ethereum’s course, he left and later assisted in the development of Cardano.
Cardano appears to stand out among its proof-of-stake peers and other prominent cryptocurrencies due to this rigorous method. Cardano has also been nicknamed the “Ethereum killer” because of its blockchain’s capabilities. Cardano, on the other hand, is still in its infancy. Although it has beaten Ethereum to the consensus paradigm of proof-of-stake, it still has a long way to go into decentralized financial applications.
Cardano aspires to be the world’s financial operating system by creating decentralized economic goods in the same way that Ethereum does and offering solutions for chain interoperability, voter fraud, and legal contract tracking other items. In January 2021, Cardano has a market cap of 9.8 billion dollars, and one ADA is worth $0.31.