Cardano is a brand of ADA Crypto Currency was founded by Charles Hoskinson in 2015 to “provide a more balanced and sustainable ecosystem”.
Cardano ADA CryptoCurrency is a blockchain project that can process more transactions, cheaper transactions, and faster transactions.
Cardano coin blockchain also allows people to create their smart contracts between two or more people to enter into an agreement without needing a third party.
Method of functioning
Cardano blockchain functions in following two different layers.
• Settlement Layer allows users to send and receive ADA coins, wallet to wallet.
• Computation Layer is in the process to develop to facilitate users to create and enter into smart contracts.
Verification of Transaction:
Cardano uses a different model, which it calls “Ouroboros” is a new proof of stake that which determines how individual nodes reach consensus about the network.