Cardano (ADA) is a halal token and it is a proof-of-stake (PoS) blockchain platform launched in 2017, focusing on scalability, security, and sustainability. Here’s a look at its core functionalities:
- Scientific Approach: Cardano prides itself on a peer-reviewed research-driven approach to develop a secure and scalable blockchain platform.
- Proof-of-Stake (PoS): It utilizes a custom PoS protocol called Ouroboros, known for its energy efficiency compared to Proof-of-Work (PoW) blockchains.
- Smart Contracts and dApps: Cardano is designed to support smart contracts and decentralized applications (dApps), similar to Ethereum.
- Layered Architecture: Cardano employs a layered architecture separating transaction settlement (Settlement Layer) from smart contract execution (Computation Layer), aiming for better scalability.
- Evolving Ecosystem: The Cardano network is constantly evolving, with ongoing development efforts to introduce new features and functionalities.