Founded by Charles Hoskinson who was also one of the founders of Ethereum, Cardano started its development in 2015. Designed and developed by IOHK in conjunction with the University of Edinburgh, the University of Athens and the University of Connecticut, Cardano SL (or Cardano Settlement Layer) is a Proof of Stake cryptocurrency based on the Haskell implementation of the white paper u201cOuroboros: A Provably Secure Proof of Stake Blockchain Protocol by Aggelos Kiayias, Alexander Russell, Bernardo David and Roman Oliynykov.
Cardano is reportedly the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach and it is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. Cardano will use a democratic governance system that allows the project to evolve over time, and fund itself sustainably through a treasury system. Cardano also notes that it will combine users' need for privacy with regulation, so that Cardano's style of regulated computing will foster greater financial inclusion.
Cardano team has limited the maximum number of ADA coins at around 45 billion.
Highly secure programming language named Haskell, which is considered the most secure software language, reducing the risk of DDOS attacks and critical errors.
Cardano uses the innovative Proof of Stake algorithm named Ouroboros, which is the first truly secure method for users, as confirmed by scientific research.
Unlike many cryptocurrencies offering anonymity, Cardano team has very well relations with governments and regulatory authorities especially in Japan, which until recently had condemned the idea of cryptocurrencies.
Cardano has a Staking mechanism, with the help of which it is possible to earn money on the storage of ADA.
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