What is the purpose of Cardano?
The purpose of Cardano is to create a blockchain-based platform that is capable of running financial applications for individuals, organizations, and governments.
It is designed to be a secure, scalable, and sustainable platform for the development of decentralized applications (dApps). Cardano also aims to provide users with a platform that allows them to securely store, send, and receive digital assets. Cardano is based on a proof-of-stake consensus algorithm called Ouroboros.
This algorithm allows users to stake their ADA tokens in order to validate transactions on the network. This helps to ensure that the network remains secure and efficient. Additionally, Cardano uses a layered architecture which separates the settlement layer from the computation layer.
This allows for more flexibility when it comes to developing dApps on the platform. Cardano also has its own native cryptocurrency called ADA which can be used as a medium of exchange within the network. The goal of Cardano is to become an open financial system that can be used by anyone around the world regardless of their location or economic status.
