Cardano is a third-generation, decentralized proof-of-stake (PoS) blockchain platform that aims to outperform proof-of-work (PoW) networks. Usually the scalability, interoperability, and sustainability of PoW networks like Bitcoin are limited by the energy use and slow transactions speed.
The ADA token is designed to allow owners to participate in the network's functioning. As a result, ADA holders have the ability to vote on any proposed software updates. The Cardano blockchain may be used for a variety of tasks, including running custom programming logic (smart contracts) and creating programs (dApp).
Cardano employs a proof-of-stake method that eliminates the need for energy-intensive mining. On the Cardano network, ADA holders can participate in transaction verification. The most frequent method is for ADA owners to stake their holdings with pool operators, who serve as miners by executing transactions and creating new blocks.
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