The post What is Cardano? Inside the Third-Generation Blockchain appeared on BitcoinEthereumNews.com.

What is Cardano? Cardano is a proof-of-stake blockchain that builds on peer-reviewed research developed using a methodical, academic approach. It positions itself as a third-generation blockchain designed to improve upon the technology behind Bitcoin (first generation) and Ethereum (second generation) by addressing their scalability, security, and sustainability. With its focus on formal verification and peer-reviewed advancements, Cardano aims to provide a sustainable and interoperable blockchain ecosystem suited for enterprises, governments, and financial institutions. Below, we will explore the key components of the Cardano blockchain. Who created Cardano? Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson. It was developed by Input Output Global in collaboration with the Cardano Foundation and blockchain developer Emurgo. After two years of research and development, Cardano launched in 2017 with the Byron era. This phase introduced the ADA cryptocurrency and the Ouroboros proof-of-stake consensus protocol, named for the ancient symbol of a snake or dragon eating its tail in a circle. This phase also introduced the Daedalus and Yoroi wallets, laying the groundwork for Cardano’s growing ecosystem. Cardano’s development unfolds in five eras, each named after historical figures, to reflect its evolution. From its research beginnings to its phased rollouts, here’s how Cardano has evolved. A brief history of Cardano 📚 2015 – Cardano begins as a research project exploring how developers can improve cryptocurrencies. 👨‍🎨 September 2017 – Cardano launches its first phase, Byron, enabling ADA transactions on a federated network. 🤖 July 2020 – The Shelley phase goes live, introducing staking and significantly increasing network decentralization. 📝 September 2021 – The Goguen phase, implemented through the Alonzo hard fork, brings smart contract functionality and native token support. ⚡ September 2022 – The Basho phase advances with the Vasil upgrade, enhancing the networks’ transaction efficiency and smart contract capabilities. 🗳️ September 2024 –…

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Filed under: News - @ February 13, 2025 1:22 am