WHAT IS CARDANO?
Cardano is a publicly decentralized blockchain and crypto currency that is completely open source. It is currently under development to become a smart contract platform with more advanced features than previous smart contract platforms such as Ethereum or Ark. According to the makers, it is also the first blockchain platform that originated from a scientific philosophy and has a research-based approach. The team of developers consists of a large and global collective of expert engineers and researchers.
Cardano uses a new kind of Proof of Stake (PoS) algorithm called Ouroboros. This determines how individual nodes reach a consensus in the network. In their own words, this is the first and only Proof of Stake protocol that has scientifically proven security. Furthermore, the project focuses on user privacy and is open-source and free of patents.
There is a wallet available for ADA called Daedalus. This is created by IOHK with a strong focus on safety and advanced cryptography. In the future, Daedalus will also support other crypto currencies such as Bitcoin, Ethereum Classic and many others.