Cardano is an open-source blockchain and smart contracts platform, supported by the namesake cryptocurrency Cardano (ADA).
The project is a direct competitor to Ethereum, and the two organizations also share a co-founder between them — Charles Hokinson.
Hokinson claims that Cardano has cracked the problem of scalability with blockchains through its ‘Ouroboros‘ proof of stake (PoS) algorithm.
While many in the industry — including Hokinson’s former colleagues Ethereum’s Vitalik Buterin and EOS’s Daniel Larimer — are not amused by this claim, Cardano has managed to rise the ranks of cryptocurrencies rather quickly, to be one among the ten largest by market capitalization.
