Cardano is a proof-of-stake blockchain platform whose goal is to enable “changers, innovators, and visionaries” to bring about positive change globally. This open-source project also aims to “re-allocate power from accountability structures to the edge to individuals”—helping to create a safer, more transparent, and just society.
Cardano was founded in 2017, and the ADA token is designed to ensure that holders can participate in the operation of the network. For this reason, cryptocurrency holders have the right to vote on any proposed software change. The team that created this layered blockchain says there are already several exciting use cases for their technology. The team’s purpose is to enable decentralized applications and smart contracts to grow modularly.
Agricultural companies use Cardano to track fresh produce from the field to the table, while other products built on top of this allow for educational credential storage to combat counterfeiters and retailers to prevent counterfeiting.