What is Cardano (crypto)?

Like rival Ethereum ( CRYPTO:ETH ), Cardano has smart contract functionality. Developers can use it to build decentralized apps ( dApps) and large decentralized finance ( DeFi) platforms. Cardano calls itself a platform for changemakers, innovators, and visionaries.

Is Cardano a sustainable blockchain platform?

Cardano’s goal is to be the most environmentally sustainable blockchain platform. It uses a unique proof of stake consensus mechanism called Ouroboros, as opposed to the energy-intensive proof-of-work system currently used by Bitcoin.

What is the difference between Bitcoin and Cardano?

There are several key differences between Bitcoin and Cardano. Bitcoin was developed to be a peer-to-peer payment system. Cardano is an ecosystem that allows other developers to create tokens, decentralized applications (dApps), or other use cases for scalable blockchain network.

What are Cardano native tokens?

On March 1, 2021, the Cardano blockchain introduced the ability to create native tokens. Like Ethereum tokens — which can include things like NFTs or stablecoins like USD Coin — Cardano native assets can be created and distributed on the blockchain and are able to interact with smart contracts.