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What is Cardano y how does it work?

Cardano is so-called third-generation cryptocurrency, as it comes to improve the "problems" that Bitcoin and Ethereum have. Its development began in 2015 and it works as a cryptocurrency and a smart contract platform.

It was launched at the end of 2017 and the brain that is behind Cardano (ADA) is Charles Hoskinson, ex-executive director of Ethereum.

This token can not be mined and works with the system (POS) Proof of Stake or Participation Test, that is rewarding some chosen customers which store their currencies in a Wallet. This causes that the consumption of energy is reduced remarkably.

The future of this cryptocurrency is promising. One of its main purposes is the interoperability between cryptocurrencies. They intend to implant a Side Chains which allow exchange virtual currencies without the need of a third party.

If you want to know in which Wallet to store your Cardano we recommend you take a look at this article where we recommend the most recognized Wallets of this cryptocurrency.

To track any Wallet or transaction made with ADA you just have to access this website, it is an explorer which gives you the available information of the transactions.

 

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