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What the Cardano team did with the Ouroboros is to divide physical time into epochs made of slots. These so-called epochs operate in an annular fashion whereby when one epoch ends; another comes online. This helps to reduce network congestion and save on gas fees.
The epochs are divided further, with each having a slot leader chosen by other nodes. These slot leaders will see the creation and confirmation of transaction blocks to be added to the blockchain. If the selected slot leader cannot create a transaction block in an epoch, the next slot leader will have a go.
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Bitcoin was created to eliminate a central authority in verifying transactions. Due to its simple design, it was very secure.
Ethereum brought smart contracts and decentralized apps. But Ethereum has run into such problems as
Cardano developers can now create custom tokens or import projects from other blockchains into the Cardano network. This could be beneficial for new and interesting projects such in the DeFi and NFT ecosystem.
The Cardano blockchain is stratified into two layers, the Cardano Settlement Layer (CSL) and the Cardano Computational Layer (CCL).
The CSL is Cardano’s balance ledger. Using a proof-of-stake consensus algorithm (Ouroboros protocol) to generate new blocks and confirm transactions.
Cardano is supported by the same-named foundation that aids the research and development of the protocol and its community. The Cardano project’s development is spearheaded by the for-profit company Input Output Hong Kong (IOHK). Hoskinson also heads IOHK. The project signed up leading academics ...
Cardano has been different from other blockchain projects from the start. In lieu of publishing a white paper, Cardano adopted a collection of unique design principles, engineering best practices, and created
Cardano is a public, open-source blockchain for building and running smart contracts and other decentralized protocols. The project was built from the ground-up by a team led by Charles Hoskinson , a co-founder of Ethereum. In contrast to many blockchains, Cardano did not kick off with a white pa...
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