Cardano
Note: Data in this section last updated August 26th, 2022
Often called the first “third-generation” blockchain, Cardano was conceived in 2015 by Ethereum Co-Founder Charles Hoskinson and launched in 2017. After several years of development, smart contracts started to go live in late 2021.
Cardano achieves scalability through two main methods:
Its “Ouroborous” Proof-of-Stake algorithm, which uses the random sampling of validators for consensus
A two-layer approach, which splits the blockchain into a settlement layer that holds data and a computation layer that supports contract execution
Notable dApps in the Cardano ecosystem include:
Cardano Ecosystem Overview
Although Cardano officially launched smart contracts in September of 2021, the project now claims to host over 200 dapps.
The protocol has its share of supporters and detractors. Some of the more common praises and criticisms are listed below:
While Cardano is very popular among developers (no doubt due to its academic focus), the lack of commercial traction is concerning. Silicon Valley is rife with stories of a superior technologies losing because they waited too long to go to market, and it’s starting to seem like this could be the case for Cardano as well.
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