> For the complete documentation index, see [llms.txt](https://www.digitalnations.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.digitalnations.xyz/web3-overview/the-web3-ecosystem/smart-contract-platforms/who-are-the-key-players/cardano.md).

# Cardano

Note:  Data in this section last updated August 26th, 2022

<figure><img src="https://1848510576-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FAmJeQPCkTT9u0UZ8OI4U%2Fuploads%2FwFQJT1Ne7qUhkPrivVMd%2F22.png?alt=media&amp;token=bee9e7b0-c4cb-4e58-a8d3-976f8074c7b3" alt=""><figcaption></figcaption></figure>

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.&#x20;

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:

&#x20;                                                                    **Cardano Ecosystem Overview**

<figure><img src="https://1848510576-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FAmJeQPCkTT9u0UZ8OI4U%2Fuploads%2FBz00mJBXFCUJAKUjrWKS%2FCardano.jpg?alt=media&amp;token=5a39969e-d6d1-48b6-881d-02007704567a" alt=""><figcaption><p>Source:  <a href="https://coin98.net/cardano-ecosystem">Coin98 Analytics</a></p></figcaption></figure>

Although Cardano officially launched smart contracts in September of 2021, the project now [claims](https://twitter.com/Cardians_/status/1460997588031664130) 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:

<figure><img src="https://1848510576-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FAmJeQPCkTT9u0UZ8OI4U%2Fuploads%2F0vVWlISLMpFxjO3g8XzI%2F6.jpg?alt=media&amp;token=c2a89f97-2a97-4829-aa45-1b29ebc66c73" alt=""><figcaption></figcaption></figure>

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.&#x20;