Cardano calls itself a third-generation public blockchain . Its community is working to solve these problems and to improve on its predecessors, such as Bitcoin and Ethereum .
As of October 2021, Cardano is the fourth-biggest cryptocurrency by market capitalization.
What is Cardano?
You’ve heard of first and second-generation cryptocurrencies Bitcoin and Ethereum , right? Cardano calls itself the "first third-generation cryptocurrency." Like Ethereum, it aims to be a platform on which people can create smart contracts.
Cardano is an open platform that seeks to provide economic identity to the billions who lack it by providing decentralized applications to manage identity, value and governance
— Charles Hoskinson (@IOHK_Charles) August 2, 2020
It was created by a team led by Charles Hoskinson, in a bid to create a "more balanced and sustainable ecosystem" for cryptocurrencies. Originally developed as a research project, Cardano has evolved into a blockchain platform in its own right. Its creators believed that smart contract blockchains such as Ethereum face challenges around scalability and interoperability, and that those challenges can best be addressed by a new platform developed from the ground up.
The person most responsible for the creation of Cardano is Charles Hoskinson, who was actually one of the co-founders of Ethereum.
A brief history