Cardano is not like your conventional blockchain platform. What’s really special and unique about this platform is the fact that it is the first ever technological platform/blockchain project that evolves from scientific philosophy. It is somewhat similar to Ethereum since both of them are smart contract platforms however it focused on offering scalability as well as security through layered architecture.
Being call a cryptocurrency is an understatement for Cardano. Cardano is a technological platform which is able to facilitate and run financial applications which is now popular among individuals, firm, corporations, organisations and even governments. As mentioned before, the Cardano platform comes with a layered structured which equipped the platform with great flexibility and easy maintenance. This layered structure also allows easy upgrades in the way of soft forks. Another great advantage of Cardano is that it is able to run decentralised applications(Dapps), on a blockchain network and not controlled by any single party.
While Ethereum had done a remarkable job as a smart contract platform, Charles Hoskinson, co-founder of Ethereum and Cardano states that Ethereum is a 2nd generation blockchain which needed an evolution. Knowing the fact that blockchain needed to evolve, Hoskinson extracted some of the positive elements from the first and second generation blockchain along with some elements of his own and come up with Cardano, a first of its kind 3rd generation blockchain build from the foundations of scientific philosophy and peer-reviewed academic research. While building Cardano, the team puts both regulators and end users in mind as an efforts to find a middle ground between the principle of decentralization which is the absolute core of blockchain and the need of a regulation on the privacy.
Although there are a lot of blockchain project out there boasting about overhauling the entire financial system, Cardano isn’t one of them. The purpose and aim of Cardano is to utilises the technologies of blockchains to bring banking system to every corner of the world especially places like developing countries where the implementation of the banking system would be too costly to implement.
The PDF of the Cardano (ADA) Whitepaper is included in the section below for reading and downloading purpose.