Cardano SL (or Cardano Settlement Layer) is a cryptographic currency designed and developed by IOHK in collaboration with the University of Edinburgh, the University of Athens and the University of Connecticut. Cardano SL is based on the Haskell implementation of the White Paper “Ouroboros: A Provides Secure Proof or Stake Blockchain Protocol” by Aggelos Kiayias, Alexander Russell, Bernardo David and Roman Oliynykov.
Cardano is the home of the ADA cryptocurrency, which can be used to send and receive digital funds. This digital money represents the future of money, enabling fast, direct transfers that are guaranteed to be secure through the use of cryptography.
Cardano is more than just a cryptocurrency, it is also a technological platform that is capable of running financial applications that are nowadays used every day by individuals, organizations and governments around the world. The platform is built in layers, this flexibility makes it easier to maintain and make upgrades possible through soft forks.
After the settlement layer on which Ada will run is completed, a separate computing layer will be built to handle smart contracts, the digital legal agreements that will support future trade and business.
Cardano will also run decentralized applications or dapps, services that are not managed by a single party but instead operate on a blockchain.
This is the first blockchain project developed from a scientific philosophy and the only thing that needs to be designed and built by a worldwide team of leading academics and engineers. It is essential that the technology is safe, flexible and scalable for use by many millions of users.
The scientific accuracy needed and used on mission-critical systems such as aerospace and banking has been applied in the field of cryptocurrencies, with a high degree of reliability. We believe that this is the first time that this has happened.
An important innovation of Cardano is the balance between the needs of the user and those of supervisors, and in this way combines privacy and regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by making honest financial services accessible to everyone.
Cardano was developed by IOHK under of Charles Hoskinson and Jeremy Wood.