This article has been translated from English to Gen Z Slang.
Cardano is totes a decentralized blockchain platform that vibes with the proof-of-stake (PoS) protocol, and it’s all about that native cryptocurrency ADA. ✨
The tea is that ADA and Cardano (the blockchain) go together like ether and the Ethereum blockchain. They're basically besties. 🤝
Cardano's out here being a public blockchain, spilling its open-source vibes to the world. Its whole deal was to glow-up from Bitcoin’s issues with speed and flex, plus Ethereum’s prob with scaling. 🚀
Charles Hoskinson, one of the OG co-founders of Ethereum, started the Cardano hustle back in 2015 after bouncing from the Ethereum squad. 🏃♂️
Turns out, Hoskinson and the Ethereum co-founder Vitalik Buterin had beef about inviting venture capitalists to the Ethereum party in its early days. 😬
Hoskinson was like, “Let’s get those coins and be a for-profit thing,” but Buterin was like, “Nah fam, let’s stay open-source.” The community stuck with Buterin’s vision, and they weren’t here for Hoskinson's suggestions. 😅
Hoskinson had to peace out and exited Ethereum. 🚪🚶♂️
By 2015, Hoskinson linked up with the Input Output Hong Kong (IOHK) project, vibing on a quest for a scalable and safe blockchain for schools, big companies, and even the gov. 🏢
The OG plan was to serve up an Ethereum copycat focused on commerce and rules for the Japanese market. 🇯🇵
But then, they went global with the vibes. 🌍
Cardano’s main flex in the beginning was its proof-of-stake (PoS) game-changer at a time when BTC and ETH were still on that proof-of-work (PoW) grind. 💪
PoS was about being energy-saving, staking for the win, while PoW was burning up that computing juice. ♻️
PoS is the real MVP for validating transactions and creating new ADA on the Cardano blockchain.
Fast forward to 2021 with the Alonzo mainnet drop, Cardano finally hit us with smart contract powers, shutting down haters who thought Hoskinson and crew were asleep on releases. 😴
Dropping the Alonzo hard fork and flexing smart contract development is gonna usher in an era where native decentralized applications (DApps) blossom on the blockchain. 🌸
ADA’s holding it down as a top 10 crypto by market cap, flexing a chill $15 billion mcap in August 2022. 💸
ADA's got a max limit of 45 billion, with 33 billion already in the wild. 🚀