Cardano (ADA) is the token on the namesake platform which is designed to run and support financial and decentralized applications (dapps). Ultimately, Cardano wants to create a more flexible and sustainable ecosystem for the crypto projects focused on transfer of value in a more scalable and secure way.
Cardano’s initial development started in 2015. Two years later, its settlement layer was launched as the ledger used in value transfers. At the same time, its computation layer is what also makes Cardano a platform for the execution of smart contracts. Communication between these two layers is to be supported through sidechains.
The main team behind Cardano consists of the Cardano Foundation, IOHK company and Emurgo, together with its co-founder Charles Hoskinson who also founded Ethereum and exists as a crypto celebrity with strong views which often earn him a spot in various news.