Cardano is a proof-of-stake type of cryptocurrency made in 2017. This means that the blockchain’s focus is to validate blocks rather than to mine. Thus, decisions in the software are created through the consensus of the participants. Compared to Bitcoin, which is a proof-of-work system, Cardano uses lesser energy to operate, and it has taken several upgrades to decentralize its system up to 50 to 100 times.
Cardano is ranked high in the crypto space as users like its efficient system. The max supply of Cardano is capped at 45 billion, and this means that it is the number that can be created or mined by users.
As a new cryptocurrency, Cardano continually exceeds expectations, and it has risen to the top due to its capabilities to be used in various applications in agriculture, education, and even in health.