Cardano
Crypto Overview
Project Overview
Cardano is a third-generation blockchain platform founded by Charles Hoskinson, co-founder of Ethereum. It employs a research-first approach and peer-reviewed academic research in its development. The platform uses a Proof of Stake consensus mechanism called Ouroboros, which is more energy-efficient than Proof of Work systems.
Intended Utility
Cardano aims to provide a more sustainable, scalable, and interoperable blockchain platform for developing decentralized applications (dApps), handling complex computational tasks, and enabling smart contracts through its native programming language, Plutus. The ADA token serves multiple purposes: as a cryptocurrency for value transfer, as stake for network security, and for governance participation.
Actual Utility & Adoption
The platform has demonstrated significant development activity, with over 7.3 million native tokens created and more than 1,000 projects building on Cardano as of 2024. The network has processed over 80 million transactions and maintains about 3,000 active stake pools. Major partnerships include collaborations with governments and enterprises in Africa for digital identity and education verification systems.
Token Distribution & Governance
The initial distribution allocated 16% to project founders, 13% to IOHK (development company), 11% to Emurgo (business development), and 60% to public sale participants. Cardano employs a treasury system where a portion of all transaction fees funds future development, decided through community voting.
Development vs. Marketing
Cardano consistently ranks among the top blockchains in terms of developer activity. The project emphasizes technical development over marketing, with regular technical updates and peer-reviewed research publications. The development team maintains transparent roadmaps and progress reports.
Crypto Impact
To assign a comfort level investing in Cardano from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Cardano.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.