Cardano (CRYPTO:ADA) is a decentralized proof-of-stake (PoS) blockchain platform that launched in 2017. It was designed to address the scaling and infrastructural limitations of first-generation blockchain networks like Bitcoin and Ethereum. Cardano is one of the largest blockchain networks to have successfully implemented a PoS consensus mechanism, which is more energy-efficient than alternative proof-of-work (PoW) blockchain networks. Cardano also supports smart contracts, which allow developers to build decentralized applications (DApps) on the platform. The native Cardano cryptocurrency token is ADA, which enables users to participate in network operations. In 2022, Cardano made significant progress in improving network scalability through the Vasil hard fork. The network is further exploring this area with the preparation for Hydra, a layer 2 scaling solution that will allow developers to introduce specialized and complex protocols to the platform.