Cardano is based on Ethereum, but with a few key differences. For one, Cardano uses a proof-of-stake algorithm called Ouroboros, while Ethereum uses a proof-of-work algorithm. This means that Cardano is more energy efficient than Ethereum.
NOTE: WARNING: Cardano is not based on Ethereum. As a blockchain platform, Cardano is built from the ground up and is not built on or derived from Ethereum. Therefore, it is important to note that the two networks are completely different and they cannot be used interchangeably.
Additionally, Cardano has a separate layer for smart contracts, which allows for more flexibility and security. Finally, Cardano is designed to be more scalable than Ethereum, with the goal of being able to handle millions of transactions per second.
In conclusion, Cardano is based on Ethereum but has several key advantages that make it a more attractive option for businesses and investors.
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