Assets, Ethereum

Is Cardano Built on Ethereum?

Cardano is a smart contract platform with a native token, ADA, that can be used to send and receive value. Cardano is built on a proof-of-stake consensus protocol called Ouroboros and has a multi-asset ledger.

Cardano also has a decentralized virtual machine called Plutus that allows for the creation of smart contracts on the platform.

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.

Ethereum is built on a proof-of-work consensus protocol and has a native token, ETH, that is used to pay for gas, which is the fee charged for running a smart contract on the Ethereum network.

Cardano is not built on Ethereum, but both platforms share some similarities. Both Cardano and Ethereum are decentralized platforms that run smart contracts. Both platforms have their own native tokens (ADA and ETH) that are used to pay for transaction fees. However, there are some key differences between the two platforms.

Cardano uses a proof-of-stake consensus protocol called Ouroboros, while Ethereum uses a proof-of-work consensus protocol. Additionally, Cardano has a decentralized virtual machine called Plutus that allows for the creation of smart contracts, while Ethereum does not have a Plutus equivalent.

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