Cardano is a third-generation cryptocurrency platform and a decentralized application (DApp) development platform, launched in September 2017 by one of Ethereum's co-founders, Charles Hoskinson. Unlike first and second-generation blockchains like Bitcoin and Ethereum, Cardano aims to solve issues related to scalability, interoperability, and sustainability on cryptocurrency platforms. It introduces a novel proof of stake (PoS) mechanism called Ouroboros, positioning itself as an environmentally sustainable blockchain platform. Cardano's primary purpose is to balance the needs of users with those of regulators, and in doing so, combine privacy with regulatory compliance.