In addition to the community of developers, node operators, and projects, Cardano is supported by multiple entities: Input Output Global (IOG), dcSpark, MLabs, The Cardano Foundation, EMURGO, and more. They work together to support the network’s development, adoption, and finances while Cardano moves toward the age of Voltaire.
Cardano has taken a unique approach to development when compared to other smart contract networks. The Ouroboros consensus model allows for delegation of stake, the extended unspent transaction output (eUTXO) accounting model enables native token transfers, scalability, and decentralization, and smart contracts were enabled by the Alonzo hard fork in 2021.
With a dedicated community of users and developers, Cardano has demonstrated staying power. Post-Alonzo, Cardano began to compete in more traditional crypto markets, such as DeFi and NFTs, while remaining focused on its core goals. For a full primer on Cardano, refer to our Initiation of Coverage report.
Messari Report - https://messari.io/report/state-of-cardano-q3-2023