Cardano is a high-profile smart contract platform and one of our favorite projects that we have analyzed. The platform is under development by IOHK, a blockchain consulting company led by Charles Hoskinson, the former CEO and Co-Founder of Ethereum. The team behind the project is technically competent and we have been impressed with their current and proposed technology. We caution investors that Cardano is still in a very early stage. There is a native token, ADA, and a standalone network, but all validating nodes are controlled by the project’s creators and the current iteration of the platform does not feature smart contract execution. Furthermore, many technical and economic decisions have not been definitively decided.