Cardano - price, chart, price history, converter

$ 0.389084
0.00001712 BTC
$ 13,637,124,674
Volume (24h)
$ 375,583,635
Circulating Supply
35,045,020,830 ADA
Total Supply
45,000,000,000 ADA

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What is Cardano?

ADA is a cryptocurrency that runs on the Cardano Settlement Layer (CSL) blockchain, the first and most secure blockchain based on the Proof of Stake mechanism that validates transactions. The Cardano team calls their proof of stake mechanism Ouroboros. Unlike Proof of Work, where miners invest energy-intensive computing power to mine each block, Proof of Stake chooses a random miner based on the size of the stake (value). To generate or create a new block, a slot leader is chosen with a probability proportional to the amount of coins this node carries. So, one of ADA's advantages over Bitcoin, Ethereum, and other similar cryptocurrencies is its energy-efficient staking transaction validation system. ADA is flexible like Ethereum thanks to the second Cardano Computational Layer (CCL) which supports decentralized applications and smart contracts.

ADA was originally created by Input Output Hong Kong (IOHK), a blockchain development firm. The project was led by Charles Hoskinson, former co-founder of Ethereum, Ethereum classic and Bitshares. Currently, the ADA team consists of three organizations, i.e. Cardano foundation, IOHK and Emurgo.

The major use of Cardano is the transfer of value. Future application development on CCL layer can provide easy and economical payment solution to service providers like Uber, Upwork and alike.