What is Cardano?
ADA is a crypto coin running on Cardano Settlement Layer (CSL) blockchain, the first and most secure blockchain based on Proof of stake mechanism validating the transactions. 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). In order to generate or mint a new block, a slot leader is chosen with a probability proportional to the amount of coins this node is carrying. So one of ADA's advantages over Bitcoin, Ethereum and other similar cryptocurrencies is its energy-efficient proof of stake transaction validation system. ADA is flexible like Ethereum due to a second layer Cardano Computational Layer (CCL) which supports decentralized applications and smart contracts.
ADA was initially created by Input Output Hong Kong (IOHK), a blockchain development firm. The project was led by Charles Hoskinson who was a former co-founder of Ethereum, Etereum classic and Bitshares. Presently the ADA team consist of three organizations i.e. Cardano foundation, IOHK, and Emurgo.
The major use of Cardano is the transfer of value. Future development of applications on CCL layer can provide the easy and economical payment solution to service providers such as Uber, Upwork, and alike.
Cardano News And Market Price Data
- Historical Data
- Ghana's vice president declares Africa should embrace digital currenciesCointelegraph.com News - 3 hours agoDigital currencies are primed to reinvent trade between African countries. Ghana’s vice president Dr. Mahamudu Bawumia believes that African governments need to embrace digital currencies…
- PayPal's crypto 'super app' set to roll out soonCointelegraph.com News - 3 hours agoDan Schulman said the project was already “code complete” and planned to be fully ramped in the United States in the next several months. Payment…
- Anchorage Digital will custody crypto seized by US MarshalsCointelegraph.com News - 4 hours agoCo-founders Diogo Mónica and Nathan McCauley cited the Anchorage’s “stringent processes and procedures” as likely factors in the decision from the federal agency. Crypto custody…
- Multiverse secures $15M investment from Samsung Next, leading blockchain VCsCointelegraph.com News - 5 hours ago“Ideas have value,” said Cliff Szu, co-founder of Multiverse Labs. “[O]ur overriding goal is to help people with great ideas to discover the true value…
- VORTECS™ Spotlight: Here’s why Telcoin’s (TEL) rebound eclipsed most altcoinsCointelegraph.com News - 6 hours agoAs Bitcoin price reversed course, a key trading indicator flashed bullish hours before TEL embarked on a sharp 82% rally. Last week, as Bitcoin resurged…
Cardano Frequenty Asked Questions
Where does Cardano (ADA) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Cardano currently ranks in position 5 out of the top 1000 cryptocurrencies. Another important factor in popularity is Cardano‘s market capitalization – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Cardano has a market cap of $ 40,761,238,955, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 743,732,120,404, Litecoin at $ 9,189,891,919, Ethereum at $ 267,285,079,569, Tether at $ 61,429,823,361, and XRP at $ 32,554,522,722.
What is the price of Cardano (ADA) today (updated in realtime)?
The current price of Cardano is $ 1.27 in USD. (The price in Euros is 1,08 €; and the price in Bitcoin is Ƀ 0.00003200 BTC.)
How has Cardano (ADA) performed recently?
Cardano‘s price has decreased in the last 24 hours by -1.15%. The change in price over the last seven days was 8.26%. The trading volume over the last 24 hours was $ 1,651,759,385. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds, and it is considered a good indicator of popular interest in the currency.
What is Cardano‘s (ADA) market supply?
The total circulating (available) supply of Cardano is 32,066,390,668 ADA. The total supply of Cardano is 45,000,000,000 ADA.
What is the 24 hour volume for Cardano (ADA)?
The 24 hour volume of Cardano is $ 1,651,759,385.
What is Cardano (ADA) official website?
Cardano‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
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