Cardano
CardanoRank: # 14
Market Cap: $ 9,860,898,286
Volume (24hrs): $ 450,307,147
Circulating Supply: 36,994,533,150 ADA
Price in BTC: Ƀ 0.00000331
Change (1 Hr): -0.23%
Change (7 Days): 1.40%
Change (30 Days): 11.07%
All Time High: $ 3.09
All Time High Date: September 2, 2021
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- Gemini reports 42% revenue growth after expansion into financial servicesCointelegraph.com News - 6 hours agoGemini credit card revenue surged nearly 300% to $14.7 million in Q1, attributed to significant growth in its user base. Crypto company Gemini reported a…
- Crypto data company Dune cuts 25% of staff in restructuringCointelegraph.com News - 6 hours agoDune co-founder and CEO Fredrik Haga says the company’s staff cuts come as it shifts focus and is “all-in” on AI and institutional interest in…
- Strive rallies 5.8% as it clears debt in Q1, unveils daily dividendsCointelegraph.com News - 8 hours agoStrive reported a net loss of $265.9 million for Q1, which it attributed to the fall in market value of its Bitcoin holdings, but saw…
- UK politician Nigel Farage bought $1.8M house after a $6.7M crypto giftCointelegraph.com News - 12 hours agoThe news follows growing calls from UK lawmakers and government officials to curb or temporarily ban crypto political donations in the country.United Kingdom politician Nigel…
- Dartmouth endowment invests in Solana ETF, holds $14M in crypto exposureCointelegraph.com News - 12 hours agoThe unversity’s endowment disclosed holdings in the Bitwise Solana staking ETF, Grayscale Ethereum staking ETF and BlackRock’s iShares Bitcoin ETF.The $9 billion endowment of Ivy…
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.
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