Cardano
CardanoRank: # 13
Market Cap: $ 9,935,672,200
Volume (24hrs): $ 504,128,807
Circulating Supply: 36,826,790,816 ADA
Price in BTC: Ƀ 0.00000380
Change (1 Hr): 0.07%
Change (7 Days): -6.12%
Change (30 Days): -10.30%
All Time High: $ 3.09
All Time High Date: September 2, 2021
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- SEC ends case against Justin Sun with $10M settlementCointelegraph.com News - 5 hours agoThe Securities and Exchange Commission has ended its long-running fraud and securities violation lawsuit against Justin Sun in a $10 million settlement.The US Securities and…
- Ether’s path to $2.5K may be trickier than expected: Here’s whyCointelegraph.com News - 6 hours agoCrypto markets spent the week chasing green, but Ether’s rally toward $2,500 might hit significant setbacks. Cointelegraph explains why.Key takeaways:ETH derivatives signal a shift to…
- IRS proposes mandating electronic delivery of tax forms for cryptoCointelegraph.com News - 7 hours agoIf adopted, the proposal will take effect on Jan. 1 of the calendar year following the publication of the final IRS rules.The US Internal Revenue…
- Bitcoin miners offload 15K BTC since October, with more sales expectedCointelegraph.com News - 7 hours agoPublic miners are trimming Bitcoin reserves as tightening margins, debt pressure and a post-crash reset force the industry to rethink its once-popular hold strategy.Bitcoin mining…
- CleanSpark sells 553 BTC for $36.6M in February as miners offload BitcoinCointelegraph.com News - 8 hours agoThe Nasdaq-listed miner sold nearly all of its February production while expanding power capacity in Texas and maintaining a treasury of more than 13,000 BTC.US…
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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