What is Cardano?
Cardano is an open-source blockchain platform designed to support smart contracts and decentralized applications (dApps). Its native cryptocurrency is called ADA, named after mathematician Ada Lovelace. The project was founded in 2015 by Charles Hoskinson, one of Ethereum’s co-founders, and officially launched in 2017. Cardano aims to be a scalable, interoperable, and sustainable platform for the development of financial applications and other decentralized services.
Whitepaper: https://www.lcx.com/ada-mica-white-paper/
How does Cardano work?
Cardano uses a Proof-of-Stake (PoS) consensus mechanism called Ouroboros. Unlike the energy-intensive Proof-of-Work (PoW) system, where miners compete to solve complex calculations, PoS selects validators based on the number of tokens they own and are willing to stake as collateral. This mechanism improves energy efficiency and promotes decentralization within the network.
The token
Ticker: ADA
Category: Smart Contracts Platform
Blockchain: Cardano
Protocol: Proof-of-Stake (Ouroboros)
Launch date: 2017
The technology behind Cardano
Cardano stands out thanks to its layered architecture, which includes:
- Cardano Settlement Layer (CSL): This layer handles the transfer of ADA tokens and serves as the network’s accounting layer.
- Cardano Computation Layer (CCL): This layer supports smart contracts and dApps, allowing developers to build flexible and scalable applications.
This separation allows for greater flexibility and scalability across the network.
The Cardano ecosystem
The Cardano ecosystem is made up of several core components:
- IOHK (Input Output Hong Kong): A technology company responsible for designing and developing Cardano.
- Cardano Foundation: A non-profit organization that oversees the promotion and adoption of Cardano, as well as standardization and regulation.
- Emurgo: A company that invests in startups and businesses that strengthen the Cardano ecosystem.
Together, these entities drive the growth and adoption of Cardano across various sectors.
Who founded Cardano?
Cardano was founded by Charles Hoskinson, one of the co-founders of Ethereum. After leaving Ethereum, he founded IOHK, a company focused on developing blockchain and cryptocurrency projects, including Cardano.
Price at this moment
24h ago
€0.61689986
The value of Cardano 24 hours ago
24h highest price
€0.64067100
The highest value of Cardano the last 24 hours
24h lowest price
€0.61603300
The lowest value of Cardano the last 24 hours
24h difference
€0.00739114
The value in which Cardano has dropped or increased the last 24 hours
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official information provided by the project via https://www.lcx.com/ada-mica-white-paper/
Before trading, make sure to read the general risk warning on crypto asset trading:
Cryptocurrencies, including Cardano (ADA), are volatile and carry risks. The value of ADA can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.