ADA is the cryptocurrency of the Cardano platform, a decentralized blockchain developed to provide a more secure and efficient financial and technological system. Cardano is designed using a scientific approach based on academic research and evidence-based development, making it one of the most advanced blockchain projects.
Cardano uses a consensus mechanism called Proof of Stake (PoS), known as Ouroboros, which makes it more energy-efficient compared to Proof of Work (PoW) systems like Bitcoin.
ADA is used for transaction fees, securing the network through staking, and enabling smart contracts and decentralized applications (dApps) on the Cardano blockchain. It also aims to improve access to financial services, especially in regions with limited banking infrastructure.
