Cardano is a blockchain platform designed to provide a more balanced and sustainable ecosystem for cryptocurrencies. It was founded in 2017 by Charles Hoskinson, a co-founder of Ethereum, and is developed by the company Input Output Hong Kong (IOHK). Cardano aims to address the scalability, interoperability, and sustainability issues present in earlier blockchain platforms.
The platform uses a unique proof-of-stake consensus mechanism called Ouroboros, which is designed to be energy-efficient and secure. This approach allows Cardano to process transactions and smart contracts with lower energy consumption compared to traditional proof-of-work blockchains.
Cardano's native cryptocurrency is called ADA, named after Ada Lovelace, a 19th-century mathematician recognized as one of the first computer programmers. ADA is used to pay for transactions on the network and can be staked to support the network's security and operations.
As of now, ADA is trading at approximately $0.705879, with a 24-hour change of +0.03924%. The intraday high and low are $0.708332 and $0.656659, respectively.
For more information about Cardano and its developments, you can visit the official website at cardano.org.
#TradeStories #FOMCMeeting #MEMEAct #BitcoinReserveDeadline #USStablecoinBill
