$ADA ADA is the native cryptocurrency of the Cardano blockchain, a platform designed to be a decentralized network and a smart contract platform. Cardano is distinguished by its scientific approach and development based on peer-reviewed research. Unlike other cryptocurrencies, it uses a consensus mechanism called Ouroboros, which is a proof-of-stake (PoS) mechanism that is more energy-efficient than Bitcoin's proof-of-work (PoW). ADA allows its holders to participate in the governance of the network, stake to support security and earn rewards, and pay transaction fees on the platform.