$ADA 🔹 Name: ADA

🔹 Blockchain: Cardano

🔹 Launched: 2017

🔹 Founder: Charles Hoskinson (also co-founder of Ethereum)

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✅ Key Features:

Native Token of the Cardano blockchain

Used for staking, transactions, and governance

Runs on Proof-of-Stake (Ouroboros) – energy efficient

Supports smart contracts and dApps since the Alonzo upgrade (2021)

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🧠 Purpose:

ADA powers the Cardano ecosystem, aiming to provide secure, scalable, and decentralized finance and identity solutions, especially in developing nations.

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📊 Use Cases:

Paying transaction fees

Staking to earn rewards

Voting on network upgrades

Powering DeFi, NFTs, and smart contracts

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⚠️ Risks:

Competes with Ethereum, Solana, etc.

Slower ecosystem growth than some rivals

Price volatility like other cryptocurrencies