$ADA
The ADA currency is the digital currency of the Cardano platform, one of the prominent blockchain projects focused on sustainability, scalability, and security. Cardano was founded in 2017 by Charles Hoskinson, one of the co-founders of the Ethereum project, and it relies on a Proof of Stake algorithm instead of Proof of Work, making it more energy-efficient.
Cardano aims to provide a platform for developing smart contracts and decentralized applications, with a strong emphasis on academic research and scientific scrutiny before launching any updates. Cardano is developed in stages, with each stage aimed at improving a specific aspect of the network such as decentralization, interoperability, and governance.
ADA is used within the network as a means to pay fees and incentivize validators to secure the network, and it can also be stored and earn profits through the staking process. ADA is among the top ten cryptocurrencies by market cap at various stages, and it has witnessed significant increases during bull runs in the cryptocurrency market.
With its focus on academic development and solving the problems of first and second-generation blockchains, Cardano is considered a promising project for the future of decentralized technologies.
