The development of the platform began in 2015, and the use of the platform started in 2017. The platform was developed by Charles Hoskinson, who was also a co-founder of Ethereum and BitShares.
The cryptocurrency Ada debuted with a market capitalization of 600 million dollars. By the end of 2017, it had a market capitalization of 10 billion dollars, and in 2018, it reached 33 billion dollars. As of 22:28 on 03.02.2023, the capitalization of the cryptocurrency stands at 13.9 billion dollars, making it the eighth-largest cryptocurrency by this metric.
The cryptocurrency Cardano uses its own blockchain called Cardano Settlement Layer (CSL). CSL is a distributed ledger layer for supporting transactions with cryptocurrency wallets. The second layer, called Cardano Computation Layer (CCL), will support smart contracts and decentralized applications. This multi-layered architecture allows for the simplification of protocol upgrades.
Financial state regulators are usually skeptical about the use of anonymous cryptocurrencies in the traditional financial system. To combat this phenomenon, the Cardano platform can optionally include metadata secured by cryptographic methods in the blockchain.
