$ADA

Cardano Aims to Create a Global and Versatile Ecosystem

What Is Cardano?

Cardano is a blockchain project and cryptocurrency founded by Charles Hoskinson, one of Ethereum's co-founders, to "provide a more balanced and sustainable ecosystem" for cryptocurrencies. According to its website, ADA is the only coin with a "scientific philosophy and research-driven approach." In practical terms, this means that its open-source blockchain undergoes a rigorous peer-review process by scientists and programmers in academia.

Key Takeaways

Cardano is a blockchain project designed to be used as a decentralized global development platform.

Cardano's native token is ADA, named for Ada Lovelace, commonly considered the first computer programmer.

Cardano was created by Charles Hoskinson and Jeremy Wood in 2017.

The Cardano blockchain uses the Ouroboros proof-of-stake protocol.

Cardano History:

Cardano was originally released in 2017 by Hoskinson and Jeremy Wood after founding IOHK in 2015, a business created to develop blockchains for enterprise uses. The Cardano blockchain uses a proof-of-stake consensus mechanism called Ouroboros and has a total supply of 45 billion ADA.

ADA was named after Ada Lovelace, a nineteenth-century mathematician considered by many to be the first computer programmer.

How Is Cardano Different From Bitcoin and Ethereum?

Cardano calls itself the first third-generation blockchain created to tackle scalability, interoperability, and sustainability issues Bitcoin (first-generation blockchain) and Ethereum (second-generation blockchain) had. As part of its attempts to improve upon previous blockchains, the primary differences are in its accounting model and governance system.