What is Cardano ($ADA )?
Cardano ($ADA ) is a decentralized blockchain platform designed to provide security, transparency, and sustainability. It was founded in 2017 by Charles Hoskinson, one of the co-founders of Ethereum.
Cardano aims to enable fast, low-cost, and energy-efficient transactions. It uses a Proof-of-Stake (PoS) consensus mechanism, which is significantly more energy-efficient than Bitcoin and Ethereum’s Proof-of-Work (PoW) system.
The native token of the Cardano network is ADA, which allows users to make transactions, earn rewards through staking, and participate in network governance.
Cardano follows a three-phase development model: Byron, Shelley, and Goguen, each designed to improve the network gradually.
With its speed, security, and low transaction fees, Cardano is considered a competitor to Ethereum, Solana, and Polkadot. Because of these features, ADA is seen as a promising long-term investment option.
