$ETH Cardano (ADA) is a third-generation, open-source, decentralized public blockchain and cryptocurrency project. Launched in 2017, it was founded by Charles Hoskinson, co-founder of Ethereum, with a focus on peer-reviewed academic research and a science-first approach to development.

Cardano aims to provide a more scalable, sustainable, and interoperable blockchain platform for decentralized applications (dApps) and smart contracts. It utilizes a unique proof-of-stake consensus mechanism called Ouroboros, designed to be more energy-efficient than proof-of-work systems. The project is developed in distinct layers: the Cardano Settlement Layer (CSL) for transactions with the ADA cryptocurrency, and the Cardano Computation Layer (CCL) for smart contracts.

ADA is the native cryptocurrency of the Cardano network. It is used for transaction fees, staking to secure the network and earn rewards, and participating in governance. Cardano has a maximum supply of 45 billion ADA.

Currently, the price of ADA is around $0.70 USD. Cardano's focus on research-driven development and its layered architecture position it as a significant contender in the blockchain space, with ongoing development and growing adoption in various applications.