$ADA ADA is the native cryptocurrency of the Cardano blockchain platform. Here's a breakdown of what that means:

What is Cardano (and ADA)?

* Third-Generation Blockchain: Cardano is often referred to as a "third-generation" blockchain, aiming to improve upon the scalability, security, and sustainability issues faced by earlier blockchains like Bitcoin (first-gen) and Ethereum (second-gen).

* Proof-of-Stake (PoS): Unlike Bitcoin's energy-intensive "Proof-of-Work" (PoW) mechanism, Cardano uses a PoS consensus protocol called Ouroboros. This allows for more energy-efficient transaction validation.

* Scientific and Peer-Reviewed Approach: A distinguishing feature of Cardano is its rigorous, research-driven development. It emphasizes academic peer-review for its upgrades and innovations.

* Smart Contract Functionality: Like Ethereum, Cardano supports smart contracts, which are self-executing agreements. This allows developers to build decentralized applications (dApps), new crypto tokens, games, and decentralized finance (DeFi) platforms on its network.