$ADA is the native cryptocurrency of the Cardano blockchain platform. Founded by Charles Hoskinson, co-founder of Ethereum, Cardano stands out for its scientific approach and its development based on academic research and peer review. The network uses a proof-of-stake (PoS) protocol called Ouroboros, making it a more energy-efficient alternative compared to proof-of-work (PoW) blockchains like Bitcoin.
The main functions of ADA include paying transaction fees, staking (allowing ADA holders to earn rewards and contribute to network security), and participating in the decentralized governance of the network, where ADA holders can vote on development decisions.
Throughout its history, Cardano has implemented significant upgrades such as Shelley, which increased decentralization, and Alonzo, which introduced smart contracts, enabling the development of decentralized applications (dApps) and DeFi projects in its ecosystem.
The price of ADA, like that of other cryptocurrencies, is volatile and is influenced by various factors, including technological updates, regulatory developments, and the adoption of DeFi. Price predictions vary widely, but the future of ADA is tied to the growth of its ecosystem, the efficiency of its scaling solutions like Hydra, and the advancement of its on-chain governance.
