$ADA ADA is the native cryptocurrency of the Cardano blockchain platform, a third-generation project designed to offer a more scalable, sustainable, and interoperable solution than its predecessors like Bitcoin and Ethereum. Launched in 2017 by Ethereum co-founder Charles Hoskinson, Cardano utilizes a peer-reviewed, research-driven approach to its development.

At its core, Cardano employs a Proof-of-Stake (PoS) consensus mechanism called Ouroboros, which is significantly more energy-efficient than Proof-of-Work (PoW) systems. ADA tokens are used for various purposes, including facilitating transactions, paying network fees, and participating in the platform's governance through staking. Staking allows ADA holders to earn rewards by helping to secure the network. Cardano aims to provide a robust infrastructure for decentralized applications (dApps) and smart contracts, with a strong focus on real-world utility and addressing financial inclusion.