$ADA ADA is the native cryptocurrency of the Cardano blockchain, created by Charles Hoskinson, a co-founder of Ethereum. Named after mathematician Ada Lovelace, ADA is used for transactions, staking, and smart contracts on the Cardano network. It operates on a proof-of-stake (PoS) consensus called Ouroboros, which is energy-efficient and secure. ADA holders can earn rewards by staking their coins to support network validation. While praised for its scientific foundation and long-term vision, ADA has faced criticism for slow adoption and limited dApp usage. Still, it remains a top cryptocurrency, popular among investors for its potential in decentralized finance (DeFi).