Cardano (ADA)
Cardano is a public blockchain ecosystem and smart contract development platform that is similar to Ethereum and is distinguished as the first proof-of-stake blockchain built on peer-reviewed research. Cardano operates on the Ouroboros protocol, which is acclaimed for its enhanced security, scalability, and energy efficiency compared to older proof-of-work systems like Bitcoin.
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Cardano (ADA) Price
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About Cardano (ADA)
What is Cardano (ADA)?
Cardano is a public blockchain and smart contract platform similar to Ethereum, founded in 2015. It’s known as the first blockchain platform based on peer-reviewed research, running on the Ouroboros proof-of-stake protocol. This protocol aims to enhance the foundations of other consensus mechanisms.
Cardano is a Proof of Stake (PoS) blockchain project designed as a "third-generation" blockchain, addressing scalability challenges faced by earlier blockchains like Ethereum, including issues with high gas fees.
ADA, Cardano’s versatile native token, powers all network transactions and rewards network validators, also known as stakers, who help secure the blockchain and verify new transactions.
The Cardano blockchain offers a secure way to store and transfer ADA, as well as native tokens created on its network. It also supports the development of decentralised applications (dApps), providing a robust foundation for a wide range of blockchain solutions.
The History of Cardano
Cardano, launched in September 2017 by Ethereum co-founder Charles Hoskinson, aims to be a "third-generation" blockchain, building upon the foundational technology of Bitcoin (first generation) and Ethereum (second generation). Designed as a scalable and energy-efficient smart contract platform, Cardano’s Ouroboros consensus mechanism was developed based on peer-reviewed research by a team of computer scientists and cryptographers from institutions like the University of Edinburgh and Tokyo University. This consensus model enables Cardano to validate transactions in a secure, scalable, and energy-efficient manner.
Hoskinson co-founded Cardano with Jeremy Wood after leaving Ethereum in 2014. Together, they founded Input Output Hong Kong (IOHK), later rebranded as Input Output Global (IOG), to drive Cardano’s research and development. Cardano’s development team includes global researchers, engineers, and developers who use a rigorous, peer-reviewed scientific approach.
The Cardano Foundation, a non-profit based in Switzerland, oversees Cardano’s development and adoption. It supports education, resources, and collaboration with other organisations to advance blockchain technology. Additionally, Emurgo, Cardano’s for-profit investment arm, aids developers and promotes business adoption of Cardano’s blockchain services.
Since its launch, Cardano has grown into one of the most popular platforms in the cryptocurrency space.
How Does Cardano (ADA) Work?
Cardano (ADA) is a blockchain platform that leverages Ouroboros, a proof-of-stake (PoS) consensus protocol designed for fast, secure transactions.
The platform's native coin, ADA, has a capped supply of 45 billion coins. Cardano’s tokenomics feature a treasury system and a decentralised governance model to fund future development.
On Cardano, validators process transactions by locking a portion of ADA in staking contracts, securing the network in exchange for rewards. ADA holders can store their coins in dedicated crypto wallets—either hardware or software-based—and stake them to earn rewards and participate in network governance.
Upcoming governance features will enable ADA holders to vote on protocol updates, granting them influence over Cardano’s evolution. These governance capabilities are expected to launch during Cardano’s Voltaire development phase.
Cardano (ADA) Roadmap Development Phases
Cardano’s development is grounded in a rigorous scientific approach, emphasising extensive academic research and peer-reviewed progress. Its roadmap includes five core phases:
- Byron (Launched in 2017) – Launch of the network with basic functionality, enabling ADA transfers.
- Shelley (Mainnet launched in 2020) – Introduction of decentralisation through community-operated nodes.
- Goguen (Launched in 2021) – Activation of smart contract capabilities.
- Basho (Currently live - launched 2022) – Implementation of sidechains for improved scalability and interoperability.
- Voltaire (TBD) – Introduction of governance and self-funding, achieving full decentralisation.
Upon completion of these phases, Cardano will be fully decentralised, governed by ADA holders, and sustained by a portion of its transaction fees. Each phase builds on the last to create a comprehensive and self-governing network.
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