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Cardano ADA |
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£0.7185039 |
-2.98% (24h) |
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Marketcap |
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£25,270,747,178 |
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Volume 24h |
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£720,423,044 |
Description
Cardano (ADA) is a blockchain platform that aims to create a more secure and scalable infrastructure for the development of decentralized applications (dApps) and smart contracts. Launched in 2017 by Charles Hoskinson, one of the co-founders of Ethereum, Cardano is built on a research-driven approach and uses a unique proof-of-stake consensus mechanism called Ouroboros. ADA, the platform's native cryptocurrency, is used for transactions, governance, and staking on the network. Cardano's development is divided into several phases, with a focus on security, scalability, and interoperability.