$ADA or Cardano, is a blockchain platform designed to enable secure and scalable applications.
It is named after Ada Lovelace, a 19th-century mathematician recognized as the first computer programmer. Here are some key points about ADA:
1. Development: Cardano is developed by the IOHK (Input Output Hong Kong) company led by Charles Hoskinson who was also a co-founder of Ethereum.
2. Consensus Mechanism: It uses a proof-of-stake (PoS) consensus algorithm called Ouroboros which is designed to be more energy-efficient than traditional proof-of-work (PoW) systems.
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