Here are the fundamentals and details of Cardano (ADA) coin ¹ ² ³ ⁴:
- Cardano is a decentralized Proof-of-Stake (PoS) blockchain.
- It was founded in 2015 and launched in 2017.
- It is designed to be more efficient than blockchains that rely on Proof-of-Work (PoW).
- Its cryptocurrency token is named ADA after Augusta Ada King, Countess of Lovelace, the first computer programmer.
- ADA can be purchased on most major cryptocurrency wallets and cryptocurrency exchanges.
- Cardano aims to be a decentralized application (dApp) development platform with a multi-asset ledger and verifiable smart contracts.
- Cardano runs on the proof-of-stake Ouroboros consensus protocol using its native token, Ada.
- Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.