Cardano (ADA)

Issue Date and Issue Date Price

$0.0026 (02/10/2017)

Price now $0.58 (02/24/2024)

All time high-$3.09 (09/02/2021)

All time low -$0.017 (10/02/2017)

Circulation Supply-35.47 B Ada

Total Supply -36.64 B Ada

Max Supply-45 B Ada

Rank no .8 (The rating may change in the future)

Introduction

Cardano (ADA) is an open-source Proof-of-Stake (PoS) blockchain network, based on a wide array of design components that include a dApp development platform, multi-asset supported ledger and verifiable smart contracts.

Cardano’s inception and continued development are based on an extensive body of academic research, chiefly among them Ouroboros: A Provably Secure Proof of Stake Blockchain Protocol; this fact is often used to distinguish the project from other competing blockchain protocols.

The transaction ledger utilizes a modified version of UTXO to accommodate support for smart contracts, which is currently under development.

specialty

Cardano is known for several unique features:

1.Scientific Approach**: Cardano was developed using a scientific approach, with a strong emphasis on peer-reviewed research and academic rigor. This approach ensures that the platform's design and protocols are based on solid theoretical foundations.

2.Layered Architecture**: Cardano features a layered architecture consisting of two main layers - the Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL). This separation allows for more flexibility, scalability, and security in the platform's design.

3.Ouroboros Consensus Protocol Cardano uses the Ouroboros consensus protocol, which is based on Proof-of-Stake (PoS) principles. It is designed to be scalable, secure, and energy-efficient, offering a more sustainable alternative to traditional Proof-of-Work (PoW) systems.

4.Formal Verification Cardano aims to employ formal methods to verify the correctness of its smart contracts and protocol implementations. This approach enhances security and reduces the risk of vulnerabilities and bugs in the system.

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