Cardano ADA
Current Cardano price data
Cardano's current price today is $0.355283 USD with 24-hour trading volume of $312,078,792 USD. Current CoinMarketCap ranks 8th with a real market capitalization of $12,263,862,332 USD and has 34,518,582,983 ADA coins in circulation. The exchanges for trading Cardano stock are: Binance, Deepcoin, BingX, Bybit and OKX.
What is Cardano (ADA)?
Cardano is a blockchain platform, founded in 2017 and named after the Italian polymath Gerolamo Cardano, which states that its goal is to enable "change makers, innovators and visionaries'' to make positive global change. ADA's proprietary token is designed to ensure that owners can participate in the network. and propose software changes. Cardano's 'Alonzo' hard fork was officially launched on September 12, 2021, bringing smart contract functionality to the blockchain.
Cardano was founded by Charles Hoskinson, co-founder of Ethereum and CEO of IOHK. In addition, Hoskinson is also a mathematician. In 2020, his technology company donated $500,000 to the University of Wyoming's Blockchain Research and Development Lab for ADA.
How does it work?
Cardano is one of the largest blockchains to successfully use the less energy-intensive proof-of-stake consensus mechanism. The project prides itself on the fact that all technology developed goes through a peer-reviewed research process. According to the Cardano team, this academic rigor helps the blockchain to be durable and stable. The launch of the Alonzo hardfork in September 2021 helped it enter the Goguen phase. Users can develop and deploy smart contracts on Cardano, allowing them to create their own decentralized applications (dApps) on the blockchain.
On September 12, Cardano released its long-awaited Alonzo update. With the update, the blockchain network can now support a wide range of crypto applications, including interchangeable tokens (NFT) and smart contracts. In addition to supporting NFT and smart contracts, Cardano can now be used for decentralized exchanges. All in all, Alonzo puts Cardano in the same class as Ethereum, the world's leading blockchain.
Cardano is secured using a "sustainable, verifiable secure" PoS protocol known as Ouroboros. It is described as a combination of unique technology and mathematically proven mechanisms with the addition of behavioral psychology and economic philosophy.
Where to buy and how to store ADA?
As one of the largest cryptocurrencies in the world in terms of market capitalization, it is traded on many exchanges: Cardano, including Binance, Bittrex, eToro and HitBTC. Check the real-time price of Cardano in the fiat currency of your choice by using the CoinMarketCap conversion feature directly on the Cardano currency page.
There are different types of cryptocurrency wallets for storage:
- Daedalus Wallet desktop wallet;
- Yoroi Wallet browser and mobile wallets and Adalite;
- Ledger Nano S and Trezor One hardware wallets.
You can choose from several options for convenience. For example, hardware wallet is for long-term storage of cryptocurrency, and browser wallet is for regular expenses.
