About Cardano (ADA)
Cardano (ADA) is a decentralized proof-of-stake (PoS) blockchain platform that launched in 2017. It was first conceptualized in 2015 by Charles Hoskinson, one of the co-founders of the Ethereum blockchain network.
Cardano was developed to address the blockchain scaling and infrastructural limitations of first-generation decentralized blockchain network Bitcoin, and second-generation networks like Ethereum. In fact, Cardano is seen as a more scalable alternative to Ethereum. Cardano price is updated in real-time on Binance.
To date, the Cardano blockchain network is one of the largest to have successfully implemented a PoS consensus mechanism that’s more power-efficient than alternative proof-of-work (PoW) blockchain networks. Function on the Cardano blockchain is facilitated by the capabilities granted by smart contract protocol, a technology initially popularized by Ethereum.
The native Cardano cryptocurrency token is ADA, which enables users to participate in network operations. The token is named after Ada Lovelace, a 19th century mathematician recognized as the world’s first computer programmer.