Cardano ADA Price 0.58512827

What is Cardano Cryptocurrency (ADA)? And what is its price?

Cardano is a Proof-of-Interest blockchain platform that enables developers, innovators and analysts to drive global ecosystem change.

The open source project also aims to “redistribute power from unexplained structures to the periphery to individuals,” helping to create a safer, more transparent and just society.

Cardano was founded back in 2017 and the ADA token is designed to ensure that holders can participate in the network. For this reason, cryptocurrency holders have the right to vote on any proposed software changes.

The team behind the multi-tier blockchain says there have already been several compelling use cases for its technology, which aims to enable decentralized applications and smart contracts to be developed in a modular fashion.

Cardano is used by agricultural companies to track fresh produce from the field to the consumer, while other products built on the platform enable education data to be stored in a tamper-proof way and retailers can fight counterfeit goods.

Who are the founders of Cardano?

Cardano was founded by Charles Hoskinson, who was also one of the co-founders of the Ethereum network. He is the CEO of IOHK, the company that built the Cardano blockchain.

Hoskinson is not only a technology entrepreneur, but also a mathematician. In 2020, his tech company donated $ 500,000 to ADA to the University of Wyoming's Blockchain Research and Development Lab.

What makes Cardano unique?

The Cardano cryptocurrency is one of the largest blockchains with a Proof-of-Stake consensus mechanism. Unlike the Proof-of-Work algorithm, it requires less energy. Although the much larger Ethereum has upgraded to PoS, this transition is happening gradually.

The project prides itself on the fact that all developed technologies go through a peer-reviewed research process, which means that bold ideas can be challenged before they are validated. According to the Cardano team, such academic rigor helps the blockchain to be durable and stable, which increases the likelihood that potential pitfalls can be foreseen in advance.

In 2020, Cardano carried out a Shelley update that aimed to make its blockchain "50 to 100 times more decentralized" than other major blockchains. At the time, Hoskinson predicted that this would open the way for hundreds of assets to operate on his network.

How many Cardano coins are in circulation? What is their price and course?

At the moment, the maximum supply price of Cardano is 36,785,005,677 coins ADA, 0.00000000 ADA is in circulation.

Today the price of the Cardano coin is 0.58512827 USD, with a daily trading volume - 476,965,125 USD, market capitalization - 20,834,303,051 USD.

 another 2.1 billion ADA were donated to Emurgo, a global blockchain technology company that served as the founder of the Cardano protocol. Last but not least, 648 million ADA has been donated to the non-profit Cardano Foundation, which aims to promote the platform and increase its adoption rate.

In general, about 16% of the total ADA proposal went to the founders of the project, and the remaining 84% was distributed among investors.

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How is the Cardano network secured?

Cardano is secured using an environmentally sustainable, proven secure PoS protocol known as Ouroboros.

The project says that Ouroboros improves security guarantees while consuming significantly less energy, claiming that it is four times more energy efficient than Bitcoin.

It is described as a mixture of unique technology and mathematically proven mechanisms, with the addition of behavioral psychology and economic philosophy. Overall, Ouroboros' goal is to achieve sustainable and ethical growth.

An incentive mechanism means that network members are rewarded for their participation.