Cardano is a cryptocurrency with a ticker of ADA. It was created in September of 2017 by Charles Hoskinson, one of the co-founders of Ethereum. Cardano is a proof-of-stake cryptocurrency, which means that it is not mined like Bitcoin, but rather users stake their ADA in order to secure the network and earn rewards. Cardano is unique in that it is the first cryptocurrency to be built on a scientific philosophy, and its development is overseen by a non-profit organization, the Cardano Foundation.
Cardano’s key features include its scalability, which is due to its unique consensus algorithm, called Ouroboros. Ouroboros enables Cardano to process large amounts of transactions without the need for energy-intensive mining. Cardano is also designed to be more secure than other cryptocurrencies, as it uses a technique called “formal verification” to mathematically prove the correctness of its code.
ADA holders can
