Cardano (ADA)

Rank #8
$0.3298 2.21%
Market Cap $11,384,146,216
Trading Volume $521,777,034
Volume / Market Cap 0.0458
Total Supply 35,303,937,972 ADA
Max Supply 45,000,000,000 ADA
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Cardano is currently trading at $0.3298, after a price change of 2.21% in the last 24 hours.

Ranked as cryptocurrency #8 by capitalization today, ADA market cap is valued at $11,384,146,216. ADA trading volume reached $521,777,034 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on ADA coin price prediction page.

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What is Cardano?

Cardano is a decentralized and open-source blockchain network that facilitates deals between peers with the help of its native coin known as ADA. It was launched in 2015 by Charles Hoskinson, who is also the co-founder of Ethereum. Just like Ethereum, this coin also allows for the building of decentralized apps and smart contracts.

Smart contracts and financial deals are authenticated by individuals belonging to the community. Cardano uses a proof of stake mechanism known as Ouroboros where some nodes are selected by the network for the purpose of mining. Then the chains are split up into blocks known as epochs. Each epoch is further split up into time slots. Miners adding blocks to the chain receive a certain number of coins as a reward depending on the staked amounts.

This technique requires a few individuals holding the coins to remain connected at all times. They can create stake pools and choose representatives to execute the protocol. This makes sure that the blocks are created, even if some members are not online. Unlike proof of work mechanism, this is not overly reliant on computation ability.