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by Hideo Nakamura
Rank #11
Cardano (ADA)

Cardano ADA

$ 0.460138
0.00000730 BTC
Marketcap
$ 16,242,710,285
Volume (24h)
$ 353,501,023
Circulating Supply
35,320,160,902 ADA
Total Supply
45,000,000,000 ADA
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All time high price: $ 3.09 85.11%
All time high date: September 2, 2021
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* Currency in USD
Historical Price for Cardano
DateOpenCloseHighLowVolume
Cardano Markets
#SourcePairVolumePriceChangeUpdated
ADA
USD

Cardano (ADA) price has decreased -3.17% today!

Cardano (ADA) is a cryptocurrency that operates on a blockchain. Currently, it is trading at $ 0.460138 and a market capitalization of $ 16,242,710,285. The price of Cardano has decreased -3.17% in the last 24 hours. Currently, Cardano ranks #11 among all cryptocurrencies by market capitalization and has a daily trading volume of $ 353,501,023.

About Cardano (ADA)

Cardano is a proof-of-stake blockchain network that supports decentralized applications (dApps) with a multi-asset ledger and smart contracts. Unlike many other blockchains, Cardano does not build on top of technical foundations from Bitcoin or other blockchains. Instead Cardano works with leading academics on research to develop new and innovative solutions, which are subjected to academic peer review and presented at major international conferences. The team then builds a prototype to understand real-world technical and functional implementation issues, enabling the creation of technical specifications before formal development begins.

On 22 September 2022, Cardano implemented the Vasil hard fork. The Vasil hard fork is intended to improve smart contract capabilities, increase the chain’s throughput and reduce costs, while also enhancing transaction validation.

What Makes Cardano Unique?

Cardano uses a unique Proof-of-Stake mechanism known as Ouroboros, where transactions are verified by splitting the chains into epochs, which are in turn segmented into time slots. For every time slot, a new slot leader is elected and is responsible for adding a block to the chain for their assigned slot. As each epoch can be partitioned infinitely, the Cardano blockchain is theoretically infinitely scalable, making it possible to run multiple transactions simultaneously.

History of Cardano

Cardano was founded in 2015 by Charles Hoskinson, one of the founding members of Ethereum. The development of Cardano was funded through an initial coin offering in 2017, which raised over $60 million. The first version of Cardano’s blockchain was launched in September 2017, which focused on establishing the Cardano Settlement Layer and the Ouroboros consensus algorithm. In the next phase, Cardano focused on optimizing decentralization by shifting in favor of community-run nodes. Next came smart contracts and the creation of decentralized applications, and Cardano is now in the scaling phase, which is focused on enhancing its performance and stability. 

What’s Next for Cardano?

The next stage for Cardano will be the Voltaire era of Cardano, after which the Cardano network will become a self-sustaining system with its own voting and treasury system, where network participants can use their stake and voting rights to influence the development of the Cardano network. Network participants will also be able to present improvement proposals to be voted on, and a fraction of transaction fees will be set aside to fund development activities after votes have taken place.

What Can ADA Be Used For?

ADA is the native coin of Cardano, and it is named after Ada Lovelace, who is recognized as the first computer programmer. At the moment, ADA holders can delegate their coins to a stake pool to earn staking rewards for securing the network. Also, ADA tokens are needed to pay for transaction fees on the Cardano platform. Eventually, ADA will also confer voting rights upon its holders, who can then vote on future changes to the network.

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