Cardano
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- r/cardano
- XRP’s 'very positive sign’ — Whales soar to new highs as price jumps 10%Cointelegraph.com News – 2 hours agoSantiment data shows the number of XRP whales has just hit an all-time high as the price of XRP continues to rally. The number of…
- Bitcoin Christmas rally to $200K or $300K possible based on ‘power law’ modelCointelegraph.com News – 4 hours agoBitcoin’s parabolic rally could last until Christmas with a cycle top near $300,000, according to one analyst. Key takeaways:Bitcoin is ahead of its long-term “power…
- Bitzlato co-founder requests US pardon after guilty plea — ReportCointelegraph.com News – 6 hours agoUS President Donald Trump has issued five pardons for figures in the crypto and blockchain industries, and may have received requests from Changpeng Zhao and…
- Here’s what happened in crypto todayCointelegraph.com News – 6 hours agoNeed to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3…
- France opens criminal investigation into X for alleged algorithmic manipulationCointelegraph.com News – 7 hours agoFrench J3 cybercrime unit launches probe into X’s algorithm as EU scrutiny intensifies. The French Public Prosecutor’s Office has opened an investigation into X over…
What is Cardano?
ADA is a crypto coin running on Cardano Settlement Layer (CSL) blockchain, the first and most secure blockchain based on Proof of stake mechanism validating the transactions. Cardano team calls their proof of stake mechanism Ouroboros. Unlike Proof of Work, where miners invest energy intensive computing power to mine each block, proof of stake chooses a random miner based on the size of the stake (value). In order to generate or mint a new block, a slot leader is chosen with a probability proportional to the amount of coins this node is carrying. So one of ADA’s advantages over Bitcoin, Ethereum and other similar cryptocurrencies is its energy-efficient proof of stake transaction validation system. ADA is flexible like Ethereum due to a second layer Cardano Computational Layer (CCL) which supports decentralized applications and smart contracts.
ADA was initially created by Input Output Hong Kong (IOHK), a blockchain development firm. The project was led by Charles Hoskinson who was a former co-founder of Ethereum, Etereum classic and Bitshares. Presently the ADA team consist of three organizations i.e. Cardano foundation, IOHK, and Emurgo.
The major use of Cardano is the transfer of value. Future development of applications on CCL layer can provide the easy and economical payment solution to service providers such as Uber, Upwork, and alike.