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Learn more about Cardano
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Cardano (ADA) price has increased today.
Cardano (ADA) is priced at $0.469 today, with a 24-hour trading volume of $233,061,485.60. It is reflecting a 1.07% increase over the last 24 hours and a 6.06% decline over the past 7 days. With a circulating supply of 35.64 Billion ADA, Cardano’s current market cap is at $16,720,149,723.82.
Introducing Cardano (ADA)
Cardano is a blockchain platform that aims to empower individuals to drive positive global change. Built on a proof-of-stake consensus mechanism, the goal is to redistribute power to individuals and create a fairer, more secure, and transparent society.
The project, founded in 2017, takes inspiration from historical figures like Gerolamo Cardano and Ada Lovelace, embracing their innovative spirit.
The native ADA token allows users to participate in the network’s operations actively and have a say in proposed software changes through voting rights.
Cardano’s layered blockchain technology has already demonstrated compelling use cases, enabling the development of decentralized applications (dApps) and smart contracts.
Industries like agriculture, education, and retail have successfully applied it to track produce, ensure tamper-proof credentials, and combat counterfeiting.
The Visionary Founders
Cardano was founded by Charles Hoskinson, who also co-founded Ethereum. Interestingly, Hoskinson’s passion for cryptocurrencies dates back to 2011, when he began mining and trading.
Then, in 2013, he created a Bitcoin course that reached a massive audience of 80,000 students, marking his first professional involvement in the industry.
Currently, as the CEO of IOHK, the company behind Cardano’s blockchain, Hoskinson continues to drive innovation in the space.
Furthermore, Hoskinson is a mathematician with a keen interest in blockchain technology and his entrepreneurial pursuits.
To illustrate his dedication, in 2020, his company donated $500,000 worth of ADA to the University of Wyoming’s Blockchain Research and Development Lab, showcasing his commitment to furthering the industry.
Cardano’s Unique Approach
Firstly, Cardano’s successful implementation of the proof-of-stake consensus mechanism stands out. In contrast to Bitcoin, it consumes significantly less energy than Bitcoin’s proof-of-work algorithm.
Moreover, while Ethereum is gradually transitioning to proof-of-stake, Cardano has already embraced this more environmentally sustainable and energy-efficient approach.
You can explore our in-depth comparison guide to understand how it compares to Ethereum.
Beyond its energy efficiency, Cardano ensures the integrity and stability of its technology through a rigorous process of peer-reviewed research. Importantly, this academic rigor helps identify potential pitfalls and ensures a durable and stable blockchain.
Then, in a major development in 2020, Cardano underwent the Shelley upgrade, significantly enhancing its decentralization compared to other major blockchains. Additionally, hundreds of assets can now operate on the Cardano network.
Lastly, the recent launch of the Alonzo hard fork, which introduced smart contract functionality, further elevates Cardano’s capabilities and has propelled its price surge.
The Vasil Hard Fork
Named after esteemed Bulgarian mathematician Vasil Dabov, the Vasil hard fork is highly anticipated within the Cardano community.
This third development epoch of Cardano introduces several upgrades to the Plutus smart contract programming language and enhances the network’s capacity.
Initially scheduled for June 2022, the Vasil hard fork has been subject to postponements. Once implemented, it will introduce five critical mechanisms, including reference inputs, inline datums, reference scripts, collateral outputs, and diffusing pipelining.
These mechanisms improve scalability, transaction throughput, and overall network performance.
Coin Circulation
Cardano has a maximum supply of 45 billion ADA tokens, with approximately 35 billion ADA currently circulating. The project’s founders received 16% of the total supply, while the remaining 84% was distributed among investors.
Notably, IOHK, Emurgo, and the Cardano Foundation received significant portions of ADA tokens to support the platform’s development and adoption.
The ADA token started with five public sales from September 2015 to January 2017 at a pre-launch price of $0.0024 each.
Since then, the price has increased significantly, providing substantial returns for early investors.
Securing the Cardano Network
Cardano’s security is ensured through its environmentally sustainable and verifiably secure proof-of-stake protocol, Ouroboros.
This protocol offers enhanced security guarantees compared to proof-of-work mechanisms while consuming significantly less energy.
It is four times more energy efficient than Bitcoin. It combines unique technology, mathematically verified mechanisms, and behavioral psychology to achieve sustainable and ethical growth.
Active participants in the Cardano network are rewarded through an incentive mechanism, encouraging their continued involvement and contribution to the ecosystem.
Exploring Cardano’s Alonzo Upgrade
Cardano’s highly anticipated Alonzo upgrade was released on September 12. This upgrade marked a significant milestone for the blockchain. This supports various crypto applications, including non-fungible tokens (NFTs) and smart contracts.
Alonzo introduces programmability to the Cardano network, analogous to when JavaScript revolutionized web browsers, transforming static web pages into dynamic platforms like Facebook and YouTube.
The upgrade is named after Alonzo Church, a pioneering computer science mathematician.
With smart contract capabilities and support for decentralized exchanges, Cardano joins the ranks of Ethereum as a versatile blockchain platform supporting various applications.
The number of Cardano wallets has surged, and the ecosystem has seen significant developer activity following the Alonzo Upgrade.
How to Buy Cardano (ADA)
As one of the largest cryptocurrencies by market capitalization, Cardano (ADA) is available on major exchanges such as:
These exchanges provide trading pairs for ADA with various fiat currencies and cryptocurrencies.
Most Used
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Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.
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Biggest exchange in the world.
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Industry's lowest trading fees.
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Advance trading options like leverage trading.
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600+ crypto options, 150+ for the US.
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Lucrative on-site staking options.
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Hiccups in account verification.
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Less regulated than some competitors.
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The corporate structure is not transparently.
Best in class
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eToro is a popular online trading platform for crypto assets, stocks, and ETFs, featuring low fees and a user-friendly interface. With a free eToro wallet and social features like messaging boards, users can copy experienced traders and access numerous assets. Take a look at what makes this platform perfect for starting your trading journey.
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Provides an attractive, communal atmosphere.
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Offers zero commission on ETFs.
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Extensive selection of educational resources.
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Mobile app with trading features.
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Smooth account opening and bank transfer.
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Limited number of cryptocurrencies.
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Limited customer support.
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No crypto-to-crypto trading pairs.
To see the live Cardano price in your preferred fiat currency, use our Coinweb converter on the Cardano currency page or the exchange rate converter page.
Popular Cardano price pairs include:
- ADA/USD
- ADA/JPY
- ADA/KRW
- ADA/CNY
- ADA/GBP
- ADA/AUD
Cardano is a blockchain platform that wants to give power to people and make a fair, secure, and open society. It uses its own cryptocurrency, ADA, to let users take part and vote on changes.
Charles Hoskinson founded Cardano. It’s special because it uses a proof-of-stake method that uses much less energy than other cryptocurrencies and it was built using academic research to make sure it's strong and stable.
The Alonzo Upgrade, launched on September 12, added smart contract features to Cardano. This helps it support various crypto applications like non-fungible tokens (NFTs) and decentralized exchanges.
Cardano uses a protocol called Ouroboros, a proof-of-stake method, which is secure and uses way less energy than the proof-of-work method used by Bitcoin. Active users in the network are rewarded to encourage them to keep participating.
You can buy Cardano on major cryptocurrency exchanges like Binance, eToro, and Coinbase. They allow you to trade ADA with various fiat currencies and other cryptocurrencies.
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