{"id":1776,"date":"2023-08-17T13:15:01","date_gmt":"2023-08-17T13:15:01","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=1776"},"modified":"2023-08-17T13:15:01","modified_gmt":"2023-08-17T13:15:01","slug":"what-is-cardano-ada","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/","title":{"rendered":"What is Cardano ($ADA)?"},"content":{"rendered":"<p><strong>Cardano (ADA),<\/strong> which we hear frequently in the crypto money world, is a blockchain-based proof-of-stake (PoS) platform. Aiming to enable \u201cchangers, innovators and visionaries\u201d to contribute to positive global change, <b>Cardano aims<\/b>\u00a0to \u201credistribute incalculable structures according to individuals and margins\u201d. In this way, it aims to create a safer, more transparent, and fair society. <strong>Cardano<\/strong> was founded in 2017 and is named after 16th-century Italian scientist Gerolamo <strong>Cardano.<\/strong> The platform&#8217;s native token, <strong>ADA,<\/strong> is named after 19th-century mathematician <strong>Ada<\/strong> Lovelace, who is considered the world&#8217;s first female computer programmer. The <strong>ADA<\/strong> token is designed to enable its holders to participate in the operation of the network. Therefore, those who own the cryptocurrency have the right to vote for any proposed change to the software. The team behind the layered blockchain technology states that they have interesting use cases with their technology enabling the development of decentralized applications and smart contracts with modularity. Let&#8217;s see together!<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/#Who_Are_the_Founders_of_Cardano\" title=\"Who Are the Founders of Cardano?\">Who Are the Founders of Cardano?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/#What_is_Cardano_Foundation\" title=\"What is Cardano Foundation?\">What is Cardano Foundation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/#What_Are_the_Features_That_Distinguish_It_from_Other_Ecosystems\" title=\"What Are the Features That Distinguish It from Other Ecosystems?\">What Are the Features That Distinguish It from Other Ecosystems?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/#Important_Updates\" title=\"Important Updates\">Important Updates<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/#Cardano_ADA_Tokenomy\" title=\"Cardano (ADA) Tokenomy\">Cardano (ADA) Tokenomy<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Who_Are_the_Founders_of_Cardano\"><\/span><strong>Who Are the Founders of Cardano?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Cardano<\/strong> founder Charles Hoskinson is one of the co-founders of <strong>Ethereum.<\/strong> Hoskinson implemented this project in 2015 through his company called <strong>IOHK<\/strong> (Input Output Hong Kong). IOHK is a technology company that works on the development of the Cardano protocol and the advancement of the platform based on academic research. In addition, IOHK is working on various projects to ensure the development and sustainability of the protocol. It also focuses on education and academic work to support the growth of this ecosystem and facilitate community participation. Besides, other organizations play an important role in the ecosystem. Emurgo is one of the founding companies of this protocol and operates as a global blockchain technologies company. The <strong>Cardano Foundation,<\/strong> on the other hand, is a non-profit organization working to promote the platform and increase its adoption.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-1780 size-full aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/07\/What-is-Cardano.jpg\" alt=\"What is Cardano\" width=\"898\" height=\"504\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/07\/What-is-Cardano.jpg 898w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/07\/What-is-Cardano-300x168.jpg 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/07\/What-is-Cardano-768x431.jpg 768w\" sizes=\"auto, (max-width: 898px) 100vw, 898px\" \/><\/p>\n<div class=\"content-inner\" dir=\"auto\">\n<h2 class=\"text-content clearfix with-meta with-outgoing-icon\" dir=\"auto\"><span class=\"ez-toc-section\" id=\"What_is_Cardano_Foundation\"><\/span><strong>What is Cardano Foundation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<div dir=\"auto\">\n<div class=\"content-inner\" dir=\"auto\">\n<div class=\"text-content clearfix with-meta with-outgoing-icon\" dir=\"auto\">\n<p>The Ouroboros consensus protocol, which underpins <strong>Cardano,<\/strong> uses the <strong>Proof-of-Stake<\/strong> (PoS) mechanism. This protocol gives token holders responsibility for validating and validating blocks in the network. Indeed, Ouroboros provides advantages in terms of energy efficiency and security and makes the network faster and more scalable. <strong>Cardano<\/strong> has a layered architecture. It consists of two main layers: the Settlement Layer and the Computation Layer. The Working Layer manages token transfers and calculations, while the Compute Layer deals with the execution and implementation of smart contracts. This layered structure provides greater flexibility, security, and scalability.<\/p>\n<\/div>\n<h2 dir=\"auto\"><span class=\"ez-toc-section\" id=\"What_Are_the_Features_That_Distinguish_It_from_Other_Ecosystems\"><\/span><strong>What Are the Features That Distinguish It from Other Ecosystems?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<div dir=\"auto\"><strong>Cardano<\/strong> is one of the largest blockchains to successfully use the proof-of-stake (PoS) consensus mechanism. This mechanism consumes less energy than Bitcoin&#8217;s proof-of-work (PoW) algorithm. Although <strong>Ethereum<\/strong> will transition from a to PoS, this transition will be done gradually. It also serves as a platform for smart contracts and dApps like Ethereum. It also offers developers the ability to write and deploy smart contracts using a programming language called Plutus. This opens up a wide field for financial applications, DeFi projects, and many more innovative solutions.<\/div>\n<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Other unique features of <strong>Cardano<\/strong> include:<\/div>\n<ul>\n<li dir=\"auto\"><strong>Cardano&#8217;s<\/strong> technology has continually evolved with the contributions and review of the academic world.<\/li>\n<li dir=\"auto\">With the Shelley upgrade, <strong>Cardano<\/strong> became even more decentralized. It also enables the development of smart contracts and decentralized applications.<\/li>\n<li dir=\"auto\">With the Alonzo upgrade, <strong>Cardano<\/strong> supports NFTs, smart contracts, and decentralized exchanges.<\/li>\n<li dir=\"auto\"><strong>Cardano&#8217;s<\/strong> ambition to become a &#8220;Smart Contract Platform&#8221; allows it to challenge Ethereum&#8217;s competition.<\/li>\n<\/ul>\n<div dir=\"auto\">\n<h3 dir=\"auto\"><span class=\"ez-toc-section\" id=\"Important_Updates\"><\/span><strong>Important Updates<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<div dir=\"auto\">\n<div class=\"content-inner\" dir=\"auto\">\n<div class=\"text-content clearfix with-meta with-outgoing-icon\" dir=\"auto\">\n<p>The Vasil hard fork update is an upgrade that increases the sophistication and usability of <strong>Cardano.<\/strong> This update aims to expand the capabilities of the platform by introducing more features and enhancements to the ecosystem. The security of the ecosystem was ensured through the Ouroboros PoS protocol, which aims to provide environmentally sustainable and verifiable security. Ultimately, this protocol combines unique technology, mathematically validated mechanisms, and incentive mechanisms that reward network participants. The Alonzo update, released on September 12, marked a major milestone for this project. This ensures that the platform can support various crypto applications such as <strong>NFTs<\/strong> and smart contracts. This update increases <strong>Cardano&#8217;s<\/strong> programmability, strengthening its ability to compete with Ethereum and support decentralized finance and other applications beyond its native token.<\/p>\n<\/div>\n<h2 dir=\"auto\"><span class=\"ez-toc-section\" id=\"Cardano_ADA_Tokenomy\"><\/span><strong>Cardano (ADA) Tokenomy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<div dir=\"auto\"><strong>Cardano&#8217;s<\/strong> cryptocurrency, <strong>ADA,<\/strong> is the platform&#8217;s token. Here is detailed information about the <strong>ADA<\/strong> tokenomics:<\/div>\n<ul>\n<li>Maximum Supply: Its maximum supply is <strong>45 billion ADA.<\/strong><\/li>\n<li>Circulating Supply: At the time of writing, there are approximately <strong>31 billion ADA<\/strong> in circulation.<\/li>\n<li>IPO: Five IPO rounds of <strong>Cardano<\/strong> tokens took place between September 2015 and January 2017.<\/li>\n<li>Distribution: Approximately <strong>16%<\/strong> of the total supply is reserved for the project founders, and the remaining <strong>84%<\/strong> is divided among the investors.<\/li>\n<li>Share of Founders: Approximately <strong>16%<\/strong> of the total supply has been allocated to the founders of the project. <strong>2.5 billion ADA<\/strong> was allocated to IOHK, <strong>2.1 billion ADA<\/strong> to Emurgo, and <strong>648 million ADA<\/strong> to <strong>Cardano<\/strong> Foundation.<\/li>\n<li>Innovation Fund: There is an innovation fund to support the development of <strong>Cardano<\/strong> and its projects. This fund promotes the growth of the ecosystem and contributes to the development of new projects.<\/li>\n<\/ul>\n<p>The <strong>$ADA<\/strong> snapshots are as follows.<\/p>\n<p>As a result, it stands out as one of the future blockchain protocols. The Ouroboros consensus protocol and layered architecture are key features that set it apart from other projects. Its goals and vision have the potential to transform the financial world. It is also important to carefully monitor future developments and their role in the industry. Indeed, it is a promising project for the future of blockchain technology. We hope to witness the success of<\/p>\n<p>You can write us your comments on the subject. Also, if you would like to continue with such informative content, you can follow us on our <strong><a href=\"https:\/\/t.me\/Coinmuhendisi\">Telegram,<\/a> <em><a href=\"https:\/\/youtube.com\/@CoinMuhendisi\">Youtube<\/a>,<\/em><\/strong> and <a href=\"https:\/\/twitter.com\/coinmuhendisim\"><strong>Twitter<\/strong><\/a> channels.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA), which we hear frequently in the crypto money world, is a blockchain-based proof-of-stake (PoS) platform. Aiming to enable \u201cchangers, innovators and visionaries\u201d to contribute to positive global change, Cardano aims\u00a0to \u201credistribute incalculable structures according to individuals and margins\u201d. In this way, it aims to create a safer, more transparent, and fair society. Cardano<\/p>\n","protected":false},"author":1,"featured_media":2769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,5],"tags":[514,343,64,236,344,22,348,61,192,40,513,393,71],"class_list":["post-1776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-projects","category-project-review","tag-ada","tag-advantages-of-atomic-swap","tag-airdrop","tag-altcoin","tag-atomic-swap-handleman","tag-binance","tag-binance-bridge","tag-bitcoin","tag-blockchain","tag-bnb","tag-cardano","tag-crypto","tag-uniswap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Cardano ($ADA)? - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) is a platform for cryptocurrency transfers and its native cryptocurrency is ADA.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/what-is-cardano-ada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Cardano ($ADA)? 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