Cardano (ADA) Price

Cardano’s Blockchain

Cardano blockchain employs a unique consensus mechanism, called Ouroboros. Inspired by the ancient Greek mythological concept of the self-eating serpent, Ouroboros combines Proof of Stake (PoS) and rigorous cryptographic protocols to ensure security, scalability, and sustainability.

Unlike other consensus algorithms, Ouroboros divides time into epochs, composed of slots, which are further divided into epochs. By randomly selecting leaders and allowing them to create blocks, Ouroboros achieves a fair and decentralized system. Its use of formal verification guarantees mathematical rigor and protects against attacks, making Cardano a reliable and trustworthy platform for building decentralized applications.

Cardano is a two-layered blockchain platform, similar to Ethereum, written in the Haskell programming language. It consists of two separate layers that handle different aspects of the blockchain's functionality.

The first layer is called the Cardano Settlement Layer (CSL), which is responsible for managing the transfer and settlement of ADA, the cryptocurrency native to the Cardano network. It ensures secure transactions within the blockchain.

The second layer is the Cardano Computational Layer (CCL), which facilitates the execution of smart contracts and the development of decentralized applications (dApps). This layer allows developers to create and deploy smart contracts on top of the blockchain, expanding the platform's capabilities.

Cardano’s Proof of Stake Approach

Unlike other popular blockchain networks that rely on resource-intensive Proof of Work (PoW) consensus algorithms (Bitcoin, Bitcoin Cash, Ethereum), Cardano uses a more eco-friendly approach called Proof of Stake (PoS). Instead of miners competing to solve complex mathematical puzzles, validators are chosen to create new blocks based on the amount of cryptocurrency they hold and "stake" in the network.

This transaction verification model significantly reduces the energy consumption of the Cardano blockchain, making it a more energy efficient alternative to classic PoW-based networks like Bitcoin and Ethereum (the latter is currently shifting to the PoS model, too).

The Uniqueness of Cardano Network

Cardano is often referred to as a third-generation blockchain network because it aims to overcome the limitations of previous generations and introduce new features that enhance scalability, sustainability, and interoperability.

First-generation blockchains, like Bitcoin, focused primarily on digital currency transactions. They introduced the concept of decentralized, trustless transactions, but had limited functionality beyond that.

Second-generation blockchains, like Ethereum, expanded the capabilities by introducing smart contracts, which enabled the execution of programmable logic and decentralized applications.

However, Cardano takes a step further as a third-generation blockchain by incorporating a unique combination of scientific research, peer-reviewed academic papers, and a layered architecture. This approach aims to address the drawbacks of scalability, security, and sustainability.

Cardano's innovative two-layered architecture enables scalability by separating transaction processing from the execution of smart contracts. This division ensures that the blockchain network can handle a larger number of transactions without compromising efficiency.

Cardano utilizes a proof-of-stake consensus algorithm – Ouroboros, which is designed with rigorous security in mind. This algorithm allows the network to achieve a higher level of security while consuming less energy compared to traditional proof-of-work systems.

Interoperability is another key aspect of Cardano's third-generation approach. The network aims to enable seamless communication and data exchange between different blockchains, making it easier for various blockchain platforms to work together.

Cardano Roadmap

Cardano's roadmap outlines five key stages of development:

1. Byron. The initial phase focused on establishing Cardano's foundation, including the launch of the network, wallet, and basic functionalities.

2. Shelley. This stage introduced decentralization by enabling the participation of individual users, allowing them to operate stake pools and earn crypto rewards.

3. Goguen. Building on Shelley, Goguen emphasized smart contract functionality, enabling developers to build decentralized apps on the Cardano platform.

4. Basho. The Basho phase aims to enhance Cardano's scalability, interoperability, and performance by implementing improvements like sidechains and multi-asset support.

5. Voltaire. The final stage, Voltaire, focuses on governance and sustainability. It aims to allow the community to actively participate in decision-making processes and introduce a treasury system for funding future developments.

The Alonzo upgrade is a significant milestone within the Goguen era. It aims to introduce smart contract functionality to the Cardano blockchain, enabling developers to build decentralized applications and create custom tokens on the platform. Alonzo will enhance the functionality and versatility of Cardano, opening up new possibilities for developers and users.

Native Cryptocurrency of Cardano

ADA is the native token of Cardano, a blockchain platform that aims to provide a secure and scalable infrastructure for the development of decentralized applications and smart contracts.

The ADA cryptocurrency serves multiple purposes within the Cardano ecosystem. It allows users to participate in the platform's consensus protocol, enabling them to secure and validate transactions on the network.

ADA coins can be used for voting on important protocol upgrades, ensuring that the community has a say in the platform's development and governance.

The ADA Crypto also plays a vital role in facilitating peer-to-peer transactions, acting as a medium of exchange, much like traditional currencies.

Cardano's dedication to research-backed innovation ensures that ADA remains a scalable, interoperable, and transparent cryptocurrency.

Each ADA holder possesses a stake in the Cardano network. By delegating ADA from a wallet to a stake pool, a user can earn rewards and contribute to the network's efficient operation. Alternatively, individuals can establish and manage their own staking pool to enhance its chances of receiving rewards. As the Cardano project is progressing and expanding, ADA tokens will gain usability across a range of applications and services on the Cardano platform.

How Cardano (ADA) Started

Cardano was founded by Charles Hoskinson in 2015. Hoskinson, a prominent figure in the blockchain industry, co-founded IOHK (Input Output Hong Kong), a blockchain technology company that focuses on developing innovative blockchain solutions.

With a vision to create a blockchain protocol that could address scalability, interoperability, and sustainability, Cardano was born. Powered by its native tokens ADA, Cardano aims to provide a secure and sustainable platform for the development of decentralized applications and smart contracts.

Hoskinson's leadership and the continuous efforts of the IOHK team have propelled Cardano to become one of the leading blockchain projects, offering advanced features and embracing a scientific and evidence-based approach to development.

Cardano is a blockchain platform that takes its naming inspiration from historical figures. The blockchain itself is named after Girolamo Cardano, an Italian mathematician from the 1500s.

ADA, the native cryptocurrency of Cardano, took its name from Ada Lovelace, the daughter of the renowned poet Lord Byron. She was an eminent mathematician of the 19th century and is widely acknowledged as the world's first computer programmer.

Key advancements within Cardano, like Byron, are also named after historical figures, such as Lord Byron (a famous poet known for his rebellious spirit) and Voltaire (an influential writer and philosopher).

Cardano Foundation

The Cardano Foundation is one of the key organizations supporting the development and adoption of the Cardano blockchain platform. It is an independent, non-profit organization based in Switzerland. The foundation's primary goals include overseeing the growth of the Cardano ecosystem, promoting its adoption, and safeguarding the platform's integrity. They focus on various areas, such as education, community outreach, and regulatory compliance. The Cardano Foundation works in collaboration with other entities, including IOHK and Emurgo, to advance the overall mission of Cardano.

Cardano Price Today

The maximum total supply of Cardano's ADA coin is 45 billion. When discussing the price of Cardano, it specifically refers to the price of the ADA asset, as Cardano is the blockchain platform for ADA. The current market cap of Cardano exceeds $8B. A high market capitalization indicates that the digital asset is highly valued by the crypto market.

ADA Price Statistics

Changelly, a leading cryptocurrency exchange catering to Cardano (ADA), provides comprehensive live price data for ADA. Our interactive charts offer a wide range of valuable information on the Cardanos price, ensuring support for your investment decisions.

Enhance your awareness of ADA's live price, 24-hour trading volume, market capitalization, lowest/highest price, maximum supply, circulating supply, price history, recent news, and Cardano forecast articles. Utilize Changelly's comprehensive ADA analysis for a more accurate Cardano price prediction and informed trading decisions. Stay engaged with real-time price updates, historical data, and add ADA to your watchlist for convenience.

Cardano’s average price is subject to high volatility, as is the case with most cryptocurrencies and financial assets. Like other cryptocurrencies, ADA price changes are induced by various factors. These include:

• market demand,

• investor sentiment,

• overall market conditions,

• regulatory developments,

• technological advancements,

• crypto adoption rate,

• project milestones and achievements of Cardano team,

• competition from other popular cryptocurrencies,

• economic factors,

• and news/events related to the cryptocurrency and blockchain industry.

Only by taking all these factors into account, it is possible to make a precise Cardano ADA price prediction.

Since the crypto market is still evolving and largely unregulated, investing in Cardano (ADA) or any other crypto asset carries substantial financial risks. It is crucial to exercise caution and conduct thorough research before buying, selling, or trading ADA or any other digital coin or token. Please note that this text is for informational purposes only, not to be regarded as investment advice.

Cardano Price History

ADA, the cryptocurrency native to the Cardano platform, was introduced in 2017 through a public sale of 25.9 billion tokens. This sale commenced in September 2015 and was followed by the issuance of an additional 5.2 billion tokens, distributed among three separate entities responsible for promoting and developing the Cardano protocol: Input Output Global (IOG), Emurgo, and the Cardano Foundation. IOG received 2.46 billion tokens, Emurgo was allocated 2.06 billion, and the foundation obtained 648 million tokens.

During its initial public tradability, ADA was valued at $0.02. Within a span of 96 days, Cardano prices experienced a significant surge, reaching a record of $1.31 in line with the broader crypto market's bullish trend in 2017.

Similar to the majority of cryptocurrencies, ADA encountered a sharp decline in value throughout 2018 (which is notoriously known as the crypto winter – a period of a sharp and prolonged decline in the value of cryptocurrencies, including Bitcoin and Ethereum, as well as numerous altcoins, with many investors facing substantial losses). By November of that year, the Cardano price had plummeted back to $0.02.

After more than two years, the Cardano price exceeded $1.31 again. With a fresh wave of bullish cryptocurrency market sentiment in early 2021, the value of the ADA Token steadily climbed, reaching its peak at $2.46 in mid-May 2021. Although a brief correction occurred between May and July, prices swiftly recovered. In September 2021, ADA achieved an unprecedented all-time high (maximum price) of $3.10, although the current price of Cardano is approximately 0.24 USD.

Live Cardano Price at Your Fingertips

Changelly offers the ultimate Cardano price statistics to empower your trading or investment decision. Look at our interactive ADA price chart to know what the live Cardano price is today, what the asset’s market capitalization is, its 24-hour trading volume is, the current and maximum circulating supply, among other valuable data, so you can make a more precise ADA price prediction.

You can easily track whether the digital currency is experiencing an upward or downward trend and access the ADA price history by periods to know how the price change behaved over time. Our crypto exchange platform offers the ADA to USD price conversion and much more, ensuring you have all the relevant data at your fingertips.

If the current ADA’s price seems a lucrative investment opportunity to you, you can easily buy Cardano with fiat money right on Changelly that aggregates rates from the leading crypto trading platforms, providing favorable rates to purchase over 550 cryptocurrencies with nearly 90 national currencies.

How to Get Cardano (ADA) Coins?

To acquire Cardanos ADA coins, there are several ways you can consider. One option is to purchase ADA from cryptocurrency exchanges. These websites and mobile apps act as platforms where you can trade your fiat currency, such as USD or EUR, for ADA coins.

Changelly is a well-established cryptocurrency exchange that offers the Cardano Token and several hundreds of other cryptocurrencies to buy with a credit card, debit card, wire transfer, and other popular payment methods. Our transactions are instant, secure, and come with super low trading fees, making Changelly the best destination for cryptocurrency enthusiasts and traders.

If you want to sell Cardano for cash and withdraw the funds to your card/bank account, or exchange ADA coins for another cryptocurrency – Changelly is your go-to platform.

Another way to get ADA is by participating in cryptocurrency trading platforms that support Cardano. These platforms can be decentralized crypto exchanges or peer-to-peer marketplaces, and they allow you to swap other cryptocurrencies you may already own, like Bitcoin, USD Coin, or Ethereum, for ADA coins. By utilizing the trading pairs available on these platforms, you can easily buy ADA.

If you prefer not to buy Cardano (ADA), you can also consider earning it by staking your existing ADA coins. Cardano utilizes a Proof of Stake (PoS) consensus algorithm, which allows you to stake Cardano and earn additional rewards for validating transactions on the network. By delegating your ADA coins to a trusted stake pool, you can earn more ADA coins as a form of passive income.

Lastly, you might be interested in joining community events, giveaways, or airdrops related to Cardano. These events often distribute ADA coins as rewards for participation or to promote the project. Keeping an eye on Cardano's official channels, social media accounts, and community forums can help you stay informed about any upcoming opportunities to get your hands on ADA coins for free.

Remember, regardless of the method you choose, it's important to exercise caution and conduct our own research to ensure the legitimacy and security of the platforms or channels you use to obtain Cardano (ADA) coins.

What Can You Do with Cardano (ADA) Coins?

Cardano's native cryptocurrency, ADA, is a multi-faceted asset within the Cardano ecosystem. Here are some of the possible uses and functionalities of the ADA Coin:

• Staking. ADA holders can participate in the Cardano network's PoS consensus mechanism by staking ADA tokens. By doing so, they contribute to network security and decentralization while earning additional ADA rewards.

• Governance, ADA holders can have a role in the governance of the Cardano platform. They can propose and vote on protocol upgrades, improvements, and funding decisions via a voting system enabled by ADA tokens.

• Transactions. ADA coins are used as a medium of exchange, just like traditional currency. ADA holders can send and receive payments on the Cardano network, generally paying lower transaction fees compared with traditional financial systems.

• DApps and Smart Contracts. As Cardano expands its capabilities, developers will build their own smart contracts and decentralized applications on the platform, using ADA as the native currency for transactions and fees.

• Investment. ADA can be seen as an investment asset. Users can buy and hold ADA with the anticipation that its value may appreciate over time, leading to potential capital gains.

• Platform for Non-Fungible Tokens. The Cardano platform has plans to integrate a native NFT (Non-Fungible Token) marketplace, where ADA can be utilized for buying, selling, and trading cryptocurrencies that present unrepeatable digital assets and collectibles.