ADA is the native token of the Cardano Blockchain..
Cardano is a blockchain network which is being developed into a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts. Cardano hopes to become the platform of choice for large-scale enterprise use.
ADA is the native token of Cardano. It can be "staked" and in the future will also be usable for services on Cardano.
There are 3 organizations behind Cardano - IOHK develops the technology, the Cardano Foundation supervises development and promotions and Emurgo drives commercial adoption.
Cardano's full launch consists of 5 phases:
- Byron (Sep 2017): mainnet launch of the Cardano blockchain
- Shelley (Jul 2020): Ouroboros Proof-of-Stake (PoS) protocol went live
- Goguen (2021): smart contracts and native token issuance features to go live
- Basho: scalability and interoperability
- Voltaire: voting, treasury system and governance by ADA holders
Consensus mechanism: Proof-of-Stake (PoS) consensus mechanism called Ouroboros.
Daedalus is a full-node desktop wallet for Cardano. It downloads a full copy of the Cardano blockchain and independently validates every transaction in its history. This provides maximum security and a trustless operation that does not rely on third-party servers.
Yoroi is a light wallet for Cardano that does not require downloading the blockchain. It is available as a web-based extension and a downloadable app.