Cardano (ADA)

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:

  1. Byron (Sep 2017): mainnet launch of the Cardano blockchain
  2. Shelley (Jul 2020): Ouroboros Proof-of-Stake (PoS) protocol went live
  3. Goguen (2021): smart contracts and native token issuance features to go live
  4. Basho: scalability and interoperability
  5. Voltaire: voting, treasury system and governance by ADA holders

Consensus mechanism: Proof-of-Stake (PoS) consensus mechanism called Ouroboros.

Wallets

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.

Useful links

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