Cardano (ADA)
Rank #15
Market snapshot
- Price
- $0.208362
- Market cap
- $7.7B
- 24h volume
- $433.4M
- Circulating supply
- 36,744,787,974.276
- Total supply
- 44,994,656,310.4976
- Max supply
- 45,000,000,000
What is Cardano?
Cardano is a blockchain platform that is designed to facilitate the development of decentralized applications and smart contracts. It employs a unique proof-of-stake consensus mechanism called Ouroboros, which is the first peer-reviewed, verifiably-secure blockchain protocol. This design allows Cardano to operate in a sustainable manner while supporting a wide range of applications.
How Cardano works
Cardano operates on a proof-of-stake consensus model, which involves validators creating new blocks and confirming transactions based on the amount of ADA they hold and are willing to 'stake' as collateral. The Ouroboros protocol ensures the security and integrity of the blockchain through its peer-reviewed design. Cardano's architecture separates the settlement layer from the computation layer, allowing for greater flexibility and scalability in transaction processing.
Key information
- Symbol
- ADA
- CMC rank
- #15
- Network / platforms
BNB Chain
- Categories
- Proof of stake
- Date added
- Oct 1, 2017
Contract address
Contract addresses are stored from CoinMarketCap metadata and are shown as recorded. CoinLoom does not independently certify them as official.
BNB Chain
0x3ee2200efb3400fabb9aacf31297cbdd1d435d47
Key characteristics
Cardano is built through peer-reviewed research and aims to be secure enough to protect vast amounts of data. It is designed to be scalable to accommodate global systems and robust enough to support foundational change. The platform includes features such as the Leios prototype for endorser block certification and ongoing development of Plutus, which enhances smart contract capabilities.
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and any supplied contract details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Cardano (ADA)?
- Cardano is a blockchain platform represented by the cryptocurrency ADA, designed to enable the development of decentralized applications and smart contracts.
- How does Cardano operate?
- Cardano operates on a proof-of-stake consensus model using the Ouroboros protocol, which allows validators to create new blocks and confirm transactions based on the amount of ADA they hold.
- What are the key technical features of Cardano?
- Cardano is built through peer-reviewed research, ensuring its security and scalability. It features a separation of the settlement and computation layers to enhance flexibility.
- What risks are associated with transferring Cardano?
- Users should verify the contract address and network before transferring assets, and understand that transfers may be irreversible.
- How can I verify the acquisition of Cardano?
- Verify the asset name, network, and contract details before transferring, and review the custody method.
- Where can I find official resources for Cardano?
- Official resources for Cardano can be found at their website, developer documentation, and blockchain explorers.
Related cryptocurrencies
Listed from stored network and category relationships, not a similarity score.
