What is Cardano

cardano Ada cardano ticker symbol Ada

is a decentralized proof of stake

PLS blockchain designed to be a more efficient alternative

to proof of work pow Networks cardano’s

cryptocurrency is named Ada after

Augusta Ada King  Countess of Lovelace 1815-1852

by users taking part in a stake pool

Key takeaways key takeaways cardano is a

cardano aims

cardano aims to be a decentralized

application dap development platform with a multi-asset ledger and verifiable

smart contracts cardano runs on the proof of

stake ruboros consensus protocol the

primary cryptocurrency of is called Ada.

ADA Charles hoskinson the co-founder of

ethereum began the development of ADA in 2015 History of ADA and launched the platform in 2017.

ADA has  positioned itself as an

alternative to ethereum both platforms are used for

similar applications such

as smart contracts and have goals of building a connected and decentralized system

ADA considers itself an updated version of ethereum and has anointed itself a third generation  platform compared with ethereum’s second

generation credentials the blockchain platform  also has a goal of providing banking services to the worlds and

banked how is ADA different  from Bitcoin there are several key differences

ADA is an ecosystem that allows other developers to  create tokens decentralized applications or

create other use cases for scalable blockchain  Network ADA uses POS and its consensus and doesn’t reward

Ada as an incentive in a  competitive mining process like Bitcoin does

this reduces the energy and waste Footprints by  not requiring large amounts of electricity to power computers specifically

designed for mining  ADA users can install compatible wallet software on their computers or devices stake their

Ada and begin earning rewards for participating thank you very much

What is Cardano

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