Purebun.com – Get to know the ADA Token, the Cardano Network Crypto, which is one of the top altcoins. Cardano is a proof-of-stake blockchain platform whose goal is to enable “change-makers, innovators and visionaries” to bring about positive global change.
As an open source project, Caradno also aims to “redistribute power from irresponsible structures to the margins of individuals” helping to create a more secure, transparent and fair ecosystem.
Cardano was founded back in 2017, and is named after the 16th century Italian polymath Gerolamo Cardano. The original ADA token takes its name from the 19th century mathematician Ada Lovelace, who is widely considered to be the world’s first computer programmer.
The ADA token is designed to ensure owners can participate in the operation of the network. Therefore, those who hold these cryptocurrencies have the right to vote for any proposed changes to the software.
Founder of Cardano
Cardano was founded by Charles Hoskinson, who was also one of the founders of the ethereum network. He is the CEO of IOHK, the company that built the Cardano blockchain.
In August 2021, Charles Hoskinson announced the launch of the Alonzo hard fork, causing the Cardano price to soar, rising 116 percent the following month. On September 12, 2021, the Cardano ‘Alonzo’ hard fork was officially launched, bringing smart contract functionality to the blockchain. More than 100 smart contracts were deployed in the next 24 hours after launch.
Cardano is also used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a non-perishable way, and retailers to suppress counterfeit goods.
Uniqueness of Cardano
What Makes Cardano Unique?
Cardano is one of the largest blockchains to successfully use a proof-of-stake consensus mechanism, which is more energy efficient than the proof-of-work algorithm Bitcoin relies on. While the much larger Ethereum will be upgraded to PoS, this transition will only be gradual.
The project takes pride in ensuring that all technologies developed go through a peer-reviewed research process, which means bold ideas can be challenged before being validated.
According to the Cardano team, this academic rigor helps blockchains to be durable and stable increasing the likelihood that potential pitfalls can be anticipated in advance.
Price ADA Today
Based on Coinmarketcap data, Tuesday (7/6/2022), the price of ADA is IDR 8,475 with a 24-hour trading volume of around IDR 21.6 trillion.
The ADA is down 3.25 percent in the last 24 hours and 0.60 percent on the week. Meanwhile, Coinmarketcap’s current rating is 6 with a market capitalization of IDR 285.9 trillion. To date, there has been a circulating supply of around 33.7 billion ADA out of a maximum supply of 45 billion coins.
Crypto Prices Tuesday Morning 7 June 2022
Then Cardano (ADA) is still strengthening since yesterday. In the past day the ADA was up 7.50 percent and 10.27 percent a week. Thus, ADA is at USD 0.6171 per coin.
Meanwhile, Solana (SOL) also continued to strengthen this morning. Throughout the last one day SOL rose 7.87 percent, but still weakened 9.20 percent for the week. Currently, the price of SOL is at the level of USD 42.96 per coin.
XRP is still gaining ground today. In the past day, XRP edged up 1.55 percent, but is still down 2.68 percent for the week. That way, XRP is now priced at USD 0.4036 per coin.
Stablecoin Tether (USDT) and USD coin (USDC), both strengthened 0.01 percent today. This makes USDT at the level of USD 0.9993. While USDC is valued at USD 1.00.
Binance USD (BUSD) is down 0.01 percent in the last 24 hours. Now the price of BUSD should drop slightly to the level of USD 0.9997.