ADA Live Price Converter

Cardano (ADA) bills itself as a "3rd generation" blockchain-based cryptocurrency and Smart Contract ecosystem. The lead designer behind Cardano, Charles Hoskinson, used to work on Ethereum before leaving in 2017 to concentrate on his own project when it became clear that Ethereum wasn’t addressing the network’s problems. In this regard, Cardano can be seen as an immediate improvement over Ethereum. Earlier Smart Contract systems had scalability issues and could not effectively manage an increasing number of transactions. Cardano solves these and other problems. The project's foundational development ideology prioritizes the creation of completely decentralized systems of exchange.

The native Cardano token (ADA) is named after Ada Lovelace, a 19th-century scientist and the first computer programmer. The purpose of the ADA coin is to give token holders a voice in the management of the network and a say in what gets added or changed in the system.

In the summer of 2021, ADA’s value increased by 116% after Charles Hoskinson, Cardano’s founder, announced the launch of the Alonzo hard fork. The release of Alonzo in September 2021 finally brought smart contract functionality to the blockchain. In the first 24 hours after going live, over 100 smart contracts were launched.

The developers behind Cardano claim there are already convincing use cases for their technology. For instance, Cardano has already been effectively and successfully used by farmers to track fresh food from the field to the table and retailers to prevent the sale of counterfeit goods.