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Cardano (ADA) - Live Price Today | 1 Cardano To USD

ADA Cryptocurrency - ADA Crypto Price - 1 Cardano to USD

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Cardano is an open-source multi-layered blockchain-based computing platform developed by IOHK, that can be used for financial transactions - as well as distributed computing. 

The native cryptocurrency token of Cardano is ADA, and its platform can be used to create and run smart contracts, DApps, and other applications.

Cardano is essentially a competitor to Ethereum in that, like Ethereum, it is a decentralized and distributed platform for both settling financial transactions via a blockchain, and creating and hosting distributed blockchain-based computer programs (computer programs that are collectively hosted on computers across the world using blockchain technology).

Cardano is a large-scale project that aims to combine the majority of what crypto can do, into a "3.0" version.

Cardano is a decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks. 

The infrastructure burden of rising costs, energy consumption, and slow transaction times limits scalability, interoperability, and sustainability on PoW networks like Ethereum.

The implications of these challenges to blockchain networks were recognized by Charles Hoskinson - co-founder of the proof-of-work (PoW) blockchain Ethereum, who began developing Cardano and its primary cryptocurrency, ada, in 2015, launching the platform and the ADA token in 2017.

The Ouroboros consensus protocol underpins the Cardano platform. 

Ouroboros, developed by Cardano during its early stages, was the first PoS protocol that was not only proven to be secure, but also the first to be informed by scholarly academic research. 

Each development phase, or era, in the Cardano roadmap is anchored by the research-based framework, which combines peer-reviewed insights with evidence-based methods to progress toward and achieve milestones related to the future directions of the blockchain network and the ADA token's use applications.

As of June 20, 2021, 71.59 percent of Cardano's cryptocurrency ASA is staked in 2,626 active pools with a total value of $31.4 billion.

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