ADA is the native cryptocurrency of the Cardano blockchain. The primary use of the coin lies within the network's proof-of-stake mechanism. This involves token holders locking away (staking) ADA coins to validate transactions and secure the blockchain.
A transaction fee must be paid in ADA when using the Cardano blockchain. This allows validators in the network to complete the transfer within Cardano's settlement layer (see below for more details). All applications that are built on the Cardano blockchain will use ADA for transactional fees.
The coin also carries monetary value and, therefore, can be used to transact between friends, pay for goods and services and deposit funds on an exchange or decentralised application.
The supply of tokens is capped at a maximum of 45 billion ADA. Cardano is being built with two layers – the Cardano Settlement Layer and the Cardano Computation Layer. The two layers provide the flexibility businesses need to tailor smart contracts to their requirements.Cardano Settlement Layer. The settlement layer acts as the platform's balance ledger. It uses a proof-of-stake (PoS) algorithm to generate new blocks and confirm transactions.Cardano Computation Layer. The execution layer for smart contracts. The Cardano team will soon be launching a new programming language (Plutus) that will be used to build smart contracts.
Instead of using a proof-of-work consensus algorithm like Bitcoin, Cardano uses a proof-of-stake algorithm called Ouroboros. Under this system, blocks are generated and transactions verified by slot leaders, or validators. Anyone who holds ADA tokens can become a slot leader, with slot leaders randomly chosen using a coin-flipping protocol.
Cardano (ADA) is the 11st largest cryptocurrency in the world by market cap, valued at $14,182,688,536. The current price of Cardano is $0.397947, which is 0.439%
higher than yesterday. Prices have ranged between $0.399152 and $0.382946 over the past 24 hours. All prices are listed in US dollars and accurate as of July 26, 2024 01:07 UTC.
Recent Cardano developments
2 November, 2023: The price of ADA rose by 18% over October, pushing the coin back into the top 10 cryptos by market capitalisation. 3 October, 2023: There are now 144 projects live on Cardano, with a total of 1,287 projects building on the network 1 September, 2023: The price of ADA declined by 15% over the course of August, as usage of Cardano remains limited compared to competitors like Ethereum. June 16, 2023: Robinhood, eToro and Bakkt cease trading of Cardano in the US, following actions by the SEC which alleged ADA was a security.
How we keep this Cardano guide up-to-date
ADA price data is regularly updated through data feeds so you always have the latest information.
Cardano performance data is regularly updated using automated comparisons.
Cardano at a glance
Information last updated July 26, 2024 01:07 UTC.
Coin symbol
ADA
Coin Marketcap
US$14,182,688,536
Total ADA supply
45,000,000,000
Circulating ADA
35,576,177,709
Current price
US$0.397947
All time high
US$3.09
All time high date
September 02, 2021
Notable team members
Charles Hoskinson
Partnerships
Dish, Chainlink, Near Protocol
Industry
Blockchain platform
Token uses
Utility token, rewards
Network
Cardano
Cardano price performance over time
Historical prices compared with the price of US$0.397947.
1 hour
0.50%
24 hours
0.44%
7 days
-5.27%
14 days
-0.54%
30 days
1.69%
60 days
-13.35%
200 days
-19.88%
1 year
31.38%
Disclaimer: Cryptocurrencies, including Cardano, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ADA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Cardano or any other cryptocurrency discussed.
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