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 8th largest cryptocurrency in the world by market cap, valued at $15,509,525,687. The current price of Cardano is $0.45877, which is -0.096% lower than yesterday. Prices have ranged between $0.461069 and $0.445995 over the past 24 hours. All prices are listed in US dollars and accurate as of July 03, 2022 09:07 UTC.
| Coin symbol | ADA |
|---|---|
| Coin Marketcap | US$15,509,525,687 |
| Total ADA supply | 45,000,000,000 |
| Circulating ADA | 33,820,262,544 |
| Current price | US$0.45877 |
| 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 |
Historical prices compared with the price of US$0.45877.
| 1 hour | 0.00% |
|---|---|
| 24 hours | -0.10% |
| 7 days | -7.93% |
| 14 days | 0.19% |
| 30 days | -21.84% |
|---|---|
| 60 days | -40.64% |
| 200 days | -63.77% |
| 1 year | -67.12% |
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Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
What to consider when predicting the future price fluctuations of Cardano’s ADA cryptocurrency.
Your guide to the best wallets for safely and securely storing Cardano Ada tokens (ADA), including tips on how to choose the right wallet for your needs.
