What Is Cardano (ADA)?

Jason Matt Lukis, MBA, MS
2 min readAug 19, 2021
Image Credit: Yahoo Finance

According to cardano.org, their purpose is as follows:

A platform built for a sustainable future, to help people work better together, trust one another, and build global solutions to global problems

Cardano is an open-source, decentralized, and public platform whose native token is ADA. Cardano was developed in 2015 by Charles Hoskinson, the co-founder of the proof-of-work (PoW) blockchain Ethereum. However, it did not launch until 2017.

Cardano is a proof-of-stake blockchain network, which is being developed into a decentralized application (DApp) development platform with a multi-asset ledger and verifiable smart contracts. It aims to be able to work with different assets and communicate between different cryptocurrencies. Thus, creating an internet of blockchains.

Cardano is a blockchain that also hosts smart contracts and applications, similar to Ethereum. ADA is a cryptocurrency and proof of stake coin on its blockchain. ADA’s purpose is to provide quick and secure transfers of value and to provide users to operate smart contracts and applications.

The maximum supply of ADA coins ever is capped at 45 billion coins. The total circulating supply, as of today is a little over 33 billion coins.

2017 ADA had a market cap of $600 million USD

2018 ADA reached a market cap of $33 billion USD

Today, August 19, 2021, that market cap is now at over $76 billion USD

You can take a look at live information on ADA at: https://coinmarketcap.com/

If you would like to buy this alt-coin, you can do it on Coinbase. This sign-up link will give you and me $10 in free Bitcoin for signing up.

Learn more about me here:

www.jasonmattlukis.com

  • The contents of this article are for informational purposes only and do not constitute financial, accounting, or legal advice.

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Jason Matt Lukis, MBA, MS

MBA in Management from NSU | MSci. in International Real Estate from FlU | Graduate Student in Social Media at UF