Cardano (ADA) Explained in 60 Seconds
Cardano is the 4th largest cryptocurrency and was created in 2017. Cardano was founded by Charles Hoskinson, a mathematician and one of the original founders of the Ethereum Network. You can think of Cardano as a greener version of Ethereum.
It is the world’s largest proof-of-stake blockchain, which is a more efficient protocol for validating transactions and means it does not need energy-intensive crypto mining rigs to secure the network. Many believe Cardano to be an Ethereum killer because it is also a decentralized blockchain platform that allows decentralized apps (Dapps) and smart contracts to live on top of it.
ADA is the cryptocurrency token associated with Cardano. Cardano’s ADA is an altcoin, meaning it is an alternative to Bitcoin. The coin is named after the 19th-century mathematician Ada Lovelace, who is considered by many as the first computer programmer.
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