Cardano (ADA) Crypto Exchange

Cardano is a blockchain platform that facilitates the creation of dApps and tokens, and can also be used for peer-to-peer transactions. It was launched in 2015 by a company named Input-Output Hong Kong (IOHK) and aimed to resolve the blockchain trilemma: scalability, interoperability, and sustainability. Cardano project was initially issued by Charles Hoskinson, the co-founder of Ethereum. He was the one who realized that the Proof-of-Work algorithm, which underpins such blockchains as Bitcoin and Ethereum, possesses many restrictions and weak spots, like scalability and sustainability. That’s why the Cardano network uses the Ouroboros algorithm, based on the Proof-of-Stake protocol. The native coin of this blockchain is ADA. It can be used not only for transfer of value, as fiat, or any other cryptocurrency but also for staking — helping “stake pool operators” to verify transactions within the network and sign blocks. In 2022, a proposal for the Vasil hard fork was submitted and is planned to be implemented in June. The Vasil protocol is expected to provide the network with cheaper transactions and a more adaptable network. Efficiency is also expected to be improved with the help of Plutus scripts. To learn Cardano news today, head to the bottom of this page.