Exchange Cardano (ADA)

Cardano is a blockchain platform and cryptocurrency that was created to provide a secure and scalable infrastructure for the development of decentralized applications (dApps) and smart contracts. It was founded by Charles Hoskinson, one of the co-founders of Ethereum, and its development is driven by the IOHK (Input Output Hong Kong) organization.

Cardano distinguishes itself from other blockchain platforms, like Ethereum, by its focus on academic research and a more rigorous approach to development. It aims to address some of the scalability, sustainability, and interoperability challenges that have been observed in earlier blockchain systems.

The Cardano network was developed by a team of engineers, researchers, and developers, with a significant role played by Input Output Hong Kong (IOHK), a blockchain research and development company founded by Charles Hoskinson. Cardano's development process has been characterized by a rigorous and academic-driven approach.

IOHK, led by Charles Hoskinson, is one of the primary organizations responsible for the development of Cardano. IOHK was contracted to design, develop, and maintain the Cardano blockchain platform. The company has a strong focus on academic research and formal methods, and it has collaborated with various universities and research institutions to ensure a scientifically sound foundation for Cardano.

The Cardano Foundation is another key organization involved in the Cardano project. It focuses on community and ecosystem growth, education, and adoption. Its role includes facilitating partnerships, promoting Cardano's use cases, and supporting the development of the Cardano ecosystem.

Emurgo is a global blockchain technology company and one of the founding entities of Cardano. It concentrates on fostering commercial ventures and businesses that utilize the Cardano blockchain. Emurgo has been instrumental in promoting Cardano adoption in various industries.

Cardano uses a layered architecture that separates the settlement layer (called "Cardano Settlement Layer" or CSL) from the computation layer (called "Cardano Computation Layer" or CCL). This separation is intended to improve scalability and allow for more flexibility in upgrading the network.

The network uses the Ouroboros Proof-of-Stake (PoS) consensus algorithm, which is designed to be energy-efficient and secure. It allows token holders to participate in the network's consensus process and earn rewards by staking their ADA (the native cryptocurrency of Cardano).

Cardano supports smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. These smart contracts can be used to create a wide range of decentralized applications and services.

The Cardano network allows the creation of custom tokens and assets on its blockchain, not just ADA. This feature enables the issuance of new digital assets and the development of various token-based applications.

The project also places a strong emphasis on formal methods and mathematical proofs for verifying the correctness and security of its smart contracts, making it more resilient to vulnerabilities and bugs.

Cardano aims to support cross-chain communication and interoperability with other blockchain networks, facilitating the exchange of assets and data between different blockchain ecosystems.

The treasury system of the network, called the "Project Catalyst," allows ADA holders to vote on proposals for network improvements and fund allocation, ensuring ongoing development and governance.

Cardano development was divided into the phases:

• The Byron phase was the initial phase of Cardano's development, focused on establishing the foundational aspects of the blockchain. During this phase, the Cardano mainnet was launched, and ADA became tradeable.
• The Shelley phase marked a significant milestone in Cardano's development, as it introduced the decentralization of the network. Stakeholders were able to participate in the PoS consensus algorithm by staking their ADA. The Shelley upgrade aimed to make Cardano more decentralized, secure, and sustainable.
• The Goguen phase was dedicated to enabling smart contract functionality on the Cardano platform. This phase allowed developers to create decentralized applications (dApps) and deploy smart contracts on the Cardano blockchain. It expanded the utility of ADA by enabling various use cases.
• The Basho phase aims to improve Cardano's scalability, performance, and interoperability. It focuses on optimizing the network to handle more transactions and improving its overall efficiency.
• The Voltaire phase introduced on-chain governance to Cardano through Project Catalyst. ADA holders can participate in decision-making, proposal voting, and funding allocation, ensuring that the community has a say in the development and direction of the platform.

ADA is the native cryptocurrency of the Cardano blockchain platform. It plays a central role in the Cardano ecosystem and has several important functions and features. ADA can be used as a digital currency for various transactions, similar to Bitcoin and other cryptocurrencies. Users can send and receive ADA as a means of value transfer.

ADA holders have the ability to participate in the governance of the Cardano network through a system called "Project Catalyst." This system allows ADA holders to vote on proposals for network upgrades, development projects, and funding allocations. It's a way for the community to have a say in the direction of the platform.

ADA can also be used to pay for transaction fees and computational resources when interacting with smart contracts on the Cardano platform. This means that developers and users need ADA to create and use decentralized applications (dApps) and services on Cardano.

The total supply of the ADA tokens is 36,137,410,586 with 35,084,369,822 ADA in the currency circulation as of September 2023.

Average Fees on the Cardano Network

As of the most recent data available in April 2022, Cardano offers a cost-effective user experience. The gas fees for Cardano transactions are presently set at 0.19 ADA per transaction. These expenses are contingent on three variables: a fixed ADA amount, the ADA cost per byte, and the transaction's size.

ADA Token Wallets

Cardano native token can be stored in one of the following wallets: Daedalus, Yoroi, AdaLite, Atomic Wallet, Exodus, Ledger Live (with Ledger hardware wallet), Trezor Suite (with Trezor hardware wallet), Trust Wallet, Coinomi, Guarda Wallet, Infinito Wallet, Cobo Wallet, Ellipal Wallet, Math Wallet, Magnum Wallet, etc.