What is Cardano and how does it work?

Cardano is one of the biggest cryptocurrencies by market cap. It’s designed to be a flexible, sustainable, and scalable blockchain platform for running smart contracts — which will allow the development of a wide range of decentralized finance apps, new crypto tokens, games, and more. Cardano is one of the biggest cryptocurrencies by market cap.

What is Cardano Ada?

ADA is the cryptocurrency for the Cardano platform. Cardano’s coin is named after Ada Lovelace, a 19th-century mathematician known as the first computer programmer. People use ADA tokens to pay transaction fees for using the platform. It’s also given out to the validators as a reward for running the proof of stake system. How Does Cardano Work?

What are Cardano native tokens?

On March 1, 2021, the Cardano blockchain introduced the ability to create native tokens. Like Ethereum tokens — which can include things like NFTs or stablecoins like USD Coin — Cardano native assets can be created and distributed on the blockchain and are able to interact with smart contracts.

What is staking Cardano on eToro?

Staking Cardano on eToro You can receive staking rewards when you hold on to Cardano. Staking is a process that allows users who own and hold supported crypto on eToro to earn rewards just for holding them. In the case of Cardano, the rewards come in the form of additional ADA — think of it as interest.