What is Cardano (Ada)?

The Cardano platform can handle all kinds of transactions, but the real goal is to become the “Internet of Blockchains,” creating an ecosystem that allows seamless interchangeability between different blockchains. Let’s look at how Cardano (ADA) stacks up against the other major cryptocurrency players. What Is Cardano?

What is adaada (Ada)?

ADA is a Cardano utility token that is used as a medium of exchange. By integrating the distributed ledger technology and the smart contract infrastructure, the Cardano Blockchain ics created as a twin of Ethereum.

How is Cardano (Ada) mined?

How is ADA mined? Cardano’s native cryptocurrency, ADA, isn’t actually mined. Whereas with blockchains like Bitcoin, coins are “discovered” by miners, with Cardano, we have validators. These validators are chosen by the network itself to validate transactions based upon how much ADA they hold.

What is Ada (Ada) cryptocurrency?

Cardano's cryptocurrency is named Ada after Augusta Ada King, Countess of Lovelace (1815-1852), who is commonly regarded as the first computer programmer. Ada is used in the blockchain's PoS consensus mechanism. It is given as a reward for work done for the blockchain by users participating in a stake pool.