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Cardano ADA

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1. Summary

Fundamental Rank
99
Developer Rank
100
Social Rank
100
Coinrank
100
Price
$1.24 +1.1%
Market Cap
$39.79B (#4)
Supply
32.07B / 45.00B
Description

Cardano (ADA) is essentially this proof-of-stake blockchain platform. It is a smart contract platform that uses a cryptocurrency native to it known as ADA. It essentially has the goal of being a network that avoids the pitfalls of cryptocurrencies such as Bitcoin and Ethereum, in the form of scalability, energy usage,...

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Cardano (ADA) is essentially this proof-of-stake blockchain platform. It is a smart contract platform that uses a cryptocurrency native to it known as ADA. It essentially has the goal of being a network that avoids the pitfalls of cryptocurrencies such as Bitcoin and Ethereum, in the form of scalability, energy usage, and being able to interact with regular money. This is an open-source project founded in 2017. Cardano is one of the biggest blockchains out there to successfully implement and use proof-of-stake as a consensus mechanism. This is a lot less energy-intensive when compared to proof-of-work, which is used in Bitcoin.

The ADA Token Explained

The ADA Token has a design that can ensure each owner of it has the ability to participate in the operation of the network. Those who have the cryptocurrency can vote on any proposed changes to the core software. Unlike miners, as you would find in Bitcoin, in Cardano, there are validators that are chosen by the network depending on how much ADA currency they own. When selected, they can validate the transactions on the block, and they place a bet on how confident they are in being able to verify all of the transactions. If the blockchain verifies the validator block, they get rewarded with ADA.

Features of Cardano

Cardano uses the Ouroboros, which is a proof-of-stake (PoS) algorithm that can create blocks and validate transactions occurring on the blockchain. The time is divided into epochs and slots, where epochs represent the overarching timeframes, and slots represent 20-second intervals. Throughout each slot, a leader is randomly picked to add the next block onto the blockchain, and after that, the next slot leader is picked.

There are three types of nodes on the Cardano blockchain. First, you have Edge, which is used for creating cryptocurrency transactions. Then you have mCore, where you can stake ADA and participate in the distributed governance. Finally, you have Relay, where you can send data between mCore and the public internet.

Founders of Cardano (ADA)

Cardano (AVA) was founded by Charles Hoskinson, who is also one of the co-founders of the Ethereum network. He also fills the role of the CEO at IOHK, which is the company behind the Cardano blockchain. He has been involved in cryptocurrencies ever since 2011, with his first professional involvement occurring in 2013 where he created a course about Bitcoin.

2. Price

$ADA / USD

2.1. Market Performance

How does Cardano's (ADA) performance compare to assets of a similar market capitalization?

30 Day Return

-7%

ADA

-10%

Similar Market Cap

60 Day Return

7%

ADA

-18%

Similar Market Cap

1 Year Return

1,384%

ADA

3,786%

Similar Market Cap

3. Developer Activity

We're monitoring 100 Github repos for the Cardano project.

Commits vs. The Market

  • Past 4 weeks: 1,593 commits vs. an average of 58
  • Past 12 weeks: 6,124 commits vs. an average of 244
  • Past year: 24,646 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 137
Past 12 weeks 593
Past year 3063
Past week 17
Past 12 weeks 315
Past year 2070
Past week 172
Past 12 weeks 612
Past year 1937
Past week 90
Past 12 weeks 276
Past year 1500
Past week 141
Past 12 weeks 290
Past year 1466
Past week 57
Past 12 weeks 274
Past year 1108
Past week 31
Past 12 weeks 216
Past year 1027
Past week 39
Past 12 weeks 217
Past year 1022
Past week 260
Past 12 weeks 603
Past year 704
Past week 43
Past 12 weeks 128
Past year 595
Past week 22
Past 12 weeks 57
Past year 565
Past week 19
Past 12 weeks 103
Past year 515
4. Social Activity
Reddit Subscribers (cardano) 526,450
Active Reddit Users 2,320
Telegram Users 38,809
Twitter followers 512,913
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