ADA
Cardano is a decentralized, open-source blockchain platform that is focused on providing a secure and scalable infrastructure for the development of decentralized applications (DApps). It was developed by Input Output Hong Kong (IOHK), a blockchain research and development company, and was created by Charles Hoskinson, co-founder of Ethereum.
Cardano uses a proof-of-stake consensus algorithm called Ouroboros, which allows users to validate transactions and earn rewards based on the amount of Cardano (ADA) they hold. This is in contrast to proof-of-work algorithms, which are used by cryptocurrencies like Bitcoin and require users to solve complex mathematical problems in order to validate transactions and earn rewards.
The native cryptocurrency of the Cardano platform is called ADA, and it can be bought and sold on cryptocurrency exchanges. In addition to being used as a means of payment on the Cardano platform, ADA can also be used as a store of value and can be used to participate in the governance of the Cardano network.
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