Cardano (ADA) is one of the fastest growing Layer-1 blockchain assets in the crypto industry. Designed by cryptography and engineering experts, including crypto OG and former Ethereum co-founder Charles Hoskinson, the Cardano blockchain platform was built using scientific and mathematical principles and was named after the Italian mathematician, Gerolamo Cardano.
The ADA token is named after Ada Lovelace, an English mathematician involved in early computing and the daughter of Lord Byron. A subunit of ADA is called the “Lovelace” so that 1 ADA = 1,000,000 Lovelace. ADA was launched in 2017 following a public sale of 25.9 billion tokens that began in September of 2015.
ADA is the native token for Cardano, an open-source Proof-of-Stake (PoS) blockchain founded on peer-reviewed research in 2015. With a mission to provide a sustainable, scalable platform for running smart contracts, Cardano enables dApp development in a wide range of industries.
Byron phase was launched in September of 2017 with the mainnet launch of the Cardano Blockchain.
Shelly phase was launched in July of 2020 with Ouroboros PoS protocol going live.
Goguen phase, also named the Alonzo upgrade, was launched in September of 2021 to enable smart contracts.
Team:
Cardano is led by the somewhat eccentric and controversial Charles Hoskinson, who is a very public-facing community leader. Overall, Cardano is backed by 3 entities:
Making headlines:
Sign up to the Crypto Weekly newsletter to get our weekly Coin Profile!
Cardano has been a massive project since the early days of crypto. The project has seen its share of controversy, and continues to get a healthy dose of skepticism from some areas of the crypto community, particularly over its long awaited smart contract capabilities.
Competitive?
Cardano is the 4th most powerful blockchain by market cap (after Bitcoin, Ethereum, and BNB). As one of the most popular “Ethereum Killers”, the Cardano Layer-1 project is similar to Ethereum in that it emphasizes a platform where others can build decentralized applications. Their differences include:
Hiring?
Positions listed at the Cardano Foundation and IOHK are currently closed.
Scalable?
One of the main premises of the Cardano project is to scale and become interoperable with other blockchains. However its slowish development of smart contract capabilities has hindered this effort, and currency dApp ranking sites like State of the Dapps and DappRadar do not include Cardano in their rankings. Defi Llama lists 7 active dApps for Cardano. However, since March of 2021, over 800,000 NFTs have been issued off the Cardano blockchain, as well as over 6000 tokens.
Social traction?
Social followers for the Cardano community total over 4.2 million, including the active r/Cardano subreddit with over 700k followers, and 30,000+ people involved in international Cardano meetups. Cardano is very often a trending topic on Reddit and Twitter and has an active developer community.
Partnerships:
Cardano’s key partners, as described in the team section, are IOHK, the Cardano Foundation, and Emurgo.
Total supply:
34,512,850,429
Distribution:
ADA was distributed via vouchers totaling 25.9 billion tokens in a public sale that ran from September 2015 to January 2017. Those who participated in the token generation event could redeem the vouchers for ADA through Cardano’s native Daedalus wallet.
Total ADA available at launch:
31.1 billion tokens
Funding:
Team Vesting:
Of the 3 entities receiving allocations (IOHK, the Cardano Foundation, and Emurgo), only IOHK’s allocation (2.46 billion, roughly half) required vesting:
⅓ available immediately
⅓ available on June 1 2018
⅓ available on June 1 2019
Token utility
Decentralized?
Burning? No, likely never will.
Code Audit? No code audit was available via Cardano official channels.
Transparent founders? Yes.
Bug bounty? Yes.
The Cardano roadmap includes achieving the upcoming phases:
Website
$ADA on Coingecko
ADA Markets Profile
Documentation
Block Explorer
Github
Twitter
Forum
Discord - no official server
The ADA token is named after Ada Lovelace, an English mathematician involved in early computing and the daughter of Lord Byron. A subunit of ADA is called the “Lovelace” so that 1 ADA = 1,000,000 Lovelace. ADA was launched in 2017 following a public sale of 25.9 billion tokens that began in September of 2015.
ADA is the native token for Cardano, an open-source Proof-of-Stake (PoS) blockchain founded on peer-reviewed research in 2015. With a mission to provide a sustainable, scalable platform for running smart contracts, Cardano enables dApp development in a wide range of industries.
Byron phase was launched in September of 2017 with the mainnet launch of the Cardano Blockchain.
Shelly phase was launched in July of 2020 with Ouroboros PoS protocol going live.
Goguen phase, also named the Alonzo upgrade, was launched in September of 2021 to enable smart contracts.
Team:
Cardano is led by the somewhat eccentric and controversial Charles Hoskinson, who is a very public-facing community leader. Overall, Cardano is backed by 3 entities:
Making headlines:
Sign up to the Crypto Weekly newsletter to get our weekly Coin Profile!
Cardano has been a massive project since the early days of crypto. The project has seen its share of controversy, and continues to get a healthy dose of skepticism from some areas of the crypto community, particularly over its long awaited smart contract capabilities.
Competitive?
Cardano is the 4th most powerful blockchain by market cap (after Bitcoin, Ethereum, and BNB). As one of the most popular “Ethereum Killers”, the Cardano Layer-1 project is similar to Ethereum in that it emphasizes a platform where others can build decentralized applications. Their differences include:
Hiring?
Positions listed at the Cardano Foundation and IOHK are currently closed.
Scalable?
One of the main premises of the Cardano project is to scale and become interoperable with other blockchains. However its slowish development of smart contract capabilities has hindered this effort, and currency dApp ranking sites like State of the Dapps and DappRadar do not include Cardano in their rankings. Defi Llama lists 7 active dApps for Cardano. However, since March of 2021, over 800,000 NFTs have been issued off the Cardano blockchain, as well as over 6000 tokens.
Social traction?
Social followers for the Cardano community total over 4.2 million, including the active r/Cardano subreddit with over 700k followers, and 30,000+ people involved in international Cardano meetups. Cardano is very often a trending topic on Reddit and Twitter and has an active developer community.
Partnerships:
Cardano’s key partners, as described in the team section, are IOHK, the Cardano Foundation, and Emurgo.
Total supply:
34,512,850,429
Distribution:
ADA was distributed via vouchers totaling 25.9 billion tokens in a public sale that ran from September 2015 to January 2017. Those who participated in the token generation event could redeem the vouchers for ADA through Cardano’s native Daedalus wallet.
Total ADA available at launch:
31.1 billion tokens
Funding:
Team Vesting:
Of the 3 entities receiving allocations (IOHK, the Cardano Foundation, and Emurgo), only IOHK’s allocation (2.46 billion, roughly half) required vesting:
⅓ available immediately
⅓ available on June 1 2018
⅓ available on June 1 2019
Token utility
Decentralized?
Burning? No, likely never will.
Code Audit? No code audit was available via Cardano official channels.
Transparent founders? Yes.
Bug bounty? Yes.
The Cardano roadmap includes achieving the upcoming phases:
Website
$ADA on Coingecko
ADA Markets Profile
Documentation
Block Explorer
Github
Twitter
Forum
Discord - no official server
Be sure to join us on Telegram, Discord and Twitter!
—
Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.
Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.
Manage all your crypto assets on the go with zero-gas swaps and a unified portfolio at your fingertips.
Disclaimer: Information contained herein should not be construed as investment advice, or investment recommendation, or an order of, or solicitation for, any transactions in financial instruments; We make no warranty or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose. Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation to buy, sell or hold a particular financial instrument; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Quad Terminal, or vice versa. Market information is made available to you only as a service, and we do not endorse or approve it.
Copyright © Quad Terminal
