What is Cardano, and why is it called ADA?

Qu'est-ce que Cardano, et pourquoi l'appelle-t-on ADA ?

Experienced cryptocurrency investors note significant growth in demand for cryptocurrencies. This is because people around the world are looking for reliable assets to store their funds. This trend is intensified by the growing tension of the geopolitical situation in the world. Indeed, the latter increases the risks of inflation for fiat money. However, some blockchain lovers have difficulty choosing a cryptocurrency to place their funds. Experts advise such investors to pay attention to Cardano coins. They are also called ADA.

Cardano is one of the eight most popular cryptos in the world. The cryptocurrency project was launched in 2017 in Japan. The ADA has therefore successfully passed the test of time. Cryptocurrency investors can find the real price of this currency, for example, using the link https://cryptotracker.com/price/cardano. Additionally, it is worth noting that one of the founders of this project was a co-owner of Ethereum previously. Thus, Cardano excels in high reliability and security. But let's look at it in more detail.

Why does ADA have such a name?

The cryptocurrency was named after two well-known scientists. The first is Ada Lovelace. She was an outstanding British mathematician. Ada gained worldwide fame for:

  • the creation of a description of a calculating machine developed by Ch. Babbage;
  • introduction of the terms “work cell” and “cycle”;
  • development of a computer program for the machine designed by Ch. Babbage.

The second scientist is G. Cardano. He was an Italian engineer, mathematician, doctor, astrologer and philosopher. The scientist has published fundamental works on probability theory, algebra, as well as mechanics. His work greatly influenced the development of science.

Which organizations are behind Cardano?

In fact, several companies work together to ensure the platform works properly. But only three of them stand out essentially. These companies are:

  • Input-Output Hong Kong (IOHK). It is engaged in creating technological solutions to make financial services simpler and closer to ordinary people.
  • Emurgo. It is a global initiative that supports startups, developers, as well as businesses in the field of creating blockchain solutions. Emurgo is considered a subsidiary of IOHK.
  • Cardano Foundation. It is a blockchain and cryptocurrency organization. Its mission is to “standardize, build and promote the Cardano protocol”. The company is based in Zug, Switzerland.
  • Each of the specified organizations individually helps ADA. Additionally, these companies participate in various charity campaigns initiated by Cardano.

    Main features of ADA

    Cardano is an open-source and decentralized blockchain project. Developers created the platform to facilitate peer-to-peer transactions between customers. Cardano is built on a layered architecture that simplifies the use of smart contracts. This makes the platform both adaptable and scalable without sacrificing security.

    ADA Technical Parameters

    The total capitalization of the cryptocurrency is around $12.4 billion. Its peak price was almost $3 per coin in September 2021. Other features of ADA are:

    • number of coins in circulation – 33.8 billion coins;
    • total supply – 45 billion coins;
    • daily turnover – almost $302.6 million.

    Cardano can process 257 transactions per second (TPS). The test was carried out in 2017. For comparison, Bitcoin's TPS is 4.6, and Ethereum 1.0 has the same name index of 15-20 TPS. Some experts even believe that ADA could soon become the most popular crypto globally due to such a difference in GST.

    Plan for the development of Cardano

    The ADA Roadmap has been released for everyone. Thus, the creators of the platform have identified the next five eras of the development of this cryptocurrency project:

  • Byron – launch stage of the blockchain platform.
  • Shelley – the era of implementing proof of stake and staking rewards.
  • Goguen – the step of opening up more technical possibilities for creating DApps.
  • Basho – the era of scaling and improving platform compatibility.
  • Voltaire – the stage of transformation of the described cryptographic project into a completely autonomous and decentralized platform.