What is Cardano (ADA) ?
Cardano is a Crypto currency founded by Charles Hoskinson whom is also the cofounder of Ethereum. The Cardano protocol was created to address issues of previous versions to improve scalability, transaction speed and decentralization with low fees and energy consumption.
Cardano operates on two layers, The Cardano Sediment Layer (CSL) and the Cardano Computing Layer (CCL). ADA is the native token of Cardano and is named after Ada Lovelace, a 19th century mathematician known as the first computer programer. Cardano is a blockchain platform that is used to send and receive digital funds.
Cardano is also know as the Japanese Ethereum as 95% of the participants of the ADA initial coin offering (ICO) were Japanese. Cardano is also the first peer reviewed blockchain and is claimed to be the most sustainable blockchain ever created while still maintaining the highest levels of security. Instead of using proof of work technology like bitcoin, Cardano uses Proof of Stake which allows for much more scalability and is less resource intensive.
With the launch of Cardano’s Shelley network, users can now stake their ADA with stake pools such as Citrus Pool.,