What is Cardano (ADA)?

Cardano is a blockchain platform that claims to aim to empower “changemakers, innovators and visionaries” to bring about positive global change.

Cardano was founded back in 2017 and named after the 16th-century Italian polymath Gerolamo Cardano. The native ADA token takes its name from the 19th century mathematician Ada Lovelace, widely considered to be the world's first female computer programmer. The ADA token is designed to ensure that owners can participate in the operation of the network. For this reason, cryptocurrency holders have the right to vote on any proposed changes to the software.

Who are the founders of Cardano?

Cardano was founded by Charles Hoskinson, who was also one of the co-founders of the Ethereum network. He is the CEO of IOHK, the company that built Cardano's blockchain.

In an interview with CoinMarketCap's Crypto Titans series, Hoskinson said he got involved in cryptocurrencies back in 2011 – dabbling in mining and trading. He explained that his first professional involvement in the industry came in 2013 when he created a course on Bitcoin that ended up being taken by 80,000 students.

What makes Cardano unique?

Cardano is one of the largest blockchains that successfully uses a proof-of-stake consensus mechanism that is less energy intensive than the proof-of-work algorithm that Bitcoin relies on. Although the much larger Ethereum will upgrade to PoS, this transition will only happen gradually.

The project prides itself on ensuring that all technology developed goes through a peer-reviewed research process, meaning bold ideas can be challenged before they are validated. According to the Cardano team, this academic rigor helps the blockchain to be resilient and stable – increasing the chance that potential pitfalls can be predicted in advance.