What is Cardano (ADA)?
ADA is the native currency of Cardano, a blockchain whose development was led by Charles Hoskinson's company Input Output (IOHK) together with the Cardano Foundation and Emurgo. The network went live in September 2017, and the project is known for grounding its design in peer-reviewed academic research.
- Type
- Layer-1 smart contract platform
- Launched
- 2017
- Consensus
- Proof of Stake (Ouroboros)
- Max supply
- 45 billion ADA
- Swap network
- Cardano
- Sector (Messari)
- Smart Contract Platform
How Cardano works
Cardano is secured by Ouroboros, a Proof of Stake protocol that divides time into epochs and slots and picks block producers in proportion to delegated stake. Holders can delegate ADA to stake pools without locking it up, and the chain uses an extended UTXO model that supports smart contracts.
What ADA is used for
ADA pays transaction fees and is delegated to stake pools to earn rewards and help secure the network. Holders also vote on treasury spending and protocol changes through Cardano's on-chain governance system.
ADA supply
ADA has a hard cap of 45 billion tokens. Tokens not yet in circulation sit in a reserve that is gradually released as staking rewards and treasury funding.
Before you swap ADA
Current Cardano addresses typically start with addr1, and a wallet can have many valid receiving addresses, so copy the one your wallet shows. Very small ADA amounts may be rejected because every Cardano output must carry a minimum amount of ADA.