What is Cardano (Ada)?

The Cardano platform can handle all kinds of transactions, but the real goal is to become the “Internet of Blockchains,” creating an ecosystem that allows seamless interchangeability between different blockchains. Let’s look at how Cardano (ADA) stacks up against the other major cryptocurrency players. What Is Cardano?

What is adaada (Ada)?

ADA is a Cardano utility token that is used as a medium of exchange. By integrating the distributed ledger technology and the smart contract infrastructure, the Cardano Blockchain ics created as a twin of Ethereum.

How is Cardano’s Ada currency mined?

Cardano’s ADA currency isn’t mined like Bitcoin. Instead of miners there are validators, which are chosen by the network depending on how much ADA currency they currently own. If they’re selected to validate the transactions on the block, they place a bet on how confident they are on being able to verify all the transactions.

What is ADA cryptocurrency?

The ADA cryptocurrency runs on the cardano blockchain, a first-of-its-kind decentralized network, based completely on scientific and mathematical principles and designed by experts in the fields of cryptography and engineering. The cardano blockchain can be used to build smart contracts, and in turn, create decentralized applications and protocols.