ADA is a third-generation, decentralized proof-of-stake (PoS) blockchain platform designed to be a more efficient alternative to proof-of-work (PoW) networks like Bitcoin and Ethereum. ADA cryptocurrency runs on the Cardano blockchain, which is based completely on scientific and mathematical principles. It was designed by experts in the fields of cryptography and engineering.
Market cap$0 0.00%
Circulating supply0 ADA
Cardano’s mission is to provide a blockchain platform for changemakers, innovators, and visionaries. Their goal is to provide the tools and technologies required to create possibilities for the many, as well as the few, and bring about positive global change. They are committed to establishing a transparent and decentralized platform that is impartial and unbiased. To do this, they are committed to ensuring that robust governance, standards, and ethics exist and are upheld.
Charles Hoskinson, the mathematician and co-founder of Ethereum, began the development of Cardano in 2015 and launched the platform in 2017. Oversight of the advancement of Cardano is decentralized and responsibilities are shared by Cardano's three partners: The Cardano Foundation, IOHK, and EMURGO.
Driving adoption of Cardano, shaping Legislation and Commercial Standards. Growing the Global Cardano Community.
Founded in 2015, IOHK is one of the world’s pre-eminent blockchain research and engineering companies, best known for the Cardano blockchain platform. They are a fully decentralized, remote-working organization committed to the highest principles of academic rigour and evidence-based software development. The company builds high-assurance blockchain products for public and private sector clients. IOHK’s goal is simple – to fuel their drive to be best in class by giving the community the opportunity, resources and support to deliver their finest work to date. There are some exceptionally talented and friendly individuals who are always open to new ideas and ways of working. IOHK is an advocate of decentralized remote working, with over 300 people working in more than 50 countries. Everyone has a different skill set, a different culture, and is at a different stage in their life. We aim to make collaboration between diverse people fun, exciting, and always rewarding. Many companies say they ‘think outside the box’ – for IOHK it’s more, ‘we think outside the geography
EMURGO specializes in developing software solutions utilizing blockchain, IoT, and AI, and other emerging technologies.
ADA has numerous use cases, among which is the ability to book over 3,000,000 travel products on Travala.com, including hotels, homes, flights, and activities. With accommodation in over 230 countries and territories, 600+ airlines, and more than 400,000 activities, Travala.com’s selection provides travelers with extensive choice when booking with ADA.
Travala.com’s intuitive booking experience is designed to be familiar and simple to navigate. Travellers simply choose their desired travel product(s), enter their details, and select from the variety of available payment options, including traditional credit and debit cards, AVA, and 90+ other cryptocurrencies.
The use cases of ADA extend beyond the Travala.com platform.
The use cases of ADA extend beyond the Travala.com platform.
As the biggest proof-of-stake blockchain, ADA can be traded on the most widely used cryptocurrency trading platforms. The third generation crypto utilizes new developments such as layered architecture to improve scalability, security, and sustainability. This rectifies some of the inefficiencies of previous blockchains like Bitcoin and Ethereum.
Cardano, as a proof-of-stake blockchain, works by having certain “validators” put up a stake of their cryptocurrency to attest to the validity of a block in the blockchain. Through this staking system, validators help secure the network and earn rewards in the process.
Cardano offers smart contracts, an automated digital agreement written in code, that tracks, verifies, and executes the binding transactions of a contract between various parties. They are stored on, and distributed across, a decentralised blockchain network, making it transparent and irreversible.
Through smart contracts, ADA can be exchanged for ADA-based assets. Non-fungible tokens (NFTs) represent ownership of a unique item such as a digital artwork or collectible. ADA’s smart contracts can ensure that the exchange of NFTs for cryptocurrency can occur securely. The system also ensures that creation and ownership is verifiable and each token is minted with a unique identifier. Although not the first crypto to offer NFT trading, ADA typically has far smaller fees than coins like Ethereum.
Visit Travala.com and search for a hotel, home, flight, or other travel product by entering your destination and dates.
Select your desired choice from the available options.
Enter the required traveller details.
Select Crypto as your payment method, then select ADA.
Click Complete Reservation. In your ADA wallet, input the generated address by scanning the provided QR code or by copying the text. Ensure that the exact ADA amount is entered and send the payment.
Click Payment sent. Your transaction will be processed, and you will receive a confirmation email once your voucher or e-ticket is available.
Store your ADA securely with the following wallets:
Both platforms are used for similar applications, such as smart contracts, and have goals of building a connected and decentralized system. However, Cardano and Ethereum attempt to achieve these goals through different blockchains.
Ethereum’s Proof-of-Work blockchain has a network of miners that computes complex calculations to keep the blockchain running. As a result, an Ether - Etherum’s cryptocurrency - is worth a certain amount of computing power. Ethereum’s scalability, interoperability, and sustainability are limited by the infrastructure burden of growing costs, energy use, and slow transaction times.
Comparatively, a Proof-of-Stake consensus replaces miners with validators. Proof-Of-Stake mining requires a lot less energy and fewer resources. Cardano only requires a small number of Ada holders to be online and to maintain good network connectivity. This has the added benefit of transactions being validated quickly and cheaply.