Cardano /ADA

What is Cardano (ADA)?

Cardano (ADA) is a decentralized proof-of-stake blockchain focusing mainly on security, data storage, and speed. It utilizes smart contracts to automatically execute transactions when predetermined terms and conditions are met, enabling efficient peer-to-peer interactions.

Cardano’s Mainnet was launched on September 17, 2017, by Charles Hoskinson, an American Entrepreneur and co-founder of the Ethereum network. 

ADA is the native cryptocurrency of the Cardano blockchain, named after Augusta Ada King, also known as “ADA Lovelace”, an English mathematician recognized as one of the first computer programmers. In this system, the smallest unit of Ada is called a Lovelace, (1 Ada=1,000,000 Lovelace) emphasizing a strong connection to both mathematical history and innovative technology. ADA is used to pay the transaction fees on the platform.

How does Cardano(ADA) work?

Cardano blockchain uses the Proof of Stake consensus mechanism called “Ouroboros”, which allows validators or stake pool operators to create new blocks based on the amount of ADA they hold and are willing to stake, making it more productive than the traditional Proof of Work mechanism. 

Time in Cardano is divided into epochs (each lasting about 5 days) and slots (a few seconds each). During each slot, a block can be created if a validator is chosen. 

A slot leader (the chosen validator for that slot) is determined based on a random selection process influenced by the amount of ADA staked. When the validator is selected as a slot leader, they create a new block containing valid transactions and broadcast this block to the network, other validators and nodes verify the new block, ensuring that it adheres to the network’s rules. 

Once the block is verified by other nodes, it is added to the blockchain and validators receive rewards “ADA” for creating new blocks and rewards are distributed based on the amount of ADA staked and performance of stake pool.

Cardano’s Notable Use Cases:

• IOHK, Emurgo, and Cadarno Foundation are responsible for developing blockchain, commercial applications, and promotion.

• In 2018, Cardano was being used in the coffee supply chain in Ethiopia.

• In 2019, Use of Cardano in decentralized software to develop a credential verification system in Georiga.

• To track the authenticity of OMN1S Kawhi Leonard basketball shoes Cardano was adopted.

• Use of Cardano to keep the record and identity of school pupils in Ethiopia in April 2021.

• In May 2021, Cardano to reach the fourth highest in cryptocurrency due to its $77 billion market capitalization.

• To release DJ Paul Oakenfold's album” Zombie Lobster” on Cardano blockchain.

• The total supply is 45 billion of ADA, currently 35.1 billion are in circulation as of 2024... 

Cardano Price/ ADA Price History:

• Cardano’s initial presale of $62.2 million with a price of $ 0.0024/ADA in September 2017, was further listed on Binance with a price of $0.02 in November 2017.

• The all-time high price was $3.10 on Sept 2, 2021, and the all-time low price of $0.019 was observed on March 13, 2020.

• To convert ADA to INR and ADA-USD/BTC/ETH/BRL/EUR/GBP, you can check https://markets.coinpedia.org/cardano/ calculator.

Cardano (ADA) Price Prediction : 

• According to Coinpedia, Cardano's price prediction in 2025 is expected to vary between a potential low of $1.81 and a high of $2.42, an average value of $2.115.

• In 2026, the ADA price ranges between $2.76 to $3.30, and the average price is projected to be $3.03.

• In 2027, Cardano’s price could span from $4.56 to $5.03, with an average of $4.79. 

• By 2028, the ADA price or Cardano ADA prediction would fall between $5.29 and $5.73, the average price is expected to be about $5.51.

• The average ADA price is estimated at around $7.235, with a potential low of $6.68 and a high of $7.79 by 2029.

• Cardano's price prediction in 2030 indicates an average price of $9.72. The asset may vary between a potential low of $9.12 and a high of $10.32. 

Where Can I Buy Cardano (ADA)?

Centralized Exchanges (CEXs): About 15+ centralized exchanges support Cardano which helps users to trade, buy, and sell cryptocurrencies such as Kucoin, Coinbase Pro, Binance, Bitmart, BingX, and Gate.io.

Decentralized Exchanges (DEXs): Nearly 10+ Decentralized exchanges support ADA, a few popular are listed as Minswap, Cardano Dex, Muesli Swap, and Sundae Swap.

Wallets Supported For ADA(Cardano) Coins?

Hardware Wallet: Supports storage of ADA using storage devices like Ledger Nano X, Ledger Nano X Plus, and Safe Pal. 

Software Wallets: These are software-based applications that help you store data on a computer’s hardware mainly top popular include Daedalus, AdaLite, Guarda, Tangem, and Coin Wallet.