Ada is a native token of the Cardano network \u2014 one of the oldest projects in the space, founded in 2015 and aiming to overcome the issues plaguing other Level 1 blockchain networks, such as scalability and interoperability while keeping the network just as secure. Its creator is Charles Hoskinson, a co-founder of Ethereum, who had a vision of commercializing blockchain tech, as opposed to keeping it non-profit, which resulted in him leaving Ethereum.Cardano\u2019s stated purpose is to provide the platform for dApp development. While it may not be a unique use case, what sets Cardano apart from similar projects is its technology. Cardano employs a team of highly qualified scientists and boasts peer-reviewed research as a base for all the technological developments in the ecosystem. Cardano is managed by three entities: IOHK, which oversees the technological side, Cardano Foundation, responsible for the platform expansion, and Emurgo, working with entrepreneurs and dApp developers to commercialize the platform.The network is secured using the Proof-of-Stake consensus protocol first developed by academic researchers, called Ouroboros. It allows users to stake their ADA tokens in a mining pool or delegate them to the pools to earn rewards. It\u2019s one of the first PoS solutions, more energy-effective and environmentally friendly than Proof-of-Work. ADA is also used as a currency, enabling transactions within the network.Cardano began 2021 on a strong note, surging above $1.3 in February on the wave of public enthusiasm for crypto. Ada\u2019s price continued to rally in the spring, experiencing an all-time high of $2.46 in May. After the general trend on the crypto market reversed and prices started to fall, Cardano followed suit, and Ada\u2019s price gradually declined. However, by July it still didn\u2019t go below $1, besides, Cardano\u2019s price graph has been following a wide wedge since its latest peak, which\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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