A decade ago, the world was not completely familiar with an idea of a virtual currency. Here we are today with countless cryptocurrencies dominating the global market. While crypto users are well aware that Bitcoin and Ethereum are the two largest blockchains, Cardano (ADA) takes the third spot. However, many crypto users are still unaware of why Cardano gained massive popularity in a shorter time period. Here, we will try to elaborate on how Cardano (ADA) is the center of attention for crypto users as well as analysts. Let’s first have a look at what is the concept behind it.
Cardano (ADA) – A Brief Picture Of The Idea
Cardano (ADA) is basically a third-generation decentralized proof-of-stake (PoS) blockchain platform. This vast spread network surfaced for the first time back in 2015. The key objectives behind the launch of ADA are to create a flexible, scalable, and sustainable virtual environment to ensure the smooth operation of smart contracts. It is worth mentioning that Cardano is among the top cryptocurrencies by market cap today.
How Is ADA Unique?
If you have ever wondered how is ADA unique from BTC or ETH, we have got you covered with a simple answer to your question. Cardano (ADA) came into being to offer the most environmentally sustainable blockchain platform across the globe. How? Bitcoin and Ethereum operate on a proof-of-work (PoW) consensus mechanism. The PoW consensus requires a lot of computational energy to ensure the smooth flow of the transactions.
On the other hand, Cardano’s PoS consensus uses validators who stake their own crypto to bet on the blocks. These blocks are added to the next chain.
Cardano (ADA) Price Details
Here, we have listed the accurate price of Cardano as of today with maximum high and low range.
ADA Opening Price Today = $1.5220
24-Hour High = $1.5418
24-Hour Low = $1.4974