What is ADA coin? Introduction to the issue price, total amount and white paper of ADA coins

Cardano (ADA), a proof-of-stake cryptocurrency, offers scalability, security, and smart contract support through its multi-layer architecture and Ouroboros consensus algorithm.

Oct 10, 2024 at 02:30 pm

1. What is ADA Coin?

ADA coin, also known as Cardano, is the native cryptocurrency of the Cardano blockchain platform. It is designed to be a highly scalable, secure, and energy-efficient blockchain platform that supports smart contracts and decentralized applications.

2. Issue Price and Total Amount

The ADA coin was initially issued in 2017 through an Initial Coin Offering (ICO). The initial issue price was 0.025 USD per ADA. The total supply of ADA coins is 45,000,000,000, with a circulating supply of around 33.95 billion ADA as of August 2023.

3. White Paper

The Cardano white paper was released in 2017 and outlines the technical vision and goals of the Cardano platform. The white paper was written by Charles Hoskinson, one of the co-founders of Ethereum, and other cryptographers and blockchain experts.

4. White Paper Summary

The Cardano white paper presents a detailed overview of the following aspects of the platform:

• Consensus Mechanism: Cardano uses the Ouroboros Proof-of-Stake (PoS) consensus algorithm, which is designed to be secure, energy-efficient, and scalable.
• Smart Contract Functionality: Cardano supports smart contracts and decentralized applications (dApps) through the Plutus programming language.
• Multi-Layer Architecture: Cardano has a multi-layer architecture, with the Cardano Settlement Layer (CSL) responsible for handling transactions and the Cardano Computation Layer (CCL) responsible for smart contract execution.
• Governance Model: The Cardano platform features a decentralized governance model, where stakeholders can participate in decision-making through voting.
• Future Developments: The white paper outlines the future development plans for Cardano, including the implementation of sidechains, scalability enhancements, and interoperability with other blockchains.