Cardano (ADA) Will Unlock 18,530,000 Tokens on December 21st

Cardano ADAUSD is a public blockchain platform for smart contracts, similar to Ethereum. Launched in 2017, it was developed by Ethereum co-founder Charles Hoskinson.

Cardano (ADA) will unlock 18,530,000 ADA tokens on December 21st, which is roughly 0.05% of the total circulating supply.

According to ADA Info, the tokens will be released from the Cardano treasury as part of the network's operating costs. The platform's native token is used to pay transaction fees, participate in network governance, and power decentralized applications (dApps) built on Cardano.

Cardano is a public blockchain platform for smart contracts, founded in 2017 by Ethereum co-founder Charles Hoskinson. The project is known for its research-driven approach, being the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach.

The platform uses a unique proof-of-stake algorithm called Ouroboros, which differs from proof-of-work blockchains that rely on miners to verify transactions and create new blocks. Instead, the Ouroboros algorithm selects a node (stakeholder) to generate a new block based on the proportion of cryptocurrency that stakeholder holds, enabling high scalability for the Cardano network.

The ADA token is used not only for transactions within the network but also as a way for network participants to vote on changes to the platform. This design ensures that owners can participate in the operation of the network, with the ability to vote on any proposed changes to the software.

One of the key features that distinguishes Cardano is its layered architecture, which includes the Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL). The CSL handles transactions and manages the cryptocurrency ADA, while the CCL is responsible for computation and smart contracts. This separation enhances network security, provides flexibility, and simplifies the design of smart contracts.