Understanding Cardano
Cardano, abbreviated ADA, was first launched in 2017. Like many other cryptocurrencies, ADA is generated through the process of crypto mining. The Cardano blockchain platform's goal is to be a decentralized application (DApp) development platform for smart contracts and multi-asset ledgers. As a cryptocurrency, ADA runs on the Cardano blockchain, which is a separate blockchain than others like the Ethereum blockchain or the Bitcoin blockchain.
Cardano operates as a proof-of-stake protocol and the development of the protocol, blockchain, and cryptocurrency is overseen by The Cardano Foundation, IOHK, and EMURGO.
Currently, ADA trades on roughly 413 active markets.
