Don’t fret. We’ve compiled an FAQ for you below—dive in and explore.
Cardano is an open-sourced, public, and decentralized blockchain platform. It is a smart contract platform and facilitates peer-to-peer transactions with ADA – its native token. Cardano is well-known for its research-first approach.
The Cardano tokens are also called ADA, named after Augusta Ada King, Countess of Lovelace. She was an English mathematician and writer, famous for working with Charles Babbage’s Analytical Engine. One can use ADA for conducting transactions and staking in the ecosystem.
You can store ADA tokens in your CoinSmart account.
Cardano uses the Ouroboros consensus mechanism. It has been peer-reviewed by researchers from the University of Edinburgh, Tokyo University, and other institutions. Read up more on Ouroboros here.
Shelley is one of the five stages in Cardano’s development. The five stages in Cardano’s blockchain development are – Byron, Shelley, Goguen, Basho, and Voltaire. As of now, we are in the Basho stage.
Cardano was launched in September 2017 by Ethereum co-founder Charles Hoskinson. Hoskinson also founded IOHK – an R&D company using blockchain technology to make finance more accessible.