Cardano (ADA): what you need to knowCardano (ADA): what you need to know

Cardano is an open-source blockchain platform designed to support smart contracts and decentralised applications (dApps). Cardano's native cryptocurrency is called ADA, named after the mathematician Ada Lovelace. The project was founded in 2015 by Charles Hoskinson, one of the co-founders of Ethereum, and launched in 2017.

Whitepaper: https://www.lcx.com/ada-mica-white-paper/

Cardano uses a Proof-of-Stake (PoS) consensus mechanism called Ouroboros. Unlike the energy-intensive Proof-of-Work (PoW) system, where miners compete for blocks, PoS selects validators based on the number of tokens they own and are willing to put up as collateral. This makes Cardano more energy-efficient.

• Ticker: ADA

• Category: Utility Token

• Blockchain: Cardano

• Protocol: Proof of Stake (Ouroboros)

• Year of launch: 2017

Cardano is based on peer-reviewed scientific research and best practices from cryptography and blockchain technology. The platform has a layered architecture with separate layers for payments and smart contracts, providing additional flexibility and security.

The Cardano ecosystem consists of three organisations: IOHK (Input Output Hong Kong), which carries out the research and development; the Cardano Foundation, focused on standardisation and regulation; and Emurgo, which promotes commercial applications. The network is supported by stake pools and a growing community of developers.

Cardano was founded by Charles Hoskinson, Jeremy Wood and others. Hoskinson was previously involved with Ethereum as a co-founder and CTO. He founded IOHK to build Cardano using scientific research and formal verification.

BTC Direct has been the European entry point to crypto since 2013. We make buying Cardano straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, SEPA bank transfer, credit card, PayPal or Apple Pay. Your ADA is on its way within minutes.

• Your coins, your control. We do not store your ADA. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum varies per coin.

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More questions about Cardano or BTC Direct? Visit our help center for more answers.

For more technical information about Cardano, see the official documentation.

Cryptocurrencies, including Cardano (ADA), are volatile and carry risks. The value of ADA can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

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