|Market Cap||$15,672,973,118 USD|
|24h Volume||$593,204,384 USD (-0.64%)|
|Circulating Supply||35,317,794,356 ADA|
|Total Supply||36,424,942,625 ADA|
Cardano Price Chart
What Is Cardano's Price Today?
Cardano (ADA) is trading at $0.44377 USD, decreasing by -0.64% since yesterday. Cardano has traded $593,204,384 USD in the last 24 hours.
Cardano (ADA) is the #8 largest cryptocurrency by market cap as of December 07, 2023, with a market cap of $15,672,973,118 USD.
What Is Cardano Cryptocurrency (ADA)?
Cardano (ADA) is one of the leading contenders in the smart contract wars. While has a and a higher daily trading volume, the Cardano market cap has slowly been growing as it moves back towards a top ten spot.
What sets Cardano apart from other coins is the team’s approach to development. Whereas and have volunteer developers and community run development, Cardano seeks to make the development process scientific.
In practice what that means is that before changes are made to Cardano the code is peer-reviewed by expert programmers and scientists. The hope is that by having industry experts review the code all major bugs can be avoided.
Charles Hoskinson, Cardano’s founder, is very intelligent himself. He in numbers theory and although he didn’t receive his degree he claims that he’ll complete it after he retires.
Interestingly, Cardano is not the first crypto project that Hoskinson has worked on. He also helped to before splitting from the project over ideological differences.
Hoping to move smart contracts toward mass adoption, Cardano was one of the first cryptocurrencies to introduce an easy to learn programming language.
In Cardano’s case the language and it promises to simplify the process of writing a smart contract. Hoping to get more people to use their platform, Cardano has even set up to teach people how to create contracts.
Initiatives like these should get more people using crypto. That’s good news for investors as the more people there are using Cardano, the higher the price of Cardano will go.
How Does Cardano Work?
The Cardano team believes that Proof of Work is inefficient and that Proof of Stake (POS) is the best possible consensus mechanism. They call their POS system Ouroboros and unlike Ethereum’s POS protocol, Cardano’s is scientifically validated and peer-reviewed.
The exact mechanics of the Ouroboros protocol are too complex to discuss in this short introduction to Cardano. However, a great guide can .
It will be interesting to see whether staking has an affect on the Cardano price. Since staking requires coins to be locked up those coins are effectively taken out of supply which might lead to a ADA price increase.
In terms of development the Cardano team believes that the best way to create an awesome cryptocurrency, and subsequently increase the Cardano price, is to adopt the best features of other coins. That means taking the best features from , , , etc. And bringing them to Cardano.
Such an approach might prove to boost the ADA/USD exchange rate in the future as Cardano’s price rises. The more features a blockchain has, the better the change that it has of being adopted. It looks like Cardano is already well on its way to reaching that point.
How Many Cardano Coins Are There?
There are currently 35,317,794,356 Cardano coins circulating out of a max supply of 45,000,000,000.