What is ADA
Cardano (ADA) is a decentralized third-generation Proof-of-Stake (PoS) blockchain platform with native token ADA named after Ada Lovelace, the 19th-century mathematician recognized as the first computer programmer. Cardano was created by blockchain development firm IOHK and led by Charles Hoskinson, a former co-founder of Ethereum. Cardano utilizes an Ouroboros PoS algorithm and was constructed using pure functions in the functional programming language Haskell. Every ADA token holder is also a stake holder in the Cardano blockchain network with option to delegate ADA stored in user wallets to the Cardano stake pool and earn rewards for their participation in helping run the network successfully. ADA can be used for a variety of applications and services on the Cardano platform, including Daedalus full-node desktop wallet. In the future Cardano will focus on building a decentralized stake pool operator (SPO) ecosystem, giving the power to validate blocks and transactions to stake pool operators while enhancing the flow of information between nodes and managing connections using Peer-to-Peer (P2P) governor integration.
