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What Is Cardano and Why Is Everyone Talking About It

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When you venture into cryptocurrency for the first time, you would have learnt about Bitcoin and Ethereum being the top dogs in the cryptosphere. Let us introduce you to a lesser-known, but nonetheless highly speculated coin, Cardano.

About Cardano

Cardano is one of the top ten biggest cryptocurrencies by market cap. It was initially founded by Charles Hoskinson, one of Ethereum’s co-founders back in 2017, but to compare either with each other would be unfair. Hailed as the third-generation cryptocurrency and the third-biggest blockchain, it is designed to be flexible, robust, sustainable, scalable, and ultra-secure.

In essence, it’s a blockchain powerhouse, perfect for running smart contracts and paving the way for an array of decentralised finance apps, new crypto tokens, games, and more. Think of it as Ethereum 2.0 but upgraded.

The Journey and Values

Cardano has come a long way, from a humble start without smart contracts or staking to its current enviable position in the market. Unlike some projects, Cardano’s creators are committed to the long game, prioritising fundamental development over quick cash grabs. In a world where many chase the hottest trends, Cardano stands as a beacon of long-term value.

How Does It Work

Cardano is not just your average blockchain; ADA, its native token, fuels its magnificent journey. Picture Cardano as a dynamic railway track, expanding with every node and transaction added. The tokens are the fuels and goods used in transport. What really keeps things straight and running in motion are the smart contracts. Smart contracts are like the conductor’s routes of the crypto world, executing actions without the need for meddlesome third parties. They’re open source, transparent, and utterly immutable, meaning no one can tinker with them, ensuring a level playing field for everyone.

Cardano’s Key Features

Eco-Friendly Energy Efficiency

In the world of cryptocurrencies, energy consumption is a hot topic, and Cardano’s developers tackle it head-on with its cutting-edge consensus system, Ouroboros. This system is a lean, mean, energy-saving machine, guzzling 99% less energy than most other blockchains. While Bitcoin’s energy-hungry Proof of Work Consensus has the planet sweating, Cardano’s commitment to sustainability is a breath of fresh air.

Lower Transaction Fees

Faster transactions and higher rates spell lower transaction fees. Cardano’s fee structure is no one-trick pony; it’s as flexible as a gymnast and can adapt to changing market conditions, ensuring it remains competitive in the future. Its fees grow and fluctuate with its average Transaction Per Second (TPS), its size and the costs of running the node.

Future-Proof Scalability

Cardano may have started with a TPS of 250, but thanks to Hydra, it’s now a speed demon capable of processing over 1,000 TPS. With over a whopping 3,000 staking pools, theoretically Cardano could churn out more than 3 million transactions per second, leaving other cryptocurrencies in the dust. For comparison, Visa can process 1,700 TPS and Ethereum is at 10-15 TPS.


Cardano’s price may be a wild ride due to a lack of support from major stablecoin issuers, but this trait ensures it remains free from centralised influence. With lesser major centralised stablecoins influencing its value and liquidity rates, this leaves Cardano truly decentralised.

Decentralised and Democratic

ADA holders also wield the power of governance, allowing them to shape the network’s future. It is the epitome of decentralisation and democracy. That’s what decentralisation is all about. Everyone with a part in it has a say in it. They even have an innovation fund for Cardano’s Community called Project Catalyst to propose ideas and improvements to the network.

What Are Native Tokens for Cardano?

Cardano made native tokens available in March 2021, but these tokens operate differently from Ethereum-based ones. They leverage Cardano’s infrastructure, offering enhanced security and lower transaction costs. Holders of Cardano’s native assets are considered top-tier citizens in the Cardano ecosystem with their voting power on the blockchain.

What is ADA?

ADA, named after Ada Lovelace, the 19th-century mathematician and the “world’s first computer programmer,” is Cardano’s native cryptocurrency. It operates on the energy-efficient Ouroboros system, combining security, speed, and sustainability.

ADA’s Key Functions

Store of Value: Like any other cryptocurrency, ADA is a valuable asset for speculators.

Trading: Traders use ADA for transactions and gas fees on the Cardano blockchain, much like ETH’s role on Ethereum. Holders can also earn interest or engage in financial actions.

Native Governance Token: ADA enables holders to vote on changes and future updates to the Cardano blockchain.

Staking: ADA’s popularity soars as users stake it to bolster network security and stability, earning rewards in the process.

Market Sentiment on ADA

ADA’s value might have been a rollercoaster with its prices soaring to USD 1.01 in January 2018 and diving to USD 0.085 in October of the same year. Even so, that did not stop Cardano’s growth together with faith and optimism that its supporters are rooting for it.

With the dedication its research team pours into Cardano, speculators and analysts are urging investors to not sleep on this high potential opportunity.

Cardano’s Growth

Despite a turbulent market, Cardano’s vision extends beyond short-term gains. Its focus on building a truly decentralised system and government sets it apart, leading to many speculators and analysts optimistic about its future growth. The growing number of new wallets on the platform, with over 22,000 new staking addresses added on average monthly for 13 months, suggests a bright future.

Getting Your Hands on ADA

If you’re hyped up and raring to get your hands on ADA, it’s readily available for exchange and purchase at Use ADA like any other cryptocurrency for storing value, making payments, staking, and voting for the blockchain’s future.

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