Cardano will unlock 18,530,000 ADA tokens on December 6th, which represents approximately 0.05% of the current circulating supply.
ADA information
Cardano ADAUSD is a public blockchain platform for smart contracts, similar to Ethereum. It was launched in 2017 and was developed by Ethereum co-founder Charles Hoskinson. The Cardano project is known for its emphasis on a research-driven approach and was the first blockchain platform to evolve from a scientific philosophy and research-driven approach.
Cardano blockchain works in a unique way. It uses a new proof-of-stake algorithm known as Ouroboros. Unlike Proof-of-Work blockchains that rely on miners to verify transactions and create new blocks, the Ouroboros algorithm selects nodes (stakeholders) to generate new blocks based on the percentage of cryptocurrency held by the stakeholder. I will. This increases the scalability of the Cardano network.
Cardano's ADA tokens are used not only for transactions within the network, but also as a way for network participants to vote on changes to the platform. This is designed to ensure that owners participate in the operation of the network. Therefore, those who hold cryptocurrencies have the right to vote on proposed changes to the software.
One of Cardano's most distinctive features is its layered architecture, which includes Cardano Settlement Layer (CSL) and Cardano Computation Layer (CCL). CSL manages the cryptocurrency ADA and processes transactions. CCL, on the other hand, is responsible for smart contracts and computation. This separation improves network security, flexibility, and simplicity in smart contract design.
In conclusion, Cardano is an innovative blockchain platform “designed to be secure, scalable, and sustainable.” It is unique in the cryptocurrency world because of its science-based approach, layered architecture, and focus on stakeholder voting.
