Founded in 2016, Cardano’s development was led by former Ethereum co-founder Charles Hoskinson and is the first cryptoasset based on peer-reviewed research. Cardano is unique as it is a proof-of-stake blockchain platform that claim to be ‘the most environmentally sustainable” cryptoasset on the market today. From their headquarters in Zug, Switzerland, they work towards their core mission of standardising, protecting and promoting the Cardano Protocol technology.
This cryptoasset uses a consensus protocol called Ouroboros, which they use to validate transactions without the high energy output common in many other cryptoassets. Cardano’s developers created its architecture in a way that makes the implementation of new changes such as soft forks easier than other cryptocurrencies. Their currency, ADA, is named after the 19th Century mathematician Ada Lovelace. As of August 2021, there are over 32 million ADA coins in circulation, with a total supply of 45 million.
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