Cardano aims to create a more secure, transparent ecosystem by allowing people to participate in the governance and operation of the network. It is created on the basis of evidence-based methods and uses a PoS protocol named Ouroboros to achieve high security and scalability. The native token, ADA, can be used for transactions, smart contracts, and decentralized apps on the platform.
The blockchain is divided into two layers, CSL and CCL. The CSL layer is responsible for conducting P2P transactions with ADA tokens. The computational layer, on the other hand, is for executing smart contracts. With the splitting, Cardano processes around 1 million transactions/second.
The consensus Cardano uses is drastically different from the PoW consensus of BTC. To create BTC, miners use specialized computers that are needed to create the next block. Cardano, on the other hand, uses staking to verify the transactions. So instead of miners, Cardano has validators. The winner is selected by the network based on the ADA tokens each validator has staked in the pool and is rewarded in ADA.
ADA, the native coin of the platform, was launched in 2017 after a public sale that had begun in 2015. A total of around 25 billion ADA tokens were sold.
Now if you ask, "How much is one cardano?" The answer would be $0.3755 as of early June 2023. The current cardano price is the result of quite a roller coaster ride. The market cap of cardano, on the other hand, is $13,090,535,017.Price of cardano
When it comes to determining cardano value, there are a lot of things that play a role in it.