AboutCardano (ADA) is a crypto asset and blockchain platform launched in 2017. As a platform, Cardano’s goal is to be as environmentally sustainable as possible by using a proof-of-stake (PoS) system, which requires less processing power than the alternative proof-of-work models. Like Bitcoin, transactions are settled on Cardano’s first layer, and smart contracts are executed on Cardano’s second layer, which is similar to Ethereum. ADA is Cardano’s native token; it’s used both to pay transaction fees and to allow users to participate in Cardano’s PoS.
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