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Blockchain

What is ADA coin used for?

How the ADA coin is used in Cardano. Cardano is a proof of stake blockchain providing scalability, interoperability and sustainability.

What is ADA coin?

ADA is the native coin of the Cardano blockchain.

What is ADA coin used for?

  • Fees on the network
  • Stake to validate transactions
  • Delegate to validators

What is Cardano?

Cardano is a 3rd generation proof of stake blockchain using Ouroboros consensus. It aims to provide scalability, sustainability and interoperability.

How does Cardano work?

Cardano proof of stake where token holders can operate a stake pool to produce blocks and validate transactions.

Blocks are divided into epochs and slots.

And who gets to produce a block is determined by randomization and amount of stake.

  • Larger stake equals higher chance.
  • Block producer is rewarded with ADA as incentive.

Tokenholders

  • Can delegate their ADA to stake pools.
  • Earn staking rewards.
  • Switch their delegating at any time.

FISO (Fair initial stake pool offering)

With a lot of new projects launching on Cardano users can delegate to their respective stake pools.

Users are rewarded with the projects’ tokens instead of ADA or sometimes both.

Some current and upcoming FISOs

  • Minswap
  • Sundaeswap
  • OccamFi
  • Meld Finance

ADA tokenomics

Total supply: 45 000 000 000

Token distribution:

  • IOHK – 2,463,071,701
  • Cardano Foundation – 648,176,761
  • Emurgo – 2,074,165,644
  • Public sale –  25,927,070,538

Total staked: currently 25B

ADA ICO Price:  $0.0024

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