FAQ
Cardano is a blockchain platform for smart contracts and decentralized apps, built using academic research. ADA is its cryptocurrency, used for payments, staking, and governance.
Charles Hoskinson, a co-founder of Ethereum, created Cardano. It launched in 2017 after years of academic research and development.
ADA is used to pay transaction fees, stake to earn rewards, vote on governance proposals, and interact with smart contracts and dApps on the Cardano network.
Cardano uses a two-layer architecture (separating transactions from smart contracts), was built on peer-reviewed research from day one, and used Proof of Stake before Ethereum’s transition. It also has a fixed supply cap of 45 billion ADA.
Ouroboros is Cardano’s Proof of Stake consensus mechanism. ADA holders stake their coins for a chance to validate transactions and earn rewards. It is energy-efficient and backed by peer-reviewed cryptographic research.
Cardano has strong fundamentals and is a top-10 cryptocurrency by market cap. Like all crypto, it is speculative and volatile. Always do your own research before investing.
Plutus is the programming language used to write smart contracts on Cardano. It is designed for security and precision, reducing the risk of costly bugs.
You can buy ADA at any Localcoin ATM — no account required, just cash and guided prompts. Find one near you using the Localcoin ATM locator.