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Cardano (ADA) is a blockchain platform that aims to provide a more balanced and sustainable ecosystem for cryptocurrencies. It is developed by one of the co-founders of Ethereum, Charles Hoskinson. It emphasizes a strong emphasis on research and development and adopts a scientific philosophy and a research-first approach. The project is named after Gerolamo Cardano, a Renaissance mathematician, while its cryptocurrency unit, ADA, is named after Ada Lovelace, a 19th-century mathematician. Currently, Cardano’s price in CAD is around $0.78.
Cardano’s consensus mechanism is known as Ouroboros, a highly secure proof-of-stake protocol. Unlike the proof-of-work model used by Bitcoin, proof-of-stake allows for more energy-efficient transaction validation and security. In Cardano’s model, ADA holders can stake their coins in the network as a form of validation power and earn rewards.
With the launch of the Alonzo upgrade, Cardano introduced smart contract functionality. This allows developers to build decentralized applications (dApps) on its blockchain. This move positions Cardano as a direct competitor to Ethereum and other smart contract platforms and also offers more scalable and energy-efficient options.
Cardano's adoption in Canada reflects broader trends in the global cryptocurrency space, with specific nuances to the Canadian context. If you are interested in buying Cardano, Maple Investments is a leading choice. It offers several crypt-centric services including live Cardano prices in CAD, Exchange, and NFT marketplace.