Cardano (ADA) is a cryptocurrency that was launched in 2017 by Input Output Hong Kong (IOHK), a blockchain research and development company. The purpose of ADA Cardano Coin is to provide a platform for building decentralized applications (dApps) and smart contracts, similar to Ethereum. However, ADA claims to offer several advantages over Ethereum, including scalability, security, and sustainability.
The founders of IOHK are Charles Hoskinson and Jeremy Wood. Hoskinson was previously a co-founder of Ethereum, and his experience in the cryptocurrency industry helped to shape the development of Cardano. Wood is a software engineer who has worked on a number of blockchain projects.
The tokenomics are designed to incentivize stakeholders to participate in the network and maintain its security and integrity. Cardano uses a proof-of-stake (PoS) consensus mechanism, which means that users can participate in the network by staking their ADA coins. By staking their coins, users can earn rewards for helping to validate transactions and secure the network.
ADA has a maximum supply of 45 billion coins, which were pre-mined and distributed during the initial coin offering (ICO). The distribution of coins was done in a way that allowed for fair participation by all investors, regardless of the amount of money they invested. This was done to promote decentralization and avoid concentration of ownership in the hands of a few large investors.
The development of ADA was organized into five phases, each with its own set of goals and milestones. The first phase, known as Byron, focused on establishing the basic infrastructure of the network and ensuring its security and stability. The second phase, known as Shelley, focused on decentralization and increasing stakeholder participation in the network. The third phase, known as Goguen, is currently underway and is focused on enabling the development of dApps and smart contracts on the Cardano platform.