ADA

Cryptocurrency token of Cardano, which is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change.

ADA tokens fuel the Cardano platform much like ETH tokens fuel the Ethereum platform. They’re used to pay transaction fees and are staked by validators (and delegators) who want to help maintain security and stability of the network in exchange for earning rewards.

Unlike Ethereum-based tokens, Cardano native tokens aren’t created via smart contract. Instead, they run on the same architecture as the ADA cryptocurrency itself. This native architecture can theoretically make these tokens more secure and reduce the fees associated with transactions.

ADA can be used to store value, to send and receive payments, and for staking and paying transaction fees on the Cardano network.

ADA is named after Ada Lovelace, the 19th-century mathematician often referred to as the “world’s first computer programmer”.