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Cardano (ADA) Logo
$ 1.13 B
ADA 404.66 M
~ 45.00 B
Total Coins Mined
~ 25.93 B
*General last updated 11/12/19 6:10:38 AM
Cardano started in 2015 as an initiative to innovate the way cryptocurrencies are designed and developed. The overall goal was to provide a more balanced and sustainable ecosystem that better recognizes the needs of its users as well as other entities seeking integration.
Cardano did not begin as a white paper that was released to in an effort to raise millions and then develop the product, but rather it embraced a collection of design principals, blockchain engineering best practices and new avenues for exploration.
From this list of ideas, the principals working on Cardano began both to explore cryptocurrency literature and to build a toolset of different concepts.
These include the following:
The development, management, and operations team consist of a large global collection of in-field expert engineers and researchers. The overall team is comprised of three different organizations that together, contribute to the growth and development of Cardano.
The mission is to standardize, protect and promote the Cardano Protocol to the masses. The goals are simple, yet achievable when done right.
Foundation Members Include:
Michael Parsons FCO, Chairman
Michael Parsons has over 25 years’ experience as an executive and consultant in the banking industry, with a strong emphasis on technological innovation. An early evangelist for Bitcoin, he has become one of the UK’s leading authorities and thought leaders on blockchain distributed ledger technology for financial services and a sought-after speaker and advisor on the subject. He currently serves as the Chairman and Executive Director of the Cardano Foundation, which promotes and supports the new Cardano blockchain protocol. There his mandate is to promote the protocol and associated Cardano ecosystem as well as positively influence the emerging commercial and legislative landscape for blockchain and cryptocurrency technologies.
Tom Kelly, Marketing & Community Manager
Tom is an experienced marketing professional, with a background focused on growing technology businesses from the ground up. Previously Tom was VP of Marketing at Busy Rooms a software company which optimizes revenue for the global hotel industry. More recently Tom was Head of Growth & Marketing at Homeshift, a technology business improving the customer experience in the home utility sector. He first got interested in blockchain while consulting for a client and after further investigation become passionate about the potential of the technology. Tom graduated from Oxford Brookes University with a degree in Business Innovation & Enterprise.
Steve Wagendorp, Head of Technical Operations
Steve joined the Cardano Foundation having recently managed operations for an asset manager in Zurich focusing on fund administration, compliance, regulatory matters and IT. As a technology enthusiast, he developed a natural interest in blockchain technology and decentralized application development. Steve graduated from the University of Cape Town with a degree in Geomatics engineering.
Input Output is a uniquely collaborative approach to steadily build a precisely engineered cryptocurrency and product that brings together disciplines as a distributed system, mechanism design and cryptography contributing to the development and maintenance of Cardanos Protocol.
Their team consists of 34 expert developers, designers and, cryptographic scientists all contributing to Cardano.
Emurgo is firm that specializes in supporting commercial ventures and help integrate businesses into Cardano’s decentralized blockchain ecosystem. They are a large contributor to the Cardano ecosystem.
Cardano decided to embrace the Proof of Stake model due to its nature to add a mechanism in a secure voting system, a capacity to scale out, and permits the exotic incentive schemes.
Cardanos Proof of Stake is called Ouroboros, it has been designed by a talented team of cryptographers from five academic institutions: the University of Connecticut, University of Athens, University of Edinburgh, and the Tokyo Institute of Technology. This team is led by Professor Aggelos Kiayias of the University of Edinburgh.
The innovation behind all this is that it allows for the composition of many different protocols to enhance functionality, even a rigorous cryptographic model has been put into consideration when building.
The Cardano ICO started in September 2015 and was completed in January 2017. The ICO completed a total sale of approximately 26,000,000,000 of the 45,000,000,000 total supply of ADA token. At the completion of the ICO Cardano successfully raised a total of US$63,000,000, that is approximately US$0.02 per ADA token.
During the ICO there was a heavy Know Your Customer (KYC) requirements. Primarily marketed towards Japanese whom accounted for 95% of investors. 2.56% of the buyers were Korean, and 2.39% were Chinese.
Cardano's ADA token will be used in a democratic manner on the Cardano ecosystem. The concepts sound familiar to Ethereum and NEO, but ADA differs on numerous variables.
ADA token value of the Cardano blockchain
Cardanos ambition is to be an adaptive system, to always stay ahead of innovation and grow collectively with the Cardano community.
Here is an example of how exactly the Cardano (ADA) Economics will work within the ecosystem:
Metrics on the Cardano Mainnet