Cardano, a decentralized proof-of-stake blockchain, offers an energy-efficient alternative to proof-of-work networks. Its cryptocurrency, ADA, is named after Augusta Ada King, Countess of Lovelace, who is considered the first computer programmer. ADA is used in Cardano's PoS consensus mechanism and is given as a reward to users participating in stake pools.

Developed by Ethereum co-founder Charles Hoskinson in 2015 and launched in 2017, Cardano is seen as an alternative to Ethereum, with both platforms utilizing smart contracts to build connected, decentralized systems. Cardano is often considered a "third generation" platform, using the Ouroboros consensus protocol, which reduces energy consumption by eliminating the need for massive computing resources in proof-of-work algorithms.

The cryptocurrency market is volatile, and ADA's price is subject to significant fluctuations. When launched, a public sale of 25.9 billion ADA tokens took place, with 5.2 billion issued and shared among separate entities. Cardano and ADA continue to gain popularity in the world of cryptocurrencies and decentralized finance.