When was the ADA coin issued? Learn about the origin of ADA coin in one article
- PHPzOriginal
- 2024-08-06 13:55:01272browse
ADA coin was issued on September 29, 2017. The development of the Cardano project is divided into four stages: Byron, Shelley, Goguen, and Basho. ADA coins are used in the Cardano ecosystem to: pay transaction fees, participate in governance, mortgage, and incentivize network maintenance.
ADA Coin Issuance Time
ADA Coin was issued on September 29, 2017.
The Origin of ADA Coin
ADA Coin is the native token of the Cardano blockchain and was created in 2015 by Charles Hoskinson, one of the co-founders of Ethereum. Cardano aims to be a decentralized platform powering a variety of applications and financial services.
The Development History of ADA Coin
The development of the Cardano project is carried out in several stages, called Byron, Shelley, Goguen and Basho. Each phase introduces new features and enhancements to the Cardano network.
- Byron Era (2017-2020): The initial stage of the network, focusing on establishing the basic protocol and issuing ADA coins.
- Shelley Era (2020-present): Introducing the Proof-of-Stake (PoS) consensus mechanism, allowing ADA holders to participate in network maintenance.
- Goguen Era (Ongoing): Focus on implementing smart contract functionality to enable developers to build applications on Cardano.
- Basho Era (Planning): Designed to improve network scalability and throughput to support large-scale applications.
Uses of ADA Coin
ADA Coin has multiple uses in the Cardano ecosystem, including:
- Transaction Fees: Used to pay network transaction fees.
- Governance: ADA holders can participate in Cardano’s governance decisions by staking their tokens.
- Staking: can be used to stake into smart contracts to create decentralized applications and services.
- Incentives: Rewards are given to nodes or miners who participate in network maintenance.
Cardano (ADA) Price Trend
As of 9:00 AM on August 5, 2024, the current price of ADA is $0.316 with 24-hour trading volume of $487,475,778.49.
Recent Changes
In the past 24 hours, the price of ADA dropped significantly by 12.61%. The decline was caused by a broad sell-off in the cryptocurrency market, where many major assets also fell in value.
Factors Leading to Price Movements
- Cryptocurrency Market Sentiment: Sentiment across the cryptocurrency market has recently turned bearish due to the Federal Reserve’s aggressive interest rate hike policy.
- Macroeconomic Uncertainty: Macroeconomic factors such as high inflation and a slowing global economy have also had a negative impact on the price of ADA and other cryptocurrencies.
Future Price Trend
The price trend of ADA may remain volatile in the short term, but it has strong potential in the long term. It has a strong technical foundation, an active development team, and a growing user base.
Recommended Measures
In light of the current uncertainty, investors are advised to adopt a cautious approach. Avoid chasing highs and only invest what you can afford to lose. Focus on the long-term outlook and consider buying on dips.
Short-Term Forecast
The price of ADA may continue to fluctuate in the short-term, but a significant drop is not expected. It is likely to consolidate around current levels until market sentiment improves.
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