What Is Cardano (ADA)? Cardano is a PoS cryptocurrency focused on the social elements of commerce.

What Is Cardano (ADA)?

While some cryptocurrencies want to replace cash and others want to replace banks, Cardano wants to reinvent finance to return to simpler times. It wants to remove the middlemen and enable fast payments to anyone, anywhere in the world. This goal is meant to fulfill the need for a bank for the unbanked and underbanked populations.

Who Is Cardano?

Cardano was created by Input Output Hong Kong (IOHK), a development team created by CEO (and Ethereum co-founder) Charles Hoskinson.

Use Cases of Cardano

The use case of Cardano is simple enough – send value from one party to another. Of course, that’s the simple promise of cash money, and there are thousands of products and services to choose from to do it. Cardano wants to circumvent them all. It’s also hoping to become a token platform for third-party development.

How to Mine ADA

ADA isn’t mined. It’s earned via Proof-of-Stake (PoS), which means you earn it by staking it in a supported wallet or exchange.

Cardano Investors and Partners

Cardano is focused on partnerships with payment platforms around the globe. It already secured partnerships in South Korea and Japan and is working on more in the Americas, Europe, Africa, and the Oceanic region.

Learn More About Cardano

If you want to learn more about Cardano, I wrote a full coin intro guide at Crypto Briefing. Or you can learn more about other cryptocurrencies across Thought for Your Penny.


Brian Penny is a former Business Analyst and Operations Manager at Bank of America turned whistleblower, troll, and freelance writer.

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