Cardano Price - ADA/AUD : $1.20441

Cardano is an entirely decentralised public blockchain project. Its developing network currently provides a secure exchange of value and will integrate smart contract support amongst various other applications. Every transaction on the network is permanent, secure, and transparently recorded on the Cardano ledger and, in its current operating form, the project itself solves ongoing blockchain industry issues - one being the ability to scale infinitely.

ADA is the native token of the Cardano network. The token can be traded on exchanges like other cryptocurrencies as well as being transferred instantaneously for a minimal fee. Additionally, ADA can be utilised on Cardano’s proof-of-stake (PoS) protocol, as opposed to standardised blockchain Proof-of-Work protocols (PoW). PoS in the network allows token holders to participate in the blockchain validation process by delegating their ADA in a mining pool and receiving a reward for their stake.

This protocol provides initiative with no need for large computational power present in PoW structures, making Cardano's Protocol one of the first of its kind. Future developments will continue to provide ADA holders with opportunities to utilise their tokens for a variety of applications and services.