For the past two years, we have been working on a new cryptocurrency and blockchain technology. Today, we’re excited to share that the next generation blockchain built by our team is being launched as the ada cryptocurrency, named after Ada Lovelace.
ada is an open source, decentralized public platform that empowers organisations and individuals to transact freely and privately. Built using peer-to-peer networking and cryptography, ada enables users to transact directly with one another without intermediaries.
The ada cryptocurrency will be available in Q1 2018; you can sign up for regular updates at cardanohub.org/ada.
ada is the first cryptocurrency built on top of Haskell code, giving it a number of unique properties: it is fast (millions of transactions per second), secure (provably secure), scalable (infinite capacity) and interoperable (integrates with any blockchain).
The ada token will be used to send value between participants in the Cardano ecosystem. It will also be possible to use ada to pay transaction fees when exchanging digital assets on the Cardano Settlement Layer (CSL). The CSL is the first layer of Cardano and hosts its ledger system; its design was inspired by Bitcoin’s UTX
Today, I’m delighted to announce the launch of a cryptocurrency called ada. Adadollars will be available for trading on the Bittrex exchange starting October 31, 2017.
Cardano is an open-source project and home to the Ada cryptocurrency, which can be used to send and receive digital funds. This digital cash represents the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.
Cardano is more than just a cryptocurrency, however, it is a technological platform that will be capable of running financial applications currently used every day by individuals, organizations and governments all around the world. The platform is being constructed in layers, which gives the system the flexibility to be more easily maintained and allow for upgrades by way of soft forks.
In addition to this robust technology stack developed with security in mind, Cardano will also run decentralized applications (Dapps). The Cardano Settlement Layer (CSL) – where ada resides – is built in the highly secure Haskell programming language. Control over Ada will also be in the hands of its users as well as regulators via a new democratic governance system that includes voting rights for all token holders.
The vision of Cardano is that it will bring about financial inclusion by
In December 2017, IOHK launched the Ada cryptocurrency.
The name Ada was chosen in honour of Lady Ada Lovelace, whose work on the Analytical Engine introduced many core principles of computation.
IOHK is committed to using peer-to-peer innovations to provide financial services to the three billion people who don’t have them. This is what motivates us every day. These people are currently excluded from the global economy because they do not have access to a bank account. With no way to save or borrow money, it is difficult if not impossible for them to improve their lives and those of their families. They are forced into a vicious cycle of poverty, relying on expensive and insecure means such as loans sharks (who can charge over 200% interest pa) or cash transfers from family members abroad.
Ada will allow these people to participate in the new economy and escape poverty for good. We want to create a world where everyone has access to fair financial services; where no one is stuck because they are unbanked or underbanked.
ada (the name of the cryptocurrency) is named after Ada Lovelace, who is considered to be the first computer programmer.
The Cardano project is developing a smart contract platform that aims to deliver more advanced features than any protocol previously developed. The development team consists of a large global collective of expert engineers and researchers. The protocol features a layered blockchain software stack that is flexible, scalable and is being developed with the most rigorous academic and commercial software standards in the industry. Cardano will use a democratic governance system that allows the project to evolve over time, and fund itself sustainably through a visionary treasury system.
The team behind Cardano created the project because they believe cryptocurrencies have failed to live up to their transformative potential. They see few projects making meaningful technological progress and even fewer addressing problems in a systematic way. Furthermore, Cardano has been designed so that it can be maintained and developed into the future by teams working in an open, collaborative manner.
Cardano was built from scratch using peer-reviewed research. It provides advanced features like sidechains and multiple assets, which means its developers can build financial applications with unparalleled security and reliability – applications that will stand the test of time.
The Ada cryptocurrency (“Ada”) is the latest innovation from IOHK, the research and development company behind Cardano. It’s named after Augusta Ada King, Countess of Lovelace (1815 – 1852), a British mathematician and writer who is considered to be the world’s first computer programmer.
The Ada cryptocurrency was built with a scientific philosophy. IOHK has assembled a team of leading academics and engineers to build Cardano from scratch in the highly secure Haskell programming language. Designed to handle financial transactions, it will become more advanced over time as additional functionality is added.
You can find out more about Ada by reading our white paper and downloading the wallet software (links below). We’ve also included some frequently asked questions below to help you get started.
Today we’re excited to announce the launch of Cardano, an open source blockchain and cryptocurrency project and the first to be developed from a scientific philosophy. Our team is comprised of a large global collective of expert engineers and researchers.
The effort is already the source of three peer-reviewed academic publications (1, 2, 3) on the underlying protocols, has been under development for two years and is built atop Haskell, the most advanced purely-functional programming language. We believe this represents a paradigm shift in how cryptocurrencies are designed and developed.
As part of our commitment to being a research-first driven organization, we will also be shortly announcing IOHK’s new partnership with the University of Edinburgh to collaborate on blockchain research as well as funding a five year PhD program. This will build upon our existing relationships with universities in Athens, Tokyo and Hong Kong.
Cardano’s vision is to change the way cryptocurrencies are designed and developed. We aim to provide a more balanced and sustainable ecosystem that better accounts for the needs of its users as well as other systems seeking integration.
In order to achieve this vision, Cardano will implement many new features not seen in any protocol before, including a unique approach to handling errors; a new consensus algorithm called Ouroboros; advanced
Cardano is a software platform ONLY and does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds. You are fully and solely responsible for evaluating your investments, for determining whether you will exchange blockchain assets based on your own, and for all your decisions as to whether to exchange blockchain assets with Cardano. In many cases, blockchain assets you exchange on the basis of your research may not increase in value, and may decrease in value. Similarly, blockchain assets you exchange on the basis of your research may increase in value after your exchange.
Past performance is not indicative of future results. Any investment in blockchain assets involves the risk of loss of part or all of your investment. The value of the blockchain assets you exchange is subject to market and other investment risks.
MARKET RISK
The value of any asset may fluctuate up and down due to market conditions. That condition can sustain for extended periods, sometimes years. During such times it is possible that a holder’s investment will go down in value, even to zero. The market risk faced by holders is increased by adverse economic conditions or other factors that negatively affect an issuer’s ability to continue making principal and interest payments on any related debt obligation or which otherwise cause uncertainty