New listing on NBX: Meet ADA

Last updated
10.17.2022

We are excited to announce our new listing on the NBX exchange: meet ADA!

ADA is a native token for the Cardano blockchain platform that functions as a currency and a secure exchange of value. Anyone and anywhere in the world can transact with ADA without any third parties involved. Cardano is considered the biggest Proof-of-Stake cryptocurrency. Read more about key features of ADA.

What is ADA?

Coin/Token name: Cardano (ADA)

Algorithm type: Proof-of-Stake

Protocol: Ouroboros

Website: https://cardano.org/

Сurrent Market cap: $70,052,503,922 (per 16 Aug 2021)


Introduction

Charles Hoskinson was one of eight founders of Ethereum. But with different opinions in some areas, Charles left and founded Cardano with the ADA token and IOHK the company. Cardano launched with an ICO in 2017 with an initial market cap of $600 million. Today, Cardano's market cap has grown to approximately $58 billions. The project aims to tackle issues seen in other projects, like interoperability, scalability, and regulatory compliance.

Cardano is considered the biggest Proof-of-Stake cryptocurrency, which is built on the Ouroboros protocol. ADA token is found on the settlement layer, but Cardano also offers a second layer designed to enable smart contracts and applications similar to what Ethereum offers.

Interestingly, the ADA token was named after Ada Lovelace, daughter of Lord Byron, who is an English mathematician and writer, known for being regarded as the first computer programmer.

Why did we choose to list ADA?

At NBX, we’re dedicated to projects/networks that use the value of the blockchain to redefine their business models, while giving both retail and corporate investors new ways to invest in the cryptocurrency space. We believe that Cardano with its ecosystem fits these criteria, with the added benefit of being dedicated to research and development as well as their relationships with governments and institutions around the world.

What can I do with ADA?

You can buy, “HODL”, trade, or stake it. In the end, you can swap ADA for other cryptocurrencies or fiat currencies. Staking is most likely the most known feature, where you earn rewards on your tokens. Cardano also has a whole ecosystem ranging from lending to NFTs. The ecosystem is not as developed as Ethereum's, but more projects are being developed and will be available in near future.

How can I get ADA?

You can now purchase ADA directly with us. ADA can be bought or sold by anyone, anytime, anywhere, as long as they have access to an exchange like NBX.


Support your local pools

If you’re planning to stake your Cardano tokens, we highly recommend supporting Nordic pools to continue the growth of a Nordic community. See our list of recommended staking pools:

ANP https://adanorthpool.com/

Ahlnet https://ahlnet.nu/

Nordic pool https://nordicpool.org/

If you want to deep dive into the Cardano project, here are a couple of useful links for starters:

Cardano on CoinMarketCap

Cardano website

Official Cardano Announcements Telegram channel

Cardano Foundation

IOHK

Emurgo

This text is intended to inform and is not an investment recommendation.

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