[Crypto projects](https://revain.org/projects/) › Cardano

# Cardano (ADA): how it works, supply and reviews

Layer 1 blockchain

## In short

- **Type**: Public layer-1 proof-of-stake blockchain with a UTXO ledger, native tokens and smart contracts
- **Maximum supply**: 45 billion ADA
- **Risks and caveats**: New ada is issued from the reserve as staking rewards and treasury funding until the 45 billion cap is reached.
- **Checked**: 28 October 2026

## Key facts

- **Ticker**: ADA
- **Category**: Layer 1 blockchain
- **Network**: own blockchain
- **Official site**: [cardano.org](https://cardano.org/)
- **Whitepaper**: [docs.cardano.org/introduction](https://docs.cardano.org/introduction)
- **Source code**: [github.com/input-output-hk/cardano-sl](https://github.com/input-output-hk/cardano-sl)

Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed.

## What is Cardano

Cardano is a proof-of-stake blockchain platform launched in September 2017, built with a research-first approach. Its currency, ada (ADA), pays transaction fees, is delegated to stake pools to secure the network and is used to vote in on-chain governance.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Public layer-1 proof-of-stake blockchain with a UTXO ledger, native tokens and smart contracts |
| Consensus | Ouroboros proof of stake; blocks are produced by stake pools chosen in proportion to delegated ada |
| Launched | 23 September 2017 (Byron era, mainnet launch) |
| Block time | About 20 seconds on average |
| Smart contracts | Yes, since the Alonzo upgrade on 12 September 2021 (Plutus) |
| Programming language | Contracts compile to Plutus Core; common languages are Aiken and Plinth (Haskell) |

## Supply and issuance

| Parameter | Details |
|---|---|
| Maximum supply | 45 billion ADA |
| Issuance | Each epoch 0.3% of the remaining reserve goes into a rewards pot, so issuance declines over time |
| Staking rewards | 20% of each epoch's pot goes to the treasury; the rest is paid as staking rewards |
| Initial distribution | Pre-launch voucher sale; IOHK, EMURGO and the Cardano Foundation received an additional 5,185,414,108 ADA at genesis |

## What ADA is used for

- Paying transaction fees.
- Delegating to stake pools to secure the network and earn rewards.
- Voting in on-chain governance, directly or through delegated representatives (DReps).
- Paying for services in applications built on Cardano.

## Who develops and governs Cardano

- **Founders**: Charles Hoskinson and Jeremy Wood (2015)
- **Developer**: IOHK (now IOG) built the original software; Intersect coordinates development and maintenance today
- **Foundation**: Cardano Foundation (Switzerland) oversees and promotes the ecosystem; EMURGO focuses on commercial adoption
- **Governance**: On-chain: ada holders, DReps, stake pool operators and a constitutional committee vote under a community-ratified constitution
- **Open source**: Yes; the node software is public on GitHub

## History

| Date | Event |
|---|---|
| 2015 | Project started by Charles Hoskinson and Jeremy Wood. |
| 23 September 2017 | Mainnet launched (Byron era) and ada introduced. |
| 29 July 2020 | Shelley upgrade introduced staking and moved block production to community stake pools. |
| 1 March 2021 | Mary upgrade added native tokens. |
| 12 September 2021 | Alonzo upgrade enabled Plutus smart contracts. |
| 1 September 2024 | Chang upgrade began on-chain governance under CIP-1694. |
| 29 January 2025 | Plomin upgrade enabled the full set of governance actions and the DRep role. |

## Security and audits

- Ouroboros is described by the project as the first provably secure proof-of-stake protocol based on peer-reviewed research.
- Delegating ada leaves it in the holder's wallet, and the protocol has no slashing.
- The 2017 ada voucher sale applied KYC checks and its distribution process was audited.

## Risks and caveats

- New ada is issued from the reserve as staking rewards and treasury funding until the 45 billion cap is reached.
- Staking rewards depend on the chosen stake pool; a poorly run pool lowers rewards.
- Cardano's documentation states that the platform does not review assets or tokens issued on it.

## Official links

- Website: [cardano.org](https://cardano.org/)
- Docs: [docs.cardano.org/about-cardano/introduction](https://docs.cardano.org/about-cardano/introduction)
- Source code: [github.com/IntersectMBO](https://github.com/IntersectMBO)
- Governance forum: [cardano.org/governance](https://cardano.org/governance/)

## Questions and answers

**What is Cardano?**

Cardano is a proof-of-stake blockchain platform launched in September 2017. Its cryptocurrency is ada (ADA).

**Who created Cardano?**

Cardano was started in 2015 by Charles Hoskinson and Jeremy Wood. IOHK (now IOG), the Cardano Foundation and EMURGO shared the work at launch; today governance is on-chain.

**What is the maximum supply of ADA?**

The supply is capped at 45 billion ADA. New ada comes only from a fixed reserve as staking rewards and treasury funding.

**How does Cardano reach consensus?**

Cardano uses the Ouroboros proof-of-stake protocol. Stake pools are chosen to produce blocks in proportion to delegated ada, with a new block roughly every 20 seconds.

**Can I lose ADA by staking?**

Delegated ada stays in the holder's wallet and Cardano has no slashing. Only the size of rewards depends on the stake pool chosen.

## Sources

- [CoinGecko — Cardano](https://www.coingecko.com/en/coins/cardano)
- [Cardano — What is Cardano?](https://cardano.org/what-is-cardano/)
- [Cardano — How Cardano works](https://cardano.org/how-cardano-works/)
- [Cardano — Hard forks](https://cardano.org/hardforks/)
- [Cardano — Genesis distribution](https://cardano.org/genesis/)
- [Cardano — Smart contracts](https://cardano.org/smart-contracts/)
- [Cardano — Governance](https://cardano.org/governance/)
- [Cardano Docs — Introduction](https://docs.cardano.org/about-cardano/introduction)
- [Cardano Docs — Monetary policy](https://docs.cardano.org/about-cardano/explore-more/monetary-policy)
- [Cardano Docs — Ouroboros overview](https://docs.cardano.org/about-cardano/learn/ouroboros-overview)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/cardano/