Cardano (cryptocurrency)

In August 2021,In August 2021, Charles Hoskinson announced the launch of the Alonzo hard fork, causing Cardano price to surge, gaining 116% in the following month. On Sept. 12, 2021, the Cardano ‘Alonzo’ hard fork officially launched, bringing smart contract functionality to the blockchain. Over 100 smart contracts were deployed in the following 24 hours after the launch.

As well as being a technology entrepreneur, Hoskinson is also a mathematician. In 2020, his technology company donated ADA worth $500,000 $500,000 to the University of Wyoming’s Blockchain Research and Development Lab.

There is a maximum supply of 45 billion ADA — but at the time of writing, there was a circulating supply of about 31 billion. Five rounds of public sales of Cardano tokens were held between September 2015 and January 2017. Cardano price during its pre-launch sale was $0.0024, $0.0024, which represents an over 1000x return, given Cardano price now.

Approximately 2.5 billion2.5 billion ADA was allotted to IOHK once the network launched. Meanwhile, an additional 2.1 billion ADA was given to Emurgo, a global blockchain technology company that served as a founding entity of the Cardano protocol. Last but not least, 648 million 648 million ADA was given to the not-for-profit Cardano Foundation, which aims to promote the platform and increase levels of adoption.

Overall, about 16% 16% of ADA’s total supply went to the project’s founders, with the remaining 84% being split among investors.

On Sept. 12On Sept. 12, Cardano released its highly-anticipated Alonzo upgrade. Following the upgrade, the blockchain network can now support a wide range of crypto applications, including non-fungible tokens (NFTs) and smart contracts.