Cardano (ADA) traded down 0.7% against the dollar during the twenty-four hour period ending at 8:00 AM ET on August 8th. Cardano (ADA) is a Proof-of-Stake (PoS) blockchain that’s designed to be flexible, sustainable, and scalable. The Cardano network was launched in September 2017 by Ethereum co-founder Charles Hoskinson and Jeremy Wood, without support for smart contracts. ADA is the native token of the Cardano blockchain, akin to ETH on the Ethereum network. Investors can then use their newly-acquired Bitcoin or Ethereum to buy Cardano using one of the exchanges listed above.